Sylacauga – U.S. Critical Minerals, LLC, a privately held U.S. mineral exploration and development company, today announced that it has entered into a binding framework agreement for a merger with Nova Resources LLC in which it already holds a 20% interest and has also entered into two definitive purchase and sale agreements to acquire the historic McAllister tantalum mine and mineral rights and the associated processing mill in Coosa County, Alabama.
Nova holds or controls by lease or option more than 5,000 acres across the Coosa County district in Alabama and has access to extensive historical exploration data. Initial drilling has confirmed tantalum and lithium and tantalum, including spodumene-bearing intercepts in the historic McAllister area.
Jesse R. Edmondson, Founder & CEO of USCM said, “These transactions gives U.S. Critical Minerals a rare combination: a proven American mine, existing processing infrastructure and a large exploration position in a district with demonstrated tantalum, tin and lithium mineralization. McAllister previously supplied the National Defense Stockpile and U.S. industry. We believe it can again become an important part of America’s defense-critical mineral supply chain.”
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