NeoTerrex Minerals updates Quebec mineral projects
NeoTerrex Minerals Inc. [TSXV: NTX] has shared a comprehensive update on its continuing fully financed exploration activities for its Quebec-based projects. The company is well positioned with $3.5 million in working capital.
Gravitas project: Exploration at the copper-gold-tungsten Gravitas project in Abitibi-Temiscamingue is progressing, with a primary focus on the Petosa tungsten zone. Tungsten, a critical metal, was first identified in the area in the 1930s, where scheelite-bearing quartz veins, up to five metres wide and extending 150 metres in length, were exposed.
The exploration team has successfully located the historical zone and extracted samples from the exposed veins. Notably, visual inspection under ultraviolet light revealed scheelite crystals glowing bright blue, a promising indication of mineralization. Photos of these samples are available on the company’s website.
Additionally, a potential copper discovery was made in a different area of the project, where a quartz vein containing copper-bearing minerals, including bornite and chalcopyrite, was identified. The typical green oxidation associated with copper mineralization was visible. The vein, which varies in width, is estimated to extend at least 25 metres in length, although further overburden removal is needed to confirm its full extent.
Fifty samples have been submitted for assaying, testing for copper, gold and tungsten content.
Galactic project: In late May, 2025, surface exploration was expanded at the Galactic project, where significant critical minerals were discovered last year. A total of 38 distinct critical metal occurrences, including dysprosium (0.54% Dy2O3), neodymium (1.6% Nd2O3), tantalum, niobium and zirconium, were identified.
The latest exploration program aimed to assess the potential widths of mineralization, identify new areas of mineralization and collect additional samples for petrographic analysis to identify the minerals containing these metals. A total of 158 grab and channel samples have been sent to the laboratory for assaying.
Based on new field observations, the Galactic project has recently been expanded by 15%, bringing its total size to 12,854 hectares. The project is located 50 km northwest of the major mining port of Sept-Iles, Quebec, and is within 40 km of key infrastructure, including highway access, electricity and the proposed site for Torgnat Metals’ rare-earths processing plant.
On June 17, 2025, Torngat Metals announced it had secured $165 million in funding from two federal government organizations – Export Development Canada and the Canada Infrastructure Bank – to further advance its Strange Lake deposit toward production.
Mathieu Stephens, president and CEO of NeoTerrex, commented: “The recent announcement of the funding for Torgnat Metals is excellent news for Neoterrex. The development of the processing plant in Sept-Iles, close to our Galactic project, is particularly promising, as the geological environment and mineralization at Galactic are similar to those at Strange Lake.”
He added: “This funding also positively impacts our SLW (formerly Strange Lake West) project, which lies adjacent to the Strange Lake deposit. While Neoterrex has not yet verified the historical rare-earth occurrences at SLW, exploration is planned for the area as regional infrastructure continues to improve.”
On June 20, 2025, the Canadian government announced the passing of Bill C-5, the One Canadian Economy Act, which is designed to accelerate strategic projects that can deliver an economic boost to Canada and help strengthen the country’s autonomy and resilience.
Mr. Stephens further commented on the recent passage of Bill C-5: “We welcome the passage of this new bill, which is designed to expedite nation-building projects that can drive economic growth – similar to the opportunities presented by Neoterrex’s own projects. At the same time, we remain committed to ensuring that environmental protections are upheld and that consultation and engagement with indigenous peoples continues to be a cornerstone of these initiatives. Building shared prosperity is essential for the long-term success of these projects.”
NeoTerrex Minerals is currently advancing its prospective critical minerals projects located in Quebec, with the majority located within or near areas with excellent infrastructure.