Auxico Resources Canada Inc (CSE:AUAG, OTCQB:AUXIF) CEO Pierre Gauthier is understandably excited about the company's acquisition of 85% of two new assets in Bolivia: the El Benton Mine and adjacent Monte Verde concessions.
The strategic move positions Auxico to tap into a wealth of critical minerals, including tantalum, lithium, and rare earths.
In a recent interview with Proactive, Gauthier – who became CEO at Auxico in June 2023 – gave more insight into the opportunities ahead.
"What excites me about this opportunity is that, in the mining industry, obtaining the necessary permits can often be a protracted and challenging process. However, in this case, we have acquired a mine that is already fully permitted and operational, historically producing tantalum and niobium,” Gauthier said.
“What truly sets this apart is the additional discovery we made during our due diligence – lithium and rare earths present on the property. Typically, if a mining site possessed just one of these valuable assets, it would be a reason for celebration, whether it be tantalum, lithium, or rare earths. The fact that all three are present simultaneously is a truly exceptional and rare occurrence."
Auxico had its eye on the Bolivian assets for a little over a year, over which it discovered a unique characteristic - the ability to optically separate the materials present.
“This innovative process involves segregating black particles, brown particles, and white particles, yielding tantalum enriched with niobium in one stream - commercially valuable and immediately usable,” Gauthier told Proactive.
“Simultaneously, the brown material, rich in rare earths, emerges. This optical separation significantly enhances the grade and commercial potential of these concentrates.”
Auxico has already successfully tested the optical separation in a controlled laboratory environment. The minimal need for extensive chemical processing to create commercial concentrates across these minerals is a highly advantageous feature of the property, Gauthier said.
Looking ahead, the company’s priority is to reactivate mining operations, specifically focusing on the production of tantalum and niobium to resume exporting these minerals. It will also start to explore the substantial lithium deposit, spanning over a kilometer and boasting lithium concentrations of up to 1.3%.
Shares of Auxico have gained 14.3% over the last week.
Founded in 2014, Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia, Brazil, Mexico and the Democratic Republic of the Congo.