Murchison Minerals (TSX-V:MUR) Ltd has announced that its common shares will commence trading on the OTCQB Venture Market in New York as of today, February 14, 2022, under the symbol MURMF.
Additionally, the company said it is in the final stages of having Depository Trust Company (DTC) eligibility, which is expected to be completed in the coming weeks. And its shares will continue to trade on the TSX Venture Exchange (TSXV) under the symbol MUR.
"Today is a major milestone for the Company, with Murchison Minerals (TSX-V:MUR) joining the OTCQB, this will provide an enhanced market for US residents to trade Murchison's common shares,” Murchison Minerals CEO Troy Boisjoli said in a statement.
“The OTCQB provides increased transparency, reporting standards, management certification and compliance requirements that align with Murchison's values. We recognize the demand in the US for greater exposure to grassroots exploration projects focused on the battery and energy metals space. Our intention with the Company joining the OTCQB is to drive greater liquidity and awareness about Murchison," he added.
READ: Murchison Minerals: High-grade base metals in focus
The OTCQB by OTC Markets Group Inc is a premier and established marketplace for entrepreneurial and development-stage companies. The OTCQB is recognized by the US Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.
The OTCQB offers companies the opportunity to build their visibility, expand their liquidity and diversify their shareholder base on an established public market.
Murchison is a Canadian‐based exploration company focused on nickel-copper-cobalt exploration at the 100%-owned HPM project in Quebec and the exploration and development of the 100%-owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan. The company also holds an option to earn 100% interest in the Barraute VMS exploration project also located in Quebec, north of Val d'Or.
The HPM project is located within the Haut-Plateau de la Manicouagan area. The claims host prospective gabbroic, ultramafic and anorthositic bodies within the Manicouagan metamorphic complex and are associated with significant nickel-copper-cobalt sulphide mineralization first identified by Falconbridge in 1999, and discovered extensive nickel-bearing sulphide mineralization at Barre de Fer during drilling in 2001-2002.
Murchison Minerals said its predecessor -- Manicouagan Minerals (TSX:MAM) -- drilled in the area in 2008 and 2009. Most of the past drilling at the HPM project targeted the Barre de Fer geophysical conductor and confirmed the presence of nickel-copper-cobalt sulphide mineralization over about 300 metres (m) strike length to a depth of 280m. The mineralization remains open at depth and partially along strike.
After Murchison Minerals acquired 100% ownership of the property in 2019, the company focused exploration work on the camp-scale potential of the region.
The company said aerial EM surveys completed in the spring of 2021 identified more than 50 anomalous conductors. Prospecting crews were able to traverse five of the more than 50 anomalies, and discovered new outcrops of nickel-bearing sulphide mineralization in the process. The prospecting program was followed by an inaugural drill program at the PYC Target area - an EM anomaly with a 1.95 kilometre strike length.
Murchison Minerals said assay results are expected in the first quarter of 2022. Subsequent to the completion of the drill program at PYC, the company increased its dominant land position in the Haut-Plateau region from 139 square kilometers (km2) to 576 km2.
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