Allegiance applies for additional tungsten claims around Five T’s in B.C.

Allegiance Resources said on October 22 it had submitted mineral-claim applications covering approximately 1,657 hectares around the proposed Five T’s tungsten project near Revelstoke, British Columbia. The issuer said registration and confirmation were still outstanding, so the stated area represents an application-stage land position.

The company also has a definitive asset purchase agreement to acquire the Thanksgiving, Five T’s and Rio Grande tungsten projects, which it described as totaling approximately 1,905 hectares. The acquisition remained proposed and subject to technical-report completion and acceptance by the Canadian Securities Exchange, among other customary conditions. Allegiance said that if the new applications are confirmed and the transaction closes, its proposed B.C. position would total about 3,562 hectares, an approximately 87% increase over the project package covered by the agreement.

No new shares, vendor consideration or underlying vendor royalty were required for the additional direct staking, according to the company. That statement concerns the staking of the extra ground; it does not mean the separate acquisition agreement for the three existing projects has no consideration. The release says the expanded area is intended to provide more ground around Five T’s for assessment of historical tungsten occurrences and future exploration targeting.

Allegiance said the additional claims had not yet been systematically explored by the company. It noted that previous work in the district occurred under extensive glacial cover and said it wanted to assess whether retreat may have improved bedrock exposure in parts of the wider area. The company had not confirmed the extent of any such change. It described potential mapping, prospecting, geophysics and structural interpretation as future work, not completed exploration.

The announcement referred readers to an October 13 release for historical technical information about Five T’s. Historical occurrences and exploration results are not equivalent to a current mineral resource or reserve, and the issuer said technical work under National Instrument 43-101 was still advancing. Its separate Nevada Golden Scheelite field program was also mentioned; that Nevada property is not part of the Canadian land position described here and its assay results were pending.

The company said the independent NI 43-101 technical report for the proposed British Columbia transaction was nearing completion and remained a key step before closing. If the acquisition closes and the new claims are confirmed and registered, Allegiance plans to combine the historical Five T’s information with the added ground to refine its geological interpretation and rank areas for future mapping, geophysics and target generation. The October 22 announcement therefore advances the land application while technical and transaction work continues.