Slovakian Asset due diligence Completed
Summary by AI BETAClose X
TOMAHAWK METALS PLC
("Tomahawk" or "the Company")
17 June 2026
Slovakian Asset due diligence Completed
Tomahawk Metals Plc (AQSE: TWHK), quoted on the Aquis Stock Exchange Growth Market, is pleased to provide an update on the Slovakian Gold, Antimony assets, option entered and announced on 20th April 2026. Following the completion of legal and operational due diligence the board is working towards completing the transaction that will see the assets in Slovakia transferred to the Company.
Overview:
The Company entered into an exclusive agreement to acquire 100% of 3 licences and 2 licence applications, specifically:
Lom - A current mineral exploration licence, covering the historical Lom Sb-Au mine, and located on the edge of the Low Tatras National Park.
Poproc - A current mineral exploration licence covering multiple historical Sb-Au mines and exploration prospects.
Strieborna - A current mineral exploration licence located close to the Dobšiná historical mining district, and in which historical underground exploration adits have been identified.
Zlata Bana - A licence under application, covering the mineralised core of a strato-volcano, extensively historically explored for polymetallic (Zn-Pb) mineralisation.
Zalomy - A licence under application, targeting a potential eastward continuation of the Lom licence.
The Company is now working towards completing the transaction and expects completion within the next 4 to 6 weeks.
Following completion of the transaction a detailed exploration plan will be initiated immediately.
Option Details
Following a payment of £45,000 in shares, to enter the option agreement, the completion of the transaction and the transfer of ownership of the licences is secured by the transfer of £100,000 in ordinary shares priced at £0.02, equating to 5,000,000 ordinary shares ("Shares"), and the approval from the environment minister in Slovakia.
The Shares will be issued as and when the licences are transferred into Tomahawk Metals Slovakia s.r.o and will be issued in two tranches, the first tranche upon transfer of three current licences which will be for 3,333,333 Shares and the second tranche of Shares for the remaining two licences, currently under application, will be issued only upon confirmation of the application licences being issued and transferred to the Company. A further announcement will be made in due course, including a date when the Shares are expected to be admitted to trading on the Aquis Growth Market.
A further payment of £100,000 in cash will be made when the Company lists on AIM, as it plans to do, but with no guarantees that an AIM listing will be completed.
Summary of the Opportunity
Poproc is one of the strongest Sb-Au targets in the target portfolio, supported by a long mining history from known stibnite- and gold-bearing vein systems.
The main exploration focus is the Anna-Agneška vein system, a historically worked antimony-gold deposit within the broader Anna-Agneška / Ferdinand-Lazy trend. Mineralisation is hosted in narrow quartz-stibnite veins, typically around 1.5 m to 2 m wide and locally up to 4 m.
Historical exploration confirmed mineralisation with considerable Sb and Au grades, but also highlighted its irregular and discontinuous distribution, with higher-grade zones concentrated in discrete shoots rather than continuous mineralised bodies.
Whilst some exploration was completed in the 1980s, it appears that previous work did not fully test the licence, as it relied heavily on underground development rather than modern, systematic exploration. Targeting appears to have been limited to the Anna-Agneška trend, with limited focus on prospectivity elsewhere in the licence.
Strieborna is an early-stage exploration licence in central Slovakia, approximately 5.5 km west of a historically important mining district (Dobšiná). The wider area has a long history of mining for gold, silver, nickel, iron, cobalt, copper and mercury, although antimony production is less widely reported than at Poproc or Lom.
Soil sampling by previous explorers and the presence of historical adits indicate that there is Sb-Au mineralisation present. More recent sampling by the current owners has returned encouraging polymetallic results, including samples with >1% Sb, up to 4.19% Cu, 455 g/t Ag and anomalous Au. These samples were selectively collected, but support the prospectivity of the licence.
Lom and Zalomy are located adjacent to each other, within the southern foothills of the Low Tatras. Lom is a small, tightly focused licence centred on the historical Lom mine, while Zalomy is a larger licence application immediately east of Lom, extending into the Mlynná valley.
The regional setting is prospective for structurally controlled hydrothermal Sb-Au mineralisation, particularly where veins are developed along faults and shear zones.
Lom hosts a structurally controlled Sb-Au vein system with a reported strike length of approximately 600 m, trending NW-SE and dipping steeply west. Mineralisation occurs as irregular, discrete high grade shoots containing massive stibnite, quartz and associated sulphides, with reported vein widths commonly between 0.2 m and 2 m and locally up to 4 m.
Historical mining at Lom targeted narrow, high-grade stibnite-quartz ore shoots. Between 1941 and 1944, reported mined grades ranged from approximately 2.3% to 4.2% Sb and 3.1 g/t to 4.2 g/t Au, supporting the potential for high-grade mineralisation, although continuity and mined-out volumes remain key uncertainties. A historical and unverified estimate for part of the deposit, reported approximately 530 kt at 0.98% Sb and 1.5 g/tAu.
Zalomy provides additional exploration upside east of Lom, where several historical occurrences and workings are reported in the Mlynná valley area. Available mapping suggests that one of these, Valachovo, may represent an Sb-Au vein system with similar mineralisation to Lom, while other occurrences in the area may reflect different mineralisation styles.
Zlatá Baňa application licence is the most data-rich area in the portfolio. Unlike Poproc, Lom and Zalomy, which are mainly structurally controlled Sb-Au vein systems, Zlatá Baňa is primarily a polymetallic (Zn-Pb) target associated with andesite and diorite in the core of a stratovolcano, with Sb-Au mineralisation identified at the peripheries.
Three principal vein assemblages are recognised: base-metal, Au-Ag and Sb-Hg. Antimony mineralisation is interpreted as a late-stage event occupying parts of the same vein structures, with reported Sb-bearing veins around 400 m long and steeply dipping. Stibnite is mainly developed in the upper parts of the system, typically within the top 100 m.
Historical estimates indicate that Zlatá Baňa contains a sizeable Pb-Zn-Ag-Au polymetallic system, although these estimates are historical and should not be relied upon as current Mineral Resources. One historical estimate reports approximately 12.0 Mt of C2 material at average grades of 1.30% Zn, 0.43% Pb, 10.5 g/t Ag and 0.38 g/t Au; a later estimate reports approximately 8.9 Mt at 1.14% Pb, 2.42% Zn, 1.35 g/t Au and 43.2 g/t Ag
A detailed presentation on the assets will be available on the Company's web site.
The Directors of the Company accept responsibility for the contents of this announcement.
Enquiries:
Company:
Rolf Gerritsen
Clear Capital Markets Limited:
Broker
Bob Roberts
+44 (0) 20 3869 6080
AlbR Capital Limited:
Corporate Adviser:
+ 44 (0) 20 7469 0930
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