The New Brunswick government has signed an exploration agreement for the former Lake George mine site.
The agreement gives Avenir Minerals exclusive rights to explore the property and determine whether future development could be viable.
The project supports the province’s minerals strategy, which aims to strengthen New Brunswick’s mineral sector, attract investment and advance responsible mineral development.
Located about 30 kilometres southwest of Fredericton, the former Lake George mine was once North America’s largest primary antimony producer.
The site also contains an estimated 800,000 tonnes of antimony-bearing ore and has potential for tungsten, molybdenum and gold, according to a historical technical report.
Natural Resources Minister John Herron said the agreement marks an important step in advancing the province’s minerals sector.
“The signing of this agreement marks an important milestone in advancing New Brunswick’s minerals sector,” Herron said.
“Exploration at the former Lake George mine site will help us better understand its potential for antimony and other critical minerals and identify opportunities to attract investment, support economic growth and create lasting benefits for New Brunswickers.”
The agreement gives Avenir Minerals exclusive rights to explore the former mining lease and assess whether future mining at the site, as well as the reprocessing of existing mine tailings, could be viable.
Provincial officials stressed that the agreement authorizes exploration only and does not allow the mine to reopen.
Any future mining activity would require additional approvals and compliance with environmental and regulatory requirements.
Avenir Minerals was selected in July following a call for expressions of interest issued by the province in the spring.
Antimony is classified as a critical mineral by Canada, the United States and the European Union. It is used in batteries, flame retardants and other advanced technologies.
With much of the global supply concentrated in China, demand has grown for secure and reliable sources.
Avenir Minerals CEO Alden Greenhouse said the company plans to focus on exploration while working closely with local communities and First Nations.
“This agreement allows us to better understand the mineral potential of the Lake George property through responsible exploration,” Greenhouse said.
“We are pleased to be working in New Brunswick and becoming part of the broader mining community in Atlantic Canada. At this stage, our focus is on advancing exploration work while building constructive relationships with First Nations and local communities. We are committed to moving forward responsibly and collaboratively.”
The site has been under provincial care since its mining lease was cancelled in 2020. The province said exploration work will be carried out at no direct cost to the government.
Under the agreement, Avenir Minerals will be responsible for ongoing engagement with First Nations, municipalities and landowners in accordance with its engagement plan and provincial requirements.
The company plans to begin exploration work early next year.
Avenir Minerals was established as a subsidiary of Agnico Eagle Mines Ltd. to evaluate and advance critical minerals projects, with an initial focus on opportunities in Canada.
