Aventis Energy Enters into Option Agreement to Acquire the Past-Producing Seneca VMS Project in Southwestern British Columbia

Skip to Content News Archives Economy Defence Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Defence Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Defence Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeGlobeNewswireThis section is The content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Aventis Energy Enters into Option Agreement to Acquire the Past-Producing Seneca VMS Project in Southwestern British ColumbiaAuthor of the article:VANCOUVER, British Columbia, Oct. 28, 2026 (GLOBE NEWSWIRE) — Aventis Energy Inc. (CSE: AVE | FRA: C0O0 | OTC: VBAMF) (“Aventis” or the “Company”) is pleased to announce that it has entered into a property option agreement dated October 28, 2026 (the “Agreement”) with Turnagain Resources Inc. and 1240089 B.C. Ltd. (together, the “Optionors”) under which the Company has been granted the option to acquire a 100% interest in the Seneca Project (“Seneca” or the “Project”), a past-producing volcanogenic massive sulphide (“VMS”) property one hundred and twenty (120) kilometres by road east of Vancouver, British Columbia (Please see Figure 1).THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThis advertisement has not loaded yet, but your article continues below.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againHistorical bulk shipment. Shearer (2023), citing the British Columbia Ministry of Mines and Petroleum Resources (1962), reports that 287 tons of crude ore from the Seneca open cut were shipped to Britannia Mines in 1961, with reported recoveries of 17 ounces of gold, 959 ounces of silver, 7,118 pounds of copper and 40,657 pounds of zinc (Shearer, 2023, p. 9; PDF p. 11).Historical high-grade polymetallic intersections. Reported drilling at Seneca includes 2.6 metres grading 20.28% zinc, 0.94% copper, 100 g/t silver and 3.05 g/t gold, from 63.4 to 66.0 metres in hole SN05-57, as named in the historical reports; and 7.8 metres grading 9.1% zinc, 1.0% copper, 84.6 g/t silver and 2.8 g/t gold in hole 71-6. Both are reported core lengths (Shearer, 2023, pp. 24–25; PDF pp. 26–27).Four (4) historically identified zones along a 4.5-kilometre mineralized belt. Shearer (2023), summarizing Chapman (1999), places the Seneca, Vent, Fleetwood and 33 zones along a northwest-trending belt of felsic to intermediate volcanic rocks, with detailed drilling historically concentrated locally at Seneca and Vent.This advertisement has not loaded yet, but your article continues below.Michael Mulberry, Chief Executive Officer of Aventis, commented: “We are thrilled to add Seneca to the Aventis portfolio. This is a past-producing VMS project with more than 100 drill holes, high-grade polymetallic intersections such as 2.6 metres of 20.28% zinc, 0.94% copper, 100 g/t silver and 3.05 g/t gold, and four known zones along a 4.5-kilometre belt, all 120 kilometres by road from Vancouver. Only two of those zones have been drilled in detail, and the ground between them, including an untested electromagnetic anomaly and an undrilled 800 by 800 metre block, is wide open. That is exactly the kind of opportunity we look for: decades of work behind it and obvious targets in front of it. Seneca complements our Corvo uranium and Sting copper assets and gives Aventis a third high-quality project in a top-tier jurisdiction. We are moving immediately to consolidate fifty years of data into one database, define drill targets and get to work on the ground.”The Project is comprised of three (3) contiguous mineral claims totalling 863.16 hectares on the east side of the Chehalis River, with road access by Highway 7 through Harrison Mills and the Chehalis Fleetwood Forest Service Road, and a power line on the Project boundary. Mineralization is Kuroko-type VMS in Jurassic Weaver Lake Member volcanic rocks: stratabound massive sulphide lenses of pyrite, sphalerite, chalcopyrite and galena with barite, over stockwork feeder zones in altered dacite. Cominco, Chevron, Curator, BP-Selco and Minnova drilled the property between 1971 and 1993, and Carat Exploration Inc. flew airborne geophysics and drilled nineteen (19) holes in 2004 to 2006. The historical reports indicates the presence of more than one hundred (100) drill holes, 347 line-kilometres of airborne geophysics and more than 2,700 soil and rock samples is compiled in an independent NI 43-101 technical report dated October 1, 2023 (the “2023 Technical Report”) prepared on the predecessor claims covering the Seneca, Vent and Fleetwood zones, which recommends data compilation, geophysical reinterpretation, soil sampling and mapping to define drill targets.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Figure 1. Seneca Project Regional Map – Aventis EnergyTable 1. Selected historical drill intersections (core length)ZoneHoleFrom(m)To(m)Corelength(m)Zn(%)Cu(%)Pb(%)Ag(g/t)Au(g/t)SenecadepositSN05-5763.466.02.620.280.94—1003.05Senecadeposit71-6NRNR7.89.11.0—84.62.8Vent85-1243.453.09.63.80.21.228.80.733392-33NRNR3.2023.301.831.711332.33Sources: Shearer (2023), printed pp. 10, 24-25 and 29, and Chapman (1999), printed pp. 5-7. Grade precision follows the 2023 report. NR means interval depths not stated in the reviewed summaries. A dash means the metal value was not reported, not zero. Assay data for hole 71-6 are not in the assessment reports.Figure 2. Seneca Project Claim Map – Aventis EnergyTerms of the Option AgreementPursuant to the Agreement entered into on October 28, 2026 (the “Effective Date”), the Company has an option (the “Option”) to acquire a 100% undivided interest in the Project, by paying the Optionors an aggregate of $250,000 in cash ($25,000 within 10 business days of the Effective Date and $50,000, $75,000 and $100,000 on or before the first, second and third anniversaries of the Effective Date), issuing to the Optionors common shares of the Company (the “Shares”) with an aggregate value of $400,000 ($40,000 in Shares within 30 business days of the Effective Date and $80,000, $120,000 and $160,000 in Shares on or before the first, second and third anniversaries of the Effective Date) and incurring a minimum of $150,000 in exploration expenditures on the Project ($60,000 on or before the first anniversary of the Effective Date and $45,000 on or before each of the second and third anniversaries of the Effective Date). The Company may accelerate any cash payment, Share issuance or exploration expenditure at its election.This advertisement has not loaded yet, but your article continues below.Upon exercise of the Option, the Optionors will be granted a 2% net smelter returns royalty on the Project, which the Company may purchase at any time in 0.5% increments for $250,000 each, totalling $1,000,000 for the full royalty. The Company will be the operator of the Project during the Option period. Any mineral claims staked or acquired by the Optionors within five kilometres of the Project during the Option period will be subject to a right of first refusal in favour of the Company.Shares issued under the Agreement will be issued at a deemed price per Share equal to the volume-weighted average closing price of the Company’s Shares on the Canadian Securities Exchange (the “CSE”) for the three (3) trading days immediately prior to each issuance. In addition to any hold period required under applicable securities laws and the policies of the CSE, the Shares issued pursuant to the Agreement will be subject to contractual resale restrictions under which the first tranche will be released over thirty-six (36) months from issuance, the second tranche released over twenty-four (24) months from issuance, the third tranche released over twelve (12) months from issuance and the fourth tranche released six (6) months from issuance. The Agreement is subject to acceptance by the CSE.This advertisement has not loaded yet, but your article continues below.About Aventis Energy Inc.Aventis Energy Inc. (CSE: AVE | FRA: C0O0 | OTC: VBAMF) is a mineral exploration company dedicated to the development of strategic projects comprised of battery, base and precious metals in stable jurisdictions. The Company is working to advance its Corvo Uranium & Sting Copper Project. The Company also holds an option to acquire a 100% interest in the Seneca Project, a past-producing polymetallic VMS property 120 kilometres east of Vancouver, British Columbia.On Behalf of the Board of DirectorsMichael MulberryChief Executive Officer, Director+1 (604) 229-9772 | info@aventisenergy.comQualified Person StatementThe scientific and technical information in this news release has been reviewed and approved by Robert Hearst, P.Geo., Principal Geophysicist with Convolutions Geoscience Corporation (“CGC”), acting as a consultant to Aventis Energy Inc. Mr. Hearst is a Qualified Person as defined by National Instrument 43-101 — Standards of Disclosure for Mineral Projects and has supervised CGC’s compilation and documentary review within the scope and limitations described in this release.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.This work was limited to comparing the technical disclosure with available cited historical reports and did not include field inspection, independent collar surveys, resampling or laboratory verification.CGC did not undertake or supervise the historical exploration work; historical results and interpretations are attributed to their original authors. Complete original drilling, sampling, analytical and quality-control records were unavailable for all reported results, and the underlying historical data and present target status have not been independently verified.Scope of Compilation and LimitationsCGC’s review confirms that these statements appear in the cited reports; it does not independently verify the underlying production records, assays, drill locations or present target status. Shearer identifies limitations affecting historical drilling verification and cautions that reported grades may not represent future results.CGC’s review was limited to obtaining, reviewing and summarizing the available documents and comparing the information presented with the cited sources. Confirmation that information appears in a source document does not constitute independent verification that the reported work was completed as described or that the underlying data is accurate or complete.This advertisement has not loaded yet, but your article continues below.This compilation did not include field inspections, independent collar surveys, resampling or laboratory verification of historical analytical results. CGC noted material inconsistencies, missing records, and limitations identified during the review where relevant.CGC did not obtain a copy of the reported 2004 NI 43-101 technical report for the Seneca Project and therefore has not reviewed its contents or confirmed its status. Any information attributed to that report through a later publication must be identified as a secondary citation.Historical observations, results and interpretations are attributed to their respective source authors. CGC’s involvement was limited to collecting, briefly reviewing and summarizing the available historical material. CGC did not undertake or supervise the historical exploration work and has not independently verified the underlying data. Historical observations, results, interpretations and conclusions are attributed to their original authors and are not adopted as CGC’s own findings or conclusions. CGC does not assume responsibility for the work performed, data generated, or interpretations and conclusions presented by previous authors.This advertisement has not loaded yet, but your article continues below.The following British Columbia assessment reports are archived by the provincial government and are publicly available through https://apps.nrs.gov.bc.ca/pub/aris/SearchAllen, D. G. (2015). Technical Report on the Seneca VMS Project. Prepared for NSS Resources Inc., May 15, 2015. British Columbia Assessment Report 35424.Arnold, R. (1996). Geological, Geophysical and Geochemical Report on the Picnic, Carol 2 and IC 25–30 Claims. Prepared for Riverstone Resources Inc. and International Curator Resources Ltd., December 13, 1996. British Columbia Assessment Report 24750.Arscott, D. (1977). 1977 Program Assessment Work Report, Geochemical Surveys, Geological Mapping, Line Cutting, and Road Building, Seneca Property. Prepared for Chevron Standard Ltd., October 15, 1977. British Columbia Assessment Report 6453.Author unidentified. (1970–1971). Line-Cutting Report, Harrison and Lucky Jim Mineral Claims. Prepared for Zenith Mining Corporation Ltd. British Columbia Assessment Report 2998. Map dated December 1970; receipt dated 1971; complete report date not established.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Baxter, P. (1990). Geological and Geochemical Report, Seneca Property, Earl Claim. Minnova Inc., September 4, 1990. British Columbia Assessment Report 20289.Bradford, J. (1991). Geological and Geochemical Report, Seneca Property, Dorothy 7 Claim. Minnova Inc., February 25, 1991. British Columbia Assessment Report 21015. Reports 1990 fieldwork.Burge, C. (1992). Diamond Drilling Assessment Report on the Seneca Property. Minnova Inc., February 20, 1992. British Columbia Assessment Report 22171. Reports 1991 work.Burge, C. (1993). Diamond Drilling Assessment Report on the Seneca Property. Minnova Inc., April 14, 1993. British Columbia Assessment Report 22915. Reports 1992 work.Burge, C. (1994). Diamond Drilling Assessment Report on the Seneca Property. Metall Mining Corporation, June 29, 1994. British Columbia Assessment Report 23417.Chapman, J. (1995). Geological and Geochemical Report on the Dorothy 12 and 13 Claims, Seneca Property, Southwestern British Columbia. Prepared for International Curator Resources Ltd., December 1995. British Columbia Assessment Report 24318.This advertisement has not loaded yet, but your article continues below.Chapman, J. (1997). Diamond Drilling Report on the IC 27–31 Claims, Seneca Property, Southwestern British Columbia. Prepared for Riverstone Resources Inc., November 1997. British Columbia Assessment Report 25232.Chapman, J. (1998). Geological and Geochemical Report on the I AM 50–56 Claims, Seneca Property, Southwestern British Columbia. Prepared for Riverstone Resources Inc., June 1998. British Columbia Assessment Report 25548. Reports March 1998 fieldwork.Chapman, J. (1999). Data Compilation Report on the Seneca Property, Southwestern British Columbia. Prepared for Riverstone Resources Inc., September 1999. British Columbia Assessment Report 26011.Cooke, D. L. (1974). Diamond Drilling Report, Seneca 1-74, 2-74, 3-74 and 4-74 Claim Groups, Chehalis River. Cominco Ltd., October 15, 1974. British Columbia Assessment Report 5233.Cooke, D. L. (1975). Diamond Drilling Report, Seneca 1-74 and 3-74 Claim Groups, Chehalis River. Cominco Ltd., May 29, 1975. British Columbia Assessment Report 5476.Delorme, C. (2016). Technical Report on the Seneca VMS Project, Geochemical and Prospecting. NSS Resources Inc., April 6, 2016. British Columbia Assessment Report 36097, Event 5595894.This advertisement has not loaded yet, but your article continues below.Holroyd, R. W. (1988). Seneca Property, Harrison Lake Area, British Columbia, Report on Geophysical Surveys, September 1988. Prepared December 1988. British Columbia Assessment Report 18261.Howell, W., and Arscott, D. (1979). 1979 Diamond Drilling Program, Agassiz Project, Dorothy, I AM, Sir, Mary J and Dot Claims. Chevron Standard Ltd. / Chevron Canada Ltd. British Columbia Assessment Report 7632, including narrative and drill-log volumes.McKinley, S. D. (2005). Geological and Geochemical Assessment Report on the Seneca Property. Cambria Geosciences, prepared for Carat Exploration Inc., March 15, 2005; amended October 2, 2005. British Columbia Assessment Report 27679. Reports 2004 fieldwork.McKinley, S. D. (2006). Assessment Report on Diamond Drilling and Stream Geochemistry, Seneca Project. Cambria Geosciences Inc., prepared for Carat Exploration Inc., August 31, 2006. British Columbia Assessment Report 28511. Reports December 2005–February 2006 drilling and 2005 stream sampling.McKinley, S. D. (2006), with contractor report by Fiset, N. (2005). Report on a Helicopter-Borne Magnetic and Electromagnetic Survey, Seneca Project. Prepared for Carat Exploration Inc. British Columbia Assessment Report 28473. Author’s certificate dated July 14, 2006; Aeroquest contractor report dated June 20, 2005; survey flown April 10–19, 2005.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Pegg, R. (1986). Physical, Geological, Geochemical, Geophysical and Diamond Drilling Report on the Seneca Property, Dorothy 1–14 and I AM 50–56 Claims. Selco Division, BP Resources Canada Ltd., November 1986. Report BPVR 86-13; British Columbia Assessment Report 15459, including both local volumes.Pegg, R. (1986). Physical, Geological, Geochemical, Geophysical and Diamond Drilling Report on the Seneca Property. November 1986. British Columbia Assessment Report 15734, including both local volumes. Alternate filing of BPVR 86-13; overlaps Assessment Report 15459 and does not represent an additional drilling campaign.Shearer, J. T. (2021). Geochemical Assessment Report on the Seneca Project, British Columbia. Prepared for 1240089 BC Ltd. and Turnagain Resources Inc., June 29, 2021. British Columbia Assessment Report 39516, Event 5839532.Shearer, J. T. (2023). Technical Report on the Seneca Project, British Columbia. Prepared for 1240089 BC Ltd. and Turnagain Resources Inc., October 1, 2023.Sookochoff, L. (2019). Geological and Geochemical Assessment Report, Seneca Property, Tenures 1060112 and 1060113. Prepared for John Bakus / Turnagain Resources Inc. Submitted September 16, 2018; amended January 6, 2019. British Columbia Assessment Report 37553. Reports April 14–29, 2018 fieldwork.This advertisement has not loaded yet, but your article continues below.Sookochoff, L. (2024). Structural and Rock Sampling Assessment Report, Seneca Property, Tenures 1108153 and 1107437. Prepared for John Bakus / Turnagain Resources Inc. Submitted February 9, 2024; modified and submitted February 13, 2024. British Columbia Assessment Report 41522, Event 6000733. Reports October 17–19, 2023 fieldwork.The following references were identified in reviewed reports. Their original documents were not obtained or reviewed.McKinley, S. D., Fraser, S., and Gilmour, W. (2004). Technical Report, Seneca Property, Harrison Lake Area, British Columbia, Canada. Prepared for Carat Exploration Inc. Cited in Shearer (2023), printed p. 49, PDF p. 51. Filing status has not been independently confirmed. This report is distinct from Assessment Report 28473.McKinley, S. D., and Giles, G. (2007). Report on the 2006–07 Exploration at the Seneca Property, New Westminster Mining Division, Harrison Mills, Southwestern British Columbia. Private report prepared for Carat Exploration Inc. Cited in Allen (2015), Assessment Report 35424, printed p. 55, PDF p. 57.This advertisement has not loaded yet, but your article continues below.Disclaimer for Forward-Looking InformationThis news release includes certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information.Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Aventis, future growth potential for Aventis and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of uranium, copper, gold and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Aventis’ ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.This news release contains “forward-looking information” within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, statements with respect to the Agreement, including the Company’s ability to make the cash payments, Share issuances and exploration expenditures required to exercise the Option and the receipt of CSE acceptance; the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; and further exploration work on the Project in the future. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of uranium, copper, gold and other metal deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.Photos accompanying this announcement are available atThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.