Evion Secures Option on Nevada Fluorspar Property
Mining-sector operators and fluorspar buyers should track whether untested Nevada samples confirm commercially viable calcium fluoride resources.
Updated on Nov. 2, 2026 in Corporate Finance
Evion Group secured an option to acquire a majority interest in the Blue Nose property in Nevada, a 40-claim site about 1.2 kilometres northwest of its Carp Fluorspar Project. Under the binding option and joint venture agreement with Infrastructure Materials, Evion can earn up to a 75% interest in non-reserved minerals, with initial consideration of US$250,000 and 1 million shares at closing.
Why it matters
The deal lets Evion expand its consolidated holdings to 99 unpatented lode claims covering about 829 hectares and re-evaluate historical drill material rather than drill new holes. It fits Evion's strategy of building an integrated graphite and fluorspar supply chain spanning Madagascar, India, Europe and the US.
The agreement covers 40 claims with total cash consideration of US$1.5 million and 4 million shares issued over two years, against a historical record of 63 drill holes totaling 9,116.6 metres from 2009 to 2010. More than 5,600 stored samples have never been tested for fluorine, and recent surface sampling reached grades up to 88.15% CaF2.
The players
Evion Group
A mining company developing an integrated graphite and fluorspar supply chain across Madagascar, India, Europe and the US, and operator of the Carp Fluorspar Project in Nevada.
Infrastructure Materials Corp.
A Nevada-focused exploration company that completed the 2009-2010 drilling program on the Blue Nose property and is the counterparty to the option agreement.
The details
Evion entered a binding option and joint venture agreement with Infrastructure Materials, with initial consideration of US$250,000 and 1 million shares at closing, followed by staged payments over the next two years. A US$30,000 due diligence payment and a 60-day due diligence period precede the commitments. Evion plans to re-assay 5,600 stored samples held in Reno to determine fluorspar content, drawing on material from drilling that was completed but never fully analysed for fluorine.
Timeline
2009-2010: Infrastructure Materials completed 63 drill holes covering 9,116.6 metres on Blue Nose.
1958-1971: The Carp pit produced about 44,900 tonnes of material grading around 69% CaF2.
- 2026-11-02
Evion announced the Blue Nose option agreement.
Within 60 days of the agreement: due diligence period concludes.
Over the following two years: Evion makes staged cash and share payments to Infrastructure Materials.
Market Landscape
The Blue Nose option sits alongside Evion's existing Carp Fluorspar Project, building on a Nevada production history that dates to the 1958-1971 Carp pit operations. The company is positioning fluorspar as one link in a broader graphite and fluorspar supply chain spanning several continents.
Operators in critical-mineral supply chains should note that exploration-stage deals like this one tie costs to staged payments and share issuance, which can dilute holdings over time. Companies in fluorspar-dependent manufacturing may watch whether domestic supply develops, though the source projects no immediate price impact.
The takeaway
Businesses tracking domestic mineral supply should treat the re-assay of stored samples as the key data point to watch, since it will determine whether the resource is commercially viable. Operators can calendar the two-year payment schedule and the due diligence milestone when assessing exposure to this supply development.
Further reading
For more on how companies structure deals like this, explore Corporate Finance coverage in Nevada.
Source note: This article includes information reported by Chemanalyst.
