Skyrocketing antimony prices and trade war tensions with China have prompted many American mining companies to re-examine their properties.
On Tuesday, junior operator Phenom Resources Corp (CVE: PHNM) (OTCMKTS: PHNMF) discussed the growing importance of the metalloid element for American national security. In a press release, Phenom revealed that historic grab samples taken from its King Solomon gold project in Nevada had exceptionally high antimony (Sb) content.
Two of these samples extracted from a gold and silver vein yielded 38.8 per cent and 12.5 per cent Sb. Around 10 per cent is considered high-grade, generally.
“In light of the attention antimony is getting as an important critical metal for the U.S., and the U.S. government’s support to advance key antimony projects, it is worth noting the antimony association on the King Solomon project,” the company stated.
King Solomon was originally mined for antimony and silver during its initial years beginning in 1936. According to the Nevada Bureau of Mines, the site produced somewhere between 100 and 1,000 tonnes of the critical mineral.
However, many of the holes drilled in previous decades were primarily aimed at gold mineralization without much consideration of byproducts. Antimony was not a very valuable commodity in the late 20th century.
“Elevated antimony values are present in some of the 1980-1995 drill holes exploring for gold on King Solomon but was not routinely analyzed in those days so the larger antimony picture at King Solomon has not been evaluated or characterized,” Phenom explained.
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Nevada mine sites are antimony hotbeds
The state was already renowned as one of the world’s top mining jurisdictions, particularly for gold and silver. Now, Nevada’s antimony mineralization, overlooked in recent years, has been garnering much more attention.
Another junior operator, Global Tactical Metals Corp (CNSX: MONI) (FRA: A7F), just pulled a high-grade antimony sample from a past-producing mine in northwestern Nevada. It contained 17.7 per cent Sb.
The company’s inaugural antimony sampling round at the Green Mine was inspired by heightened enthusiasm and intrigue among investors and U.S. government agencies like the Department of Defense.
Nevada operator NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has also increased its antimony focus. NevGold has been intercepting consistent antimony mineralization during its recent drill programs at the Limousine Butte project in White Pine County.
China, a nation that once provided over three quarters of the antimony needed in the U.S., cut off its exports in December. The Americans are now relying more heavily on other foreign suppliers and seeking to rapidly advance feasible domestic projects.
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