The state of Alaska has become one of the latest American targets for antimony (Sb) — a critical mineral in unprecedented demand within the country.
On Wednesday, Australian juniors Felix Gold Ltd (ASX: FXG) (OTCMKTS: FXGDF) and Nova Minerals Ltd (ASX: NVA) (OTCMKTS: NVAAF) (FRA: QM3) started new exploration campaigns at the Treasure Creek Antimony Project and Estelle property.
Felix will be collecting data needed for an upcoming feasibility study and aims to start producing Sb concentrate by the end of the year. Drilling and trenching have commenced at the site along with environmental studies and engineering work associated with setting up a process plant.
The Treasure Creek work area hosts one of Alaska’s most significant historical producers of the critical mineral: the Scrafford Mine. Between 1915 to 1977, this operation churned out about 2.4 million pounds of the commodity.
Antimony was much less valuable then than it is now. Throughout 2024 its price ascended by over 300 per cent and a tonne is currently going for more than US$60,000.
“With record antimony prices and a clear U.S. policy push for secure, domestic supply, we couldn’t be better placed,” Felix Gold’s Executive Director, Joe Webb, said in a statement last week.
Nova aims to produce inaugural MRE
Nova Minerals is targeting Sb and gold mineralization at the “Stibium” prospect area within its flagship project. Estelle is one of only nine feasible near-term antimony production assets in the world, according to a recent report from natural resource advisory and investment firm RFC Ambrian.
Nova’s aim is to produce an initial antimony-gold (Au) mineral resource estimate (MRE) at Estelle. Rock samples at the site have returned grades as high as 60.5 per cent Sb and 141 grams per tonne Au.
Nova chief executive Christopher Gerteisen says his company is currently in the midst of discussions with the Department of Defense. The talks are aimed at securing funding from the agency to fast-track the site into production for national security purposes.
The DoD’s commitment to securing domestic antimony production has been made clear through its continued investments in Idaho’s Stibnite gold-antimony project under development by Perpetua Resources Corp (TSE: PPTA) (NASDAQ: PPTA). Now, Alaska has become another state with modern Sb production promise.
$NVA owns a mine prospect in Alaska, solely on federal land. It's an antimony-gold prospect. Gold has been proven by drilling, antimony just surface level testing but drilling results forthcoming soon. I'm surprised no one is discussing this name. Would any metals and mining… pic.twitter.com/W997qGaVp7
— Mike (@Mike10947310) May 2, 2025
Read more: NevGold’s latest drill results extend priority target at Limo Butte by over 200 metres
Alaska has a rich antimony mining history
The state has near-term potential to help fulfill American needs and a highly influential antimony mining past.
During the Second World War the state’s Stampede mining operation produced about three quarters of the Sb in the United States. It was a crucial asset during the fight against the Axis powers. The mineral was particularly critical for flame retardant coatings on items like military tents and vehicle covers, helping to prevent Allied casualties on several occasions.
Production slowed immensely in the 1980s as obtaining the commodity from China became much cheaper.
As the Stampede site currently resides within Alaska’s Denali National Park, a restart prompted by bull market conditions is highly unlikely due to inherent environmental concerns.
Aside from The Last Frontier and Idaho, Nevada has also emerged as a particularly promising district for antimony production. NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) and Xtra Energy Ord Shs (OTCMKTS: XTPT) have two of the nation’s most attention-worthy Sb assets under development in the state.
Many people are unaware that #antimony was once mined in large quantities in Alaska before production centralized in China. This early 20th-century photo shows antimony ore awaiting shipment from Alaska's Interior. With international restrictions in place, North America needs a… pic.twitter.com/1PLuBbRgRt
— Silver47 (@Silver47co) May 8, 2025
Read more: NevGold pulls up even more promising antimony grades from Nevada property
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