Canadian junior Armory Mining Corp (CNSX: ARMY) (OTCMKTS: RMRYF) (FRA: 2JS) is setting up shop beside Military Metals Corp (CNSX: MILI) (OTCMKTS: MILIF) (FRA: QN90) to mine antimony in Nova Scotia.
Last week, the prospector agreed to take a 100 per cent stake in the “Ammo” project after amending previously agreed upon terms. Providing approximately 384,000 shares to the unnamed vendor in the immediate future is the only remaining requirement for obtaining full ownership. Armory has already paid C$25,000 in cash and provided 750,000 common shares.
The junior mining company says it completed a round of data compilation at the site in early 2025 and is now preparing to begin an exploration campaign.
“The area, particularly Military Metals’ adjacent West Gore project, is an established antimony-gold camp with historical production,” said chief executive, Alex Klenman, in a news release on Sept. 11. “We are eager to get to the next step at Ammo.”
West Gore has a lengthy history of antimony production dating all the way back to the First World War. Between 1914 to 1917, the site yielded over 7,000 tons of antimony concentrate with an average grade of 46 per cent. Antimony was first identified on the property by a local farmer in 1880 before high grade stibnite ore was pinpointed in the area three years later.
Ore samples from West Gore were put on display at international events. The 1886 Colonial & Indian Exhibition and the Paris International Exhibition in 1900 are worthy of note.
Its production run unfortunately ended before the war concluded when a German U-boat torpedoed a ship carrying antimony concentrate to Wales. This financial blow rendered West Gore a past-producing mine.
After antimony’s price skyrocketed due to Chinese trade war escalations and other factors, Military Metals decided to it was time to try and reboot the project. Attempts to revive the site post-WWI ultimately failed after they were deemed economically unfeasible.
Read more: NevGold Corp’s limousine Butte drill program targets first Gold-Antimony resource estimate
Antimony is critical for producing ammunition
The name of Armory’s new project is fitting as antimony is an essential component for hardening lead and producing armour-piercing bullets. It is also imperative for precision optics and laser sighting required on the firearms that discharge them.
Additionally, the metalloid element is used for ammunition primers and tracer ammunition.
The unprecedented demand for antimony, brought on primarily by Chinese export controls, is further magnified by military stockpiling among NATO and EU nations in recent years and increases in defense spending. Russia’s invasion of Ukraine and the ensuing war is one major factor resulting in this heightened requirement.
Between 2020 to 2024, NATO defense spending rose by over 36 per cent.
Military applications currently consume about 18 per cent of the global antimony supply. Over the next five years, the global antimony market is projected to expand with 5 per cent compound annual growth.
Read more: GoldMining chooses to retain its NevGold shares for next 18 months
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