Americas Gold and Silver Corporation (TSE: USA) (NYSEAMERICAN: USAS) (FRA: SZ71) reported new exploration drilling results at its Galena Complex in Idaho, adding another discovery near its existing 149 Vein system.
The company completed diamond drilling from the 4300 Level during the first quarter of 2026, according to a Thursday press release. The company identified up to six high-grade silver-copper-antimony vein splays southwest of the 149 Vein. These new structures sit roughly 150 metres away and lie within 25 metres of existing mine infrastructure.
The company has named this zone the 43L-TJ Vein Complex. Additionally, it consists of multiple silver-copper-antimony veins, sometimes containing lead. Management said the proximity to current workings could support faster development timelines.
Executives indicated that follow-up drilling will begin soon to better define the discovery. Furthermore, the company plans to drive an exploration drift into the area. This work aims to improve understanding of the geological controls shaping mineralization.
Chief executive Paul Andre Huet said the team continues to expand Galena through targeted exploration efforts. He added that the latest discovery follows a similar path to earlier finds that quickly moved toward development. In addition, Huet pointed to the company’s aggressive drilling program and established infrastructure as key advantages.
“This marks our fourth major new discovery and highlights four high-grade discoveries in just one year of drilling, underscoring the significant untapped potential across the Galena Complex,” said Huet.
“Located just 25m from existing infrastructure, the 43L-TJ Vein is wide open for expansion and will remain a focus of our team to aggressively advance this high-grade opportunity in 2026.
Read more: NevGold targets U.S. critical mineral supply chain with new antimony-gold find
Read more: NevGold expands high-grade antimony discovery at Nevada’s Limousine Butte Project
Grades at the site rank among the highest for silver
The Galena Complex has produced silver, copper, lead, and antimony for decades. The company believes the new veins reinforce the asset’s growth potential. Management also noted that grades at the site rank among the highest for silver operations globally.
The company consolidated full ownership of Galena in December 2024. Consequently, it acquired the remaining stake from investor Eric Sprott, who had previously held 40 per cent. That transaction made Galena a central asset within the company’s portfolio.
Americas Gold and Silver produces metals from operations across the United States and Mexico. Additionally, it focuses on silver, copper, lead, and antimony production. The company also positions Galena as the largest antimony mine in the United States, a metal increasingly tied to critical mineral supply chains.
However, this shift is not isolated, as a growing number of mining companies are repositioning assets to capture rising demand for antimony and other critical minerals.
NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) reported metallurgical test results on April 2 showing strong gold recoveries following antimony extraction, reinforcing the viability of a dual-metal processing approach.
The company said Phase II testwork returned average gold recoveries above 93 per cent from cyanide shake leach tests. Additionally, some individual samples achieved recoveries as high as 99 per cent. These tests focused on residual tailings left after initial antimony leaching.
In practical terms, the results suggest that removing antimony first does not materially reduce gold recovery. Consequently, operators can process the same material through a conventional gold circuit afterward and still recover most of the remaining value.
Read more: NevGold delivers major growth at Idaho gold project
Read more: Antimony recovery results from NevGold’s Limo Butte project exceed expectations
Perpetua draws substantial financial and strategic backing
The findings support a growing strategy among junior miners to unlock multiple revenue streams from a single deposit. Furthermore, the ability to sequence antimony and gold recovery could improve project economics without requiring complex new processing systems.
A frequently cited benchmark in this space is Perpetua Resources (NASDAQ: PPTA) (TSE: PPTA), which is advancing its Stibnite gold-antimony project in Idaho. The project has drawn substantial financial and strategic backing tied to its critical mineral profile.
Perpetua has secured nearly USD$75 million in funding from the U.S. Department of Defense. In addition, the company received a non-binding Letter of Interest for up to USD$1.8 billion from the Export-Import Bank of the United States. It also attracted a USD$180 million strategic equity investment from Agnico Eagle Mines Limited (NYSE: AEM) (TSE: AEM).
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