Perpetua Resources Corp (TSE: PPTA) (NASDAQ: PPTA) is advancing construction and exploration work at its Stibnite Gold Project in central Idaho.
The company said Tuesday that critical-path construction is progressing after the project secured final federal approvals in 2025. Work includes processing equipment fabrication, worker housing, site infrastructure and development of the project’s main access route.
Additionally, Perpetua is continuing a 10,000-metre exploration drilling program targeting gold, antimony and tungsten mineralization around Stibnite’s planned pits.
President and CEO Jon Cherry said the work demonstrates continued progress as the company moves toward developing the project.
Perpetua placed purchase orders earlier this year for essential components of two autoclaves planned for the Stibnite processing facility. Fabrication of the equipment is now underway at a custom facility in Europe.
Autoclaves use high temperatures and pressure to process ore and help recover valuable metals. The Stibnite units will form important components of the project’s planned gold processing operation.
Meanwhile, Perpetua is developing permanent accommodations for workers expected to build and eventually operate the remote mine.
Temporary workforce housing is already available at Stibnite. However, the company is now installing a permanent modular housing facility designed for year-round use.
Approximately half of the ATCO-supplied housing units had arrived at Stibnite as of Aug. 24. The remaining units were staged about 121 kilometres away in Cascade.
Additionally, Perpetua said deliveries are occurring nearly every day. Crews have completed grading and installed utilities at the permanent housing site.
Construction is also progressing on the project’s Administrative Pad and Burntlog Route.
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Company has completed over half of its 10,000-metre program
The Administrative Pad will eventually contain administrative buildings, emergency services and other infrastructure needed to support the mining operation.
Furthermore, the U.S. Forest Service selected the Burntlog Route as its preferred and environmentally preferred alternative during the federal environmental review.
The road will become Stibnite’s primary access route once construction is complete.
Perpetua is simultaneously drilling several exploration targets following mineralization identified during its winter program. Four drill rigs are currently operating across the property.
The company has completed approximately 5,800 metres of its planned 10,000-metre program.
Additionally, drilling continues at the Clark Tunnel Fault Zone near the southeastern edge of the planned Yellow Pine pit.
Previous drilling there returned 6.4 metres grading 16.2 grams per tonne gold and 1.7 per cent antimony from surface. Another interval returned 15 metres grading 6.3 grams per tonne gold and 0.8 per cent antimony from 11 metres deep.
Perpetua said the mineralization sits near surface and within the permitted pit footprint. Consequently, the company decided to continue testing the zone during its 2026 program.
The Clark Tunnel Fault Zone has also produced a new gold and tungsten discovery.
Drilling returned 21.3 metres grading 3.2 grams per tonne gold and 0.9 per cent tungsten from 24 metres deep. Crews have also observed scheelite, a tungsten-bearing mineral, during ongoing drilling.
Meanwhile, work at the Huckleberry Fault Zone is testing mineralization immediately beside the Yellow Pine reserve pit limits.
Widely spaced drilling and surface sampling there returned 69.6 metres grading 0.8 grams per tonne gold.
In addition, drilling continues at Hangar Flats, where Perpetua is targeting gold, antimony and tungsten.
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U.S. government expands domestic antimony supply
Near-surface drilling returned three metres grading 14.5 grams per tonne gold. Deeper drilling beneath the reserve pit encountered substantial antimony and tungsten mineralization.
One interval returned 22.9 metres grading 3.2 per cent antimony and 1.2 per cent tungsten. Another returned 9.8 metres grading 8.3 per cent antimony and 4.6 per cent tungsten.
However, Perpetua would require additional environmental review and permitting before developing tungsten outside the project’s currently approved scope.
The exploration work comes as Perpetua expands its relationship with the U.S. government around domestic antimony production.
Perpetua, the U.S. Army and Idaho National Laboratory opened a modular mineral processing plant in Idaho Falls on July 29.
The facility will initially process Stibnite antimony samples into antimony trisulfide for military applications. The material is used in ammunition manufacturing and other defence applications.
Additionally, antimony has industrial uses in batteries, solar glass and flame retardants.
The pilot plant follows several years of cooperation between Perpetua and the U.S. Army. Since 2022, Perpetua has received more than USD$87 million from the U.S. government and Army.
That funding includes more than USD$59 million through the Defense Production Act. Furthermore, a recent USD$4.7 million award increased Army funding under a separate ordnance technology agreement to USD$27 million.
Stibnite contains the only identified antimony reserve in the United States, according to Perpetua. The historic mining district once supplied substantial amounts of antimony and tungsten to the U.S. government during the Second World War.
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US government has been buying stakes in critical minerals companies
Perpetua forms part of a broader U.S. effort to rebuild domestic supplies of antimony and other critical minerals. Congress provided the Defense Logistics Agency with USD$2 billion in fiscal 2025 to acquire additional materials for the National Defense Stockpile. The agency subsequently began preparing contracts covering more than 30 critical materials. Additionally, the DLA lists antimony among its highest-priority materials for efforts to restore vulnerable domestic supply chains.
The federal government has also taken the unusual step of buying stakes in critical-mineral companies. Its investments include Trilogy Metals (TSE: TMQ) (NYSEAMERICAN: TMQ), Lithium Americas (TSE: LAC) (NYSE: LAC) and MP Materials (NYSE: MP), signalling a willingness to directly support strategically important domestic projects. Meanwhile, other miners are advancing potential U.S. antimony supplies. NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) recently outlined a maiden gold-antimony resource at its Limousine Butte project in Nevada.
Additionally, Nova Minerals (NYSE: NVA) is developing an antimony supply chain around its Estelle project in Alaska, while United States Antimony (NYSE: UAMY) is expanding domestic processing and Alaskan mining operations with U.S. government support.
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