Shares of Americas Gold and Silver Corporation (TSE: USA) (NYSEAMERICAN: USAS) (FRA: SZ71) surged on the markets Friday after the company reported intercepting an extremely rich interval of precious metal and copper.
The Canadian operator pulled 24,913 grams per tonne silver (Ag) and 16.9 per cent copper (Cu) in a 0.21-metre section from one of the holes. The bonanza-grade core came from the 149 Vein at the Galena Complex in Idaho’s Silver Valley mining region. The news comes as the price of silver is sitting at a 14-year high, trading for about US$37.75 per ounce.
Additionally, Americas Gold & Silver drilled 2,816 g/t Ag, 2 per cent Cu and 1.05 per cent antimony over 1.05 metres in another hole.
These results came out of a newly discovered high-grade extension at the 149 Vein. The company is pleased to have discovered significant antimony (Sb) mineralization in addition to the silver and copper.
In a high-grade vein deposit like the one these core samples came from, anything above 500 g/t Ag is generally considered to be exceptional. Furthermore, copper intercepts with 5 per cent or higher are also viewed as highly favourable.
“The identification of this high-grade copper-silver-antimony extension to the 149 Vein is an exciting development,” said chief executive, Paul Andre Huet, in a news release on Aug. 22. “This extension positions us to potentially expand production from an already high-performing vein.”
Americas Gold & Silver recently purchased five new underground vehicles for the Galena Complex. It has a rich history, having produced over 250 million ounces of silver throughout the past five decades.
Read more: Antimony recovery results from NevGold’s Limo Butte project exceed expectations
Any quantity of antimony is good right now
Although the 1.05 per cent Sb Americas Gold & Silver intercepted isn’t particularly outstanding, the commodity’s immense value at the moment has made it a profitable byproduct to have at any mining operation.
Idaho has a considerable antimony history, largely tied to the Stibnite Mining District. Perpetua Resources Corp (TSE: PPTA) (NASDAQ: PPTA) is currently in the midst of reviving a past-producing mine site in the region to cater to the unprecedented antimony demand in the United States.
As a result of this American supply shortage, Perpetua’s Stibnite gold-antimony project has received millions in backing from the U.S. Department of Defense.
One other mining company active in Idaho, NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50), is also developing an antimony asset worthy of note in Nevada. Alongside the Nutmeg Mountain gold asset in western Idaho, this junior is progressing the Limousine Butte Au-Sb operation across the border to the south.
Antimony ingots are currently trading for an average of US$53,500 per ton while high-purity antimony trioxide is even more valuable.
Since early 2024, the metallic element’s price has ascended by about 300 per cent. It has been propelled by Chinese export restrictions, declining ore grades globally, increasing industrial demand and other geopolitical factors like the civil war in Myanmar.
Read more: NevGold’s latest Nevada drill results show exceptional gold mineralization
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