Antimony Resources reports ‘massive’ success with its current drill program

The junior critical mineral miner intercepted over 20 metres of stibnite-antimony mineralization in one of newest holes

Rowan Dunne

Published

2 days ago

Antimony Resources Corp (CNSX: ATMY) (FRA: K8J0) appears to have accomplished what it set out to do over a month ago when it started a drill campaign targeting a high-dollar mineral in New Brunswick.

On Thursday, the junior mining company reported intercepting “massive” quantities of antimony-bearing (Sb) stibnite mineralization and discovered surface outcrops covering a considerable amount of ground.

One of the drill holes, BH-25-05, intercepted over 20 metres of stibnite-rich breccia rock.

“I visited the area of surface exposures and saw massive boulders and outcroppings of stibnite [spanning over 300 metres]” chief executive Jim Atkinson said. He explained that discovering the outcrops will enable higher precision targeting during the remaining 900 metres of the ongoing 2,500-metre campaign.

The company’s aim is to produce a maiden mineral resource estimate for the Bald Hill property where the new discoveries were made by the end of the year. Globex Mining Enterprise Inc (TSE: GMX) (OTCMKTS: GLBXF) gave Antimony Resources the option to acquire a 100 per cent interest in this property in January by coughing up C$2 million for it over a 4-year period.

The highest-grade historical core assay from the site consisted of 11.7 per cent Sb over 4.5 metres, including 2.29 metres with 20.9 per cent antimony.

Core samples from Hole BH-25-05

Global antimony market to exhibit steady growth

A newly released report from the British-Indian market researcher Exactitude Consultancy has forecasted 5.2 per cent compound annual expansion in the sector for the next nine years. The global Sb industry is currently valued at just over US$2.5 billion and will ascend to a valuation of US$4.1 billion by 2034, the firm expects.

The report says that the growth will be primarily driven by an increasing rate of demand for flame retardants, electronic sensors and batteries.

The Chinese are a dominant force in the supply chain, Exactitude has highlighted.

“China, in particular, holds a commanding position as the world’s largest producer, accounting for more than 70 per cent of global output.”

This monopoly has become a major concern for the Americans since December when China cut off its exports to the United States.

United States Antimony Corp (NYSEAMERICAN: UAMY), one of the key players mentioned in Exactitude’s May report, is currently completing a 500 per cent expansion of its Sb smelter — the only one in the U.S. The aim is to boost domestic production of antimony products to help fill the void created by the Chinese-American trade war.

“By scaling up production, USAC is positioning itself as a key domestic supplier for industries such as defence, automotive, and electronics,” Exactitude said. The amount of antimony ore produced in the U.S. is minimal, but the expanded smelter will help the Americans refine more products themselves from foreign materials.

Campine NV (EBR: CAMB) and Mandalay Resources Corp (TSE: MND) (OTCMKTS: MNDJF) are other key market players mentioned in the report.

Aside from Antimony Resources, junior mining companies like NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) and Felix Gold Ltd (ASX: FXG) (OTCMKTS: FXGDF) have also been reporting success with their drill and sampling programs. Felix pulled a grab sample with 65.4 per cent Sb at its Alaskan project in February.