Military Metals Corp (CNSX: MILI) (OTCMKTS: MILIF) (FRA: QN90) has completed a critical minerals field program at its wholly-owned Last Chance antimony-gold property in south central Nevada.
Announced on Thursday, the property sits just 18 kilometers west of Kinross Gold‘s (TSE: K) (NYSE: KGC) Round Mountain mine, placing it in a highly active mining district.
The program aimed to map geological structures, both known and potential, and 49 outcrops across the property were analyzed. This is the first modern exploration at Last Chance, a historical antimony producer.
The property has a rich production history. Miners reportedly shipped approximately 400 tons of material averaging 20 per cent antimony during World War I. In 1939, they exported 29 tons at 45 per cent antimony. Over 200 tons were mined and shipped during 1941–42, and the final recorded production in 1958 totaled 44 tons grading between 10 and 15 per cent antimony.
Historical infrastructure remains on site, including a 180-foot shaft, three adits, several open pits, dumps, and the ruins of a mill. Aside from limited gold-focused exploration in the 1980s, the property saw no significant activity until Military Metals acquired it.
Miners originally discovered Last Chance in the late 1800s and developed it primarily for antimony, with intermittent small-scale production continuing until the 1950s.
Antimony mineralization at Last Chance is controlled by both structural and stratigraphic features. Structural geologist Dr. John Federowich, PhD, led the field program and provided new insights into the property’s complex setting.
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Government has ramped up critical minerals projects
Previous samples taken by the company indicate stibnite concentrations ranging from 0.005 per cent to 11.61 per cent. Quartz-carbonate veins and flooded metasedimentary host rocks at multiple locations over a one-kilometer span contained 6.66 per cent and 11.61 per cent stibnite. In addition, the recent field program identified additional stibnite-rich quartz veins, enhancing potential drill targets.
Dr. Federowich’s report included several recommendations for follow-up work.
The team recommends conducting detailed structural mapping in zones with intense iron carbonate alteration and quartz-carbonate breccia veining. Furthermore, they advise focusing on the margins of these altered zones. Although historical mining disturbed parts of the surface, they also recommend performing a soil survey. The report compares reverse circulation and diamond drilling, noting that underground workings could complicate diamond drilling. The company is currently evaluating these recommendations for future exploration.
“We are excited to report on the independent work of a professional structural geologist, which has helped us identify high-priority drill targets,” said Scott Eldridge, CEO and director.
“Last Chance is a historical producer in a top mining jurisdiction, where modern exploration methods were never applied. We look forward to refining these drill targets with the goal of making a new discovery.”
Eldridge spoke about antimony’s strategic importance, noting that the U.S. government has ramped up funding for critical minerals projects, including antimony. This effort aims to secure domestic supply chains and cut reliance on foreign sources, particularly China.
Military Metals’ field program demonstrates how modern techniques can uncover previously overlooked opportunities. By combining historical knowledge with GPS-controlled structural mapping, the company has positioned Last Chance for a new phase of exploration.
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Multiple companies helping find the solution
Companies and goverments use antimony in flame retardants, batteries, semiconductors, and defense applications. Its unique properties make it essential for modern technology and national security. Consequently, secure access to antimony supplies has become a strategic priority for many countries, including the United States.
China currently controls roughly 80 per cent of global antimony production and processing, creating a significant supply risk. This dominance gives China substantial leverage over prices and availability, which could impact defense, energy, and technology industries. Furthermore, geopolitical tensions have increased concerns about reliance on foreign sources.
In response, the United States has ramped up funding and incentives for domestic critical mineral exploration, including antimony. The government also supports research, development, and infrastructure to reduce dependence on imports. Additionally, policies aim to fast-track permitting for projects that can supply antimony locally.
Companies like NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) are stepping into this space to help address the supply challenge. NevGold and other explorers are advancing projects in mining-friendly jurisdictions with significant antimony potential. By applying modern exploration methods, these companies aim to discover new deposits and bring them into production. Furthermore, such efforts support U.S. strategic objectives and create opportunities for investors seeking exposure to critical minerals.
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