Red Mountain Mining Ltd (FRA: RM0) (ASX: RMX) is now working side-by-side with another Australian company to get American antimony out of the ground.
The junior just obtained a cohort of claims in Utah next to the Antimony Canyon Project under development by Trigg Minerals Ltd (OTCMKTS: TMGLF) (ASX: TMG). A recent estimate determined that Trigg’s site held 100 to 200 kilo tonnes of antimony (Sb) metal. Red Mountain is optimistic that its neighbouring “Utah Antimony Project” could have similar production potential.
These two sites happen to reside a short distance from a small town by the name of Antimony. Exploration drilling, sampling and the like will be commencing at Red Mountain’s in the immediate future.
Utah has emerged as one of the key American states for development of Sb resources as the Trump Administration and U.S. military agencies scramble to procure domestic sources. As highlighted by Red Mountain Managing Director, Lincoln Liu, Trigg’s project is one of the most promising in the country.
Nonetheless, it has not received the amount of attention that Idaho’s Stibnite gold-antimony project has. Perpetua Resources Corp (TSE: PPTA) (NASDAQ: PPTA) has received millions in federal backing because of the site’s proven resources and a national supply shortage.
Aside from Idaho and Utah, Alaska has become a key target to help curb national security fears brought about by Chinese restrictions on the world’s number one supply of the element. The Estelle project being advanced by Nova Minerals Ltd (ASX: NVA) (OTCMKTS: NVAAF) (FRA: QM3) is thought to be the most prolific in the state. Rock chip samples have yielded up to 60.5 per cent Sb — an exceptional quantity.
Nova is currently working on producing an initial gold-antimony (Au-Sb) mineral resource estimate. Its results will have a significant impact on the company’s trading volume and stock price.
Read more: GoldMining chooses to retain its NevGold shares for next 18 months
Nevada’s antimony potential is vast
Nevada may not have the proven resource that Stibnite has, estimated to be capable of fulfilling up to one third of U.S. demand, but it is unarguably one of the world’s best jurisdictions for mining anything.
The state is most renowned for precious metals, but a select few operators have been honing their focus on antimony mining as well.
NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) is currently putting an inaugural MRE together for the Limousine Butte Au-Sb project in White Pine County. A drill campaign is progressing there at the moment that will inform the numbers therein.
NevGold’s top shareholder, GoldMining Inc (TSE: GOLD) (NYSEAMERICAN: GLDG) (FRA: BSR), entered a standstill agreement with NevGold last month. The Toronto Stock Exchange-listed company’s move signalled its confidence in NevGold’s ongoing progress.
Global Tactical Metals Corp (CNSX: MONI) (FRA: A7F) and Xtra Energy Ord Shs (OTCMKTS: XTPT) have also been actively pursuing Nevada’s antimony resources in recent months. In August, Xtra Energy revealed that is has discovered a highly intriguing antimony anomaly on its state property.
“This combination of scale, grade, and metallurgy is rare in antimony systems,” said chief executive Mac J. Shahsavar.
Antimony is a critical component in a wide range of products ranging from military technologies, explosives and metal alloys to flame retardants and solar cells.
Read more: Antimony recovery results from NevGold’s Limo Butte project exceed expectations
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