Felix encouraged by further broad intercepts of gold and antimony at Treasure Creek
Remember Felix’s discovery of antimony at its Treasure Creek project in Alaska? Turns out there’s plenty more of the strategic critical mineral – along with gold – if the latest broad drill intercepts are anything to go by.
Assays from a further 17 holes at the project within the prolific and infrastructure-rich Fairbanks Gold Mining District returned standout antimony hits such 6.1m grading more than 5% antimony from a down-hole depth of 30.5m in hole 23TCRC155 and 1.5m at more than 5% antimony from 53.3m in hole 23TCRC153.
Not that there wasn’t plenty of gold – the main target of exploration at Treasure Creek – intersected by Felix Gold (ASX:FXG).
The antimony intercept in hole 23TCRC155 is contained within a thick, near-surface intercept of 54.9m at 1.8 grams per tonne (g/t) that also hosts two high grade zones of 4.6m at 5.09g/t gold from 9.1m and 4.6m at 7.1g/t gold from 19.8m, which incidentally contains another 3m intercept of antimony grading 1.46% from 21.3m.
Meanwhile, hole 23TCRC153 intersected a 53.3m zone at 1.08g/t gold from 30.5m including 10.7m at 2.55g/t gold from 44.2m.
While gold remains the prize at Treasure Creek – with results continuing to support the company’s plans to establish a low capex/opex open-pitable gold ore supply, the continued intersections of antimony means that it will likely be a valuable by-product due to its use in all manners of military applications.
It is also used in a new calcium-antimony battery developed by US company Ambri that has drawn funding from investors such as Microsoft co-founder Bill Gates and will see first utility deployment in 2024.
Managing director Anthony Reilly said it was encouraging to see the continuation of extensive zones of shallow gold mineralisation with significant widths and grades.
“Both the grade and the near surface nature of the mineralisation indicate a potential low cost open-pitable resource,” he noted.
“The potential for an antimony by-product continues to unfold as the higher-grade gold intersections continue to show an association with high grade stibnite including 6.1m at >5% Sb from 30.6m. Work is ongoing to understand the trend and structure of the stibnite.”
The recently completed drill program of 45 infill holes totalling 4,278m in the NW Array prospect and five target generation holes totalling 419m in the Scrafford extension area was designed to progress the company’s strategy of delineating a commercial resource at the Treasure Creek project to potentially supply ore to Kinross Gold’s Tier 1 Fort Knox mine.
Felix has to date received assays from 28 holes that have demonstrated the continuity of gold mineralisation and the presence of stibnite (antimony) at NW Array with the latest results establishing the NNE trend while extending this trend in width and length to the north.
Assay results are pending for 17 holes within NW Array and the five holes in the Scrafford extension area.
This article was developed in collaboration with Felix Gold, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.