Antimony is a critical mineral due to its use in defence and semiconductor applications. Pic: Getty Images.
Felix Gold eyes near-term Alaskan antimony production
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- FXG to begin trenching this month over high-grade antimony prospects at Treasure Creek gold project
- China recently announced antimony export restrictions
- Company investigating viability of near-term, stand-alone, high-grade and low-capex production, in collaboration with relevant U.S. government agencies.
Special Report: Felix Gold is gearing up to begin trenching over its promising antimony prospects and historical workings at its Treasure Creek gold project in Alaska, USA.
Antimony was sprung into the spotlight last month with China announcing it would restrict exports of the commodity, of which it has an upstream monopoly – controlling about 50% of global production and about 80% of global processing.
Commonly found within certain types of gold deposits, antimony is increasingly used in high-tech applications such as lithium-ion batteries, solar panels and wind turbines.
Felix Gold (ASX:FXG) says the trenching will target high-grade antimony mineralisation – complementing the ongoing gold exploration efforts at the project.
Set to begin in September, this initiative aims to enhance understanding of the outcropping antimony mineralisation prior to drilling and builds upon the recent exceptional high-grade antimony assay results, including 3.0m @ 14.24% Sb from 7.62m and 2023 drilling results including 15.2m @5.5% Sb from 21.3m.
The work will include bulk sampling for metallurgical test work, which will help inform the viability of near-term, stand-alone, high-grade and low-capex antimony production.
Trenching to guide future drilling
The areas to be included in the trenching include the historic Scrafford antimony mine, the NW Array gold resource – where 2022 and 2023 drilling returned up to 26.1% antimony – and Antimony Ridge/Old No.2.
Reconnaissance mapping will also be conducted over the Redline Area (up to 4.4% antimony) and the Goodwin mine (up to 16% antimony)
The company believes the widespread mineralisation at the project highlights the extensive potential for multiple high-grade feeder zones to support near-term production initiatives.
“Our trenching work will focus on key areas including the historic Scrafford Antimony Mine, NW Array, and Antimony Ridge, where previous exploration has yielded samples up to 6.54% Sb,” FXG executive director Joe Webb said.
“We’ll also be conducting reconnaissance mapping in the Redline Area, where rock samples have assayed up to 4.4% Sb, and at the Goodwin Mine, which has historically shown grades as high as 16% Sb over 1.5m in previous drilling.
“This program aims to provide crucial insights into the outcropping antimony mineralisation, guide future drilling, and allow for bulk sampling for metallurgical test work.
“It aligns perfectly with our dual focus on developing our gold resources while exploring the significant potential for high-grade antimony production.”
Near-term antimony production potential
Unlike lower-grade antimony often associated with larger gold systems, the high-grade antimony at Treasure Creek—exemplified by the Scrafford antimony mine, with historical production grades up to 58% Sb—presents a unique opportunity for near-term production.
The historical use of simple gravity separation at Scrafford also aligns well with the company’s goal of low-capex production.
It could also significantly reduce technical risks and capital expenditure associated with more complex processing techniques.
The antimony strategy is an added shareholder value creation pathway to complement the company’s existing 831,000oz inferred gold resource plans.
“The exceptional grades we’ve encountered in recent drilling, such as 15.2m at 5.5% Sb including 6.1m at 13% Sb at NW Array, and historical production grades up to 58% Sb from the Scrafford Mine, underscore the significant potential of this project,” Webb said.
“The historical success of simple gravity separation methods at Scrafford adds another layer of potential to our project.
“It suggests we may be able to implement a cost-effective processing solution, using gravity and flotation, further enhancing our prospects for near-term, low-capex antimony production.”
A strategic critical mineral
The U.S. Government is actively seeking to ramp up domestic antimony production, with the mineral of vital strategic importance due to its roles in defence (military equipment and ammunition), flame retardants, battery energy storage, semiconductors and fibre optics as well as medical devices.
The U.S. relies heavily on imports, primarily from China, which controls the majority of the market and has recently announced restrictions on antimony exports.
This vulnerability has drawn attention at the highest levels of the U.S. government. As Sen. Joni Ernst emphasized: “America’s defence in the modern era increasingly demands the use of critical minerals, making it more essential by the day for our nation to have a sufficient stockpile of and reliable access to these materials.”
Recognising this urgency, the US Senate National Defense Authorization Act includes $1 billion in funding to support the Defense Logistics Agency’s acquisition of critical defence materials, including antimony, for the National Defense Stockpile.
“As we progress, we remain committed to maximizing shareholder value by leveraging the strategic importance of antimony in the US market,” Webb said.
“The results from this trenching program will be instrumental in shaping our path forward, potentially leading to a low-capex, near-term antimony production scenario that complements our established gold exploration efforts and our growing 831,000oz Inferred gold resource.”
FXG will hold an investor briefing on Monday 9 September at 11am AWST/1pm AEST. Participants can register here.
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.
