• New assays show up to 15.99% antimony (Sb)
  • Historical Scrafford Antimony Mine within Treasure Creek had production grades of up to 58% Sb
  • Felix to assess standalone, high-grade antimony production

 

Special Report: Felix Gold is assessing the potential to become a standalone antimony producer after uncovering astonishing grades at its Treasure Creek gold project in Alaska.

Felix Gold’s (ASX:FXG) Treasure Creek is within the world-class Fairbanks gold district, where historical gold production exceeds 16Moz and where historical antimony production at the Scrafford mine on Felix’s tenure had grades of up to 58% Sb.

Retested assays from 2022 and 2023 drilling, previously only targeted for gold, have shone a light on the extraordinary antimony endowment likely to be delineated at the project.

2022 results include:

  • 3.0m at 14.24% Sb from 7.62m in 22TCRC071
  • 1.5m at 15.99% Sb from 86.87m in 22TCRC041; and
  • 5m at 3.3% Sb from 141.7m including 1.5m at 7.43% Sb 22TCRC122

2023 results include:

  • 15.2m at 5.5% Sb from 21.3m including 6.1m at 13% Sb in 23TCRC155
  • 1.5m at 26.1% Sb from 38.1m in 23TCRC135; and,
  • 6.1m at 7.7% Sb from 3m including 1.5m at 28% Sb 23TCRC176

Treasure Creek contains a 30.8Mt inferred resource for 831,000oz gold, encompassing its NW Array and Grant Mine deposits.

Felix Gold has a significant tenure position within striking distance of Kinross Gold’s Tier 1 Fort Knox gold mine and the rapidly growing Freegold Ventures discovery, Golden Summit.

But antimony could help fast-track the project to early production after prices doubled in the wake of the announcement of Chinese export restrictions on the commodity.

Used in tech but also defence applications like night vision goggles and armour piercing bullets, Felix thinks it could collaborate with relevant US Government agencies to support supply security of the critical metal.

Felix shares doubled this morning to trade at 10c.

 

Scrafford Antimony Mine within Treasure Creek. Pic: FXG

 

Treasure Creek’s historical Scrafford

The explorer’s Treasure Creek tenure encompasses the historical Scrafford antimony mine, which once achieved production grades of up to a whopping 58% Sb when it was in action up to 1977.

Treasure Creek hosts a large-scale gold-antimony system with high-grade antimony mineralisation identified in multiple locations, including:

  • The historic Scrafford Antimony Mine and Goodwin Antimony Mine
  • The 8 km Scrafford Shear structural corridor including East Scrafford
  • Eastgate, Redline and Redline West Prospects
  • Veins 2, Veins 4, and NW Array

This widespread mineralisation highlights the extensive potential for multiple high-grade feeder zones to support near-term high-grade production initiatives.

 

Golden antimony opportunity

The high-grade nature of the deposit, FXG says, reduces the complexity and cost of processing, contributing to a potentially low-cost operation and the presence of easily accessible high-grade ore near the surface further supports the possibility of rapid production.

“The historical success of using a straightforward gravity separation method at Scrafford, even with older tailings, suggests that a relatively simple and cost-effective processing plant could be implemented for future operations,” the company says.

“This minimises capital expenditure and technical risks associated with more complex processing techniques.”

Executive director Joe Webb said Treasure Creek set itself apart from other gold and antimony systems with its historic grade profile.

“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 – it presents a unique opportunity for stand-alone antimony production,” Webb said.

“Antimony has been a key component of Felix Gold’s strategy from the outset, as highlighted in the independent expert reports included in the prospectus and reinforced in specific announcements throughout 2022-23.”

Webb noted the company was no johnny come lately to the antimony race.

“Earlier this year, Felix Gold outlined plans for a dedicated Antimony strategy for near-term antimony production opportunities. Recent market developments have now brought this opportunity to light, underscoring its strategic importance,” he said.

“Treasure Creek constitutes a large-scale gold-antimony system characterized by the identification of high-grade antimony mineralization in numerous locations. The presence of high-grade antimony has been verified at various prospects throughout Treasure Creek, including two previously operational antimony mines, namely the Scrafford Antimony Mine and the Goodwin Antimony Mine.

“Our focus is on advancing this potential rapidly, leveraging the strategic location of our assets in the U.S., where significant government support is available to secure supply chains for critical metals like antimony, which has strategic importance for US national security.

“With widespread high-grade antimony across the Treasure Creek Project area which is surrounded by infrastructure and includes one of Alaska’s largest historic antimony mines, Felix Gold is well-positioned to contribute meaningfully to the U.S.’s critical metal needs while also advancing our gold exploration efforts.”

 

 

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.