Resources Top 5: Felix at front of pack in race to supply domestic US antimony

• Felix delivers high-grade antimony from Treasure Creek in Alaska
• High-grade antimony, silver and gold in samples from RML’s Horse Heaven project
• CPN signs option agreement to earn 80% of Weethalle gold project in central NSW

Your standout small cap resources stocks for Monday, September 15, 2025

Felix Gold (ASX:FXG)

Felix Gold has moved to the front of the pack seeking to supply antimony to a US market becoming more desperate to shore up domestic supplies of the critical metal, including the US military. 

A new discovery of the critical metal at its Treasure Creek project in Alaska sees the company increase its pace on a fast track to production.

Exposing a 25m-long massive stibnite vein at surface along a structure that previously delivered a trench assay result of 3m at 50.26% antimony and 5.29g/t gold, has lended serious credibility to near-term production plans at the NW Array prospect. The vein also remains open along strike and at depth.

The first 28 holes from a 90-hole drill program into a new zone of distinctive ‘black breccia’ at NW Array have also given Felix Gold (ASX:FXG) plenty of reason for optimism and supported a 19.65% lift in the share price to a record 33.5c.

Results included up to 15.7m at 5.1% Sb from 37.6m in hole 25TCDC004, including 5m at 11.95% from 41.26m and a peak of 0.79m at 24.9% from 43.14m.

Other results include:

• 3.67m at 2.5% Sb from 35.74m; and
• 4.25m at 7.4% Sb from 26.17m.

Unearthing the stibnite vein and drill results come as the company sets a target of producing concentrate, studies and permitting pending, by Q4 2025 or Q1 2026.

Most primary antimony is mined at grades of less than 1%, placing the shallow discovery unveiled in the RC and diamond drill results from NW Array at the forefront of efforts to revive the West’s supply line.

They’re the latest winning intercepts from Treasure Creek, which has previously delivered nine of the top 10 intercepts by grade x width measure in the US, according to S&P Global and five of the top seven globally.

Importantly, gold assays are still on the way, with Felix placed to benefit from record prices of gold and antimony when it heads into production.

Resolution Minerals (ASX:RML)

Extremely high-grade antimony, silver and gold returned in samples from the Horse Heaven project demonstrate to Resolution Minerals (ASX:RML)  the prospectiveness of the Idaho property and have seen shares today lift up 25% to 6c.

Peak results from a surface rock chip and soil sampling program at the Antimony Ridge target include 49.8% antimony, 1420g/t silver and 3.12g/t gold in one grab sample and 10.35% Sb, 68.5g/t Ag and 4.43g/t Au in another.

Soil sampling also returned peak results of 0.5% Sb, 0.9g/t Au and 68g/t Ag.

The grab samples returned among the highest recorded antimony grades in North America.

Collectively, the results support historical sampling that delineated broad antimony-gold-silver mineralisation over significant widths at Antimony Ridge.

Importantly, the work has defined a 1000m by 700m zone of high-grade mineralisation that’s materially larger than previously estimated.

Prior trench rock chip results up to 5.9g/t Au, 19% Sb and 367g/t Ag are located centrally within this expanded northeast-southwest trending zone of antimony-silver-gold mineralisation.

This mineralisation is exposed at surface along 500m of historical trenching where production of high-grade antimony from small open pits was recorded during WWII and into the early 1950s.

Grades seen by RML are rare by any standard.

“Not all antimony is equal. High grades around 50% antimony are truly rare – and usually reflect crystalline antimony, potentially available for direct shipping ore as an oxide. This is because high-grade antimony requires limited processing – and is therefore sought after,” RML’s senior strategic advisor Steve Promnitz said.

The company is collecting representative samples of antimony from stibnite-silica vein exposures at Antimony Ridge for preliminary metallurgical testwork.

RML also plans further rock chip sampling, mapping and bulk sampling to help refine targets for a later planned drill program.

Additionally, a thorough analysis of the rock chip results for Antimony Ridge and Golden Gate is ongoing.

Caspin Resources (ASX:CPN)

On signing an option agreement to earn 80% of the Weethalle gold project in central NSW, Caspin Resources (ASX:CPN) improved up to 32.82% to a 12-month high of 8.5c.

Weethalle, which is 30km from CPN’s Bygoo tin project and comprises a large-scale intrusive related gold target, contains many historical gold workings from the 1930s with the most significant being the Euratha mine. 

Despite being a short distance from significant historical gold production at West Wyalong and very large gold endowment at the Cowal gold mine, the project has not received any meaningful exploration for decades, until recent soil sampling and IP surveying.

With historical mining reporting grades up to 5oz/t gold plus silver, rock chips up to 64.5g/t gold and a newly defined, undrilled, 2,000m-long IP geophysical target, CPN says the 310km2 project is a natural fit, complementing its expertise in intrusive mineralised systems, discovery-stage exploration and operational capability in the region.

Caspin is preparing to test the coincident IP and geochemical anomalies as soon as possible, with the first round of drilling to comprise a 1200m RC program.  

Kaili Resources (ASX:KLR)

The rollercoaster ride continues for Kaili Resources (ASX:KLR) and today the rare earths explorer lifted as much as 154.6% higher to 70c before easing back to finish around 36% up at 37.5c. 

KLR’s latest surge comes after completing an aircore drilling program at the Lameroo, Coodalya and Karte REE prospects on South Australia’s Limestone Coast.

The program of 54 holes up to 18m deep for a total of 973m was wound up at the weekend with 973 samples collected for pXRF scan in the next few days in a bid to identify the presence of REEs.

Samples presenting indicative high grades of mineralisation will be sent to ALS Laboratory in Adelaide for assay to confirm the grade of total rare earth oxides. Final assays are expected in mid-October 2025.

The three tenements are about 200km from Adelaide, are accessible by highway and overlay the Loxton/Parilla Sands of the region. 

Australian Rare Earths (ASX:AR3) has had exploration success on its tenements in the same region with an estimated JORC 2012 resource of 236Mt at 748 ppm TREO.

Genesis Resources (ASX:GES)

While fieldwork continues at the Plavica copper-gold-silver project in North Macedonia, Genesis Resources (ASX:GES) is preparing for drilling at its copper-gold projects in the Northern Territory.

After ground clearance is obtained from the Central Lands Council, the company plans to drill the Alice Springs and Arltunga tenements in the NT early this quarter.

Drilling in 2023 at the former returned up to 5m at 1.02% Cu and 0.26 g/t Au and rock chip sampling returned up to 40% Cu, 2.8ppm Au and 68% Fe. A number of airborne EM anomalies remain untested by drilling.

At Arltunga, which consists of a number of high-grade gold veins, previous drilling returned 6m at 3.03 g/t Au from 30m and rock chip samples of up to 2.8oz/tonne or 88 g/t) Au.

In North Macedonia, the company is collecting data for the completion of Environmental Studies for the Mining Application approval for Plavica.

This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Felix Gold, Resolution Minerals and Caspin Resources, are Stockhead advertisers, they did not sponsor this article.