Trigg Minerals aims to unlock Achilles potential with reworked resource off the back of surging antimony prices

Trigg Minerals to restate resource at new Achilles antimony project in NSW
Prices for the metal have risen 150% since the resource was announced in 2013
The company is also confident of further upside once it has drilled the project

Special Report: Trigg Minerals has moved to restate and expand the Wild Cattle Creek antimony resource at its recently acquired Achilles project in NSW with antimony prices a rollicking 150% higher since the resource was announced back in 2013.

As New South Wales’ second-largest antimony deposit, WCC contains 610,000t at 2.56% antimony, equating to 15,600t of contained antimony.

The company is confident there is room for significant resource expansion, particularly since a sporadically developed antimony and tungsten vein network, surrounded by disseminated antimony, is missing from a resource model – which features only the high-grade antimony core. That indicates the potential to add volume.

That high-grade core is super sensitive to fluctuations in antimony prices. The current resource is based on a 1% cutoff grade and an antimony price of around $10,000/t. At current prices of over US$25,000/t, more material could be included at a lower cutoff.

Not to mention, the deposit is also enriched in tungsten and gold, but the original MRE does not consider these metals which could enhance the resource estimate on re-statement.

Eyes on the upside potential

Once the acquisition is completed, the company will inherit a comprehensive drilling database from Anchor Resources (ASX:AHR), which it says will facilitate the resource re-statement.

“I am thrilled by the potential for significant early gains from our impending acquisition and the promising results from Anchor’s initial exploration efforts elsewhere on the property,” Trigg Minerals (ASX:TMG) executive chair Timothy Morrison said.

“The early indications of the Achilles project suggest a wealth of opportunity, and we are eager to unlock its full potential.

“It’s an exhilarating time for Trigg, and I look forward to sharing our progress as we explore and expand this exciting venture.”

Resource drilling on the cards

Achilles also contains several antimony prospects outside the Wild Cattle Creek resource, the most advanced being the Jezebel prospect, which recorded an ultra-high-grade intercept of 1.3m at 11.8% antimony.

Other prospects, like Fletchers Mine, feature stibnite-rich outcrops assaying up to 8.22% antimony, offering significant exploration upside and resource potential.

In addition, Trigg and Anchor have agreed to amend the acquisition agreement such that all consideration TMG Shares will be issued at completion of the acquisition, rather than in two tranches pending shareholder approval.

This means that, at completion, Trigg will issue $450,000 worth of TMG Shares at a deemed issue price based on the volume-weighted average price of Trigg’s shares over the 15 trading days prior to completion.

The company plans to commence drilling to further expand the WCC resource once access agreements have been successfully negotiated.

This article was developed in collaboration with Trigg Minerals, 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.