Antimony Resources Braces for Make-or-Break Resource Estimate as Bald Hill Drilling Wraps Up

Antimony Resources nears pivotal NI-43-101 resource estimate at Bald Hill, with 25,000m drilling complete and assays due within weeks amid tight antimony markets.

The drill rigs have fallen silent at Antimony Resources' Bald Hill project in New Brunswick, and the clock is now ticking on what could be the junior miner's most consequential moment to date. With 25,000 metres of cumulative drilling data now in the can, the company is awaiting its first-ever official mineral resource estimate under NI-43-101 standards — a number that will either validate or undermine the market's current enthusiasm.

The final phase of the current program, which wrapped up on April 28, added 12,500 metres of drilling at roughly 50-metre spacing — the density required for a formal resource calculation. All samples have been dispatched to Activation Laboratories in Stoney Creek, Ontario, with assay results expected within three to four weeks. SRK Consultants of Toronto has been tapped to crunch the numbers, with the resource estimate itself slated for late April or early May 2026.

A previous technical report floated a conceptual target of approximately 2.7 million tonnes grading between 3% and 4% antimony, though the company has been careful to stress that figure does not yet constitute a confirmed resource. If the upcoming estimate matches or exceeds that internal target, Bald Hill would finally have a concrete valuation benchmark — and the stock would face its first real stress test.

Permitting Progress Runs in Parallel

While geologists wait for lab results, the company has been laying the groundwork for what comes next. Since April 6, GEMTEC Consulting Engineers and Scientists of Fredericton has been developing a permitting roadmap, starting with a preliminary environmental assessment scoping study. Provincial and potentially federal regulators have already been looped in, and Antimony Resources has also reached out to the Ministry of Indigenous Affairs to identify affected communities early in the process.

The breather between drill campaigns will be short. Come mid-May, the company plans to mobilise for another 11,000-metre program targeting zones outside the main Bald Hill deposit — specifically the Marcus, Central and South zones. The BH Central Zone, located roughly 150 metres south of the main zone, has already returned 2.8% antimony over 8.1 metres from trench sampling, suggesting the satellite targets could add meaningful tonnage.

Market Dynamics Favour the Bulls

The broader antimony market remains structurally tight. Spot prices currently sit at around $51.80 per kilogram — 36% below the July 2025 record but still a staggering 171% above early 2024 levels. China has suspended its antimony export ban to the US until November 27, 2026, but Beijing retains the ability to reimpose restrictions at any moment, keeping supply-chain anxiety alive.

Both the US and the EU have classified antimony as a critical mineral. Demand drivers span flame retardants, renewable energy infrastructure and data centres — sectors with limited substitution options. That geopolitical tailwind has not been lost on investors.

Stock Takes a Breather After Rally

Antimony Resources shares hit an all-time high of C$1.65 in March but have since pulled back to around C$1.20. GBC AG initiated coverage in April 2026 with a Buy rating and a C$3.00 price target, highlighting New Brunswick's mining-friendly regulatory environment as a key advantage.

The upcoming resource estimate will be the first hard data point against which that valuation can be measured. For a stock that has already priced in considerable optimism, the margin for disappointment is razor-thin.