Antimony Resources Eyes Resource Estimate as Permitting Advances

Antimony Resources accelerates its Bald Hill project with drilling and permitting. A key resource estimate is due soon as demand from solar drives a critical mineral supply deficit.

The race to develop new sources of the critical mineral antimony is intensifying, and Antimony Resources is moving its flagship Bald Hill project in New Brunswick through two crucial phases simultaneously. With a key drilling campaign nearing completion and formal permitting now underway, the company is transitioning from pure exploration toward defined development.

Antimony’s strategic importance is underscored by a market facing a structural supply deficit since 2022, driven in part by soaring demand from the solar industry. Photovoltaic sector consumption in 2024 was approximately 330 percent higher than just four years prior. While the spot price has retreated slightly this year, it remains robust at $51.80 per kilogram, representing a staggering 171 percent increase since the start of 2024. Trade policy adds another layer of complexity; China’s Ministry of Commerce recently suspended its export bans on critical minerals to the United States, a measure set to last until the end of November 2026, leaving markets to speculate on a potential lasting truce.

Against this favorable macro backdrop, Antimony Resources is building tangible project value. The current definition drilling program at the Bald Hill Main Zone is approaching its conclusion, with 6,500 meters of a planned 10,000-meter campaign already completed. Two rigs are currently working to expand the zone east and west, with full completion targeted for the end of April. These efforts are not isolated; exploration at the Marcus West Zone has successfully exposed massive stibnite mineralization in bedrock through trenching, indicating potential beyond the main area.

All this drilling feeds into a seminal milestone: the company’s first NI 43-101-compliant resource estimate. SRK Consulting of Toronto is preparing the report, which will be based on data from over 13,800 meters of cumulative drilling. Final assay results will be incorporated directly, with management aiming for a formal filing by late April or early May. A prior technical report has outlined a conceptual target of roughly 2.7 million tonnes of rock, with an estimated antimony grade between three and four percent, showcasing a mineralization that extends to depth and along strike.

Parallel to this technical work, the formal permitting process has been initiated. Since early April 2026, engineering firm GEMTEC has been developing a comprehensive roadmap to guide the project through regulatory requirements. Initial discussions with the New Brunswick provincial government have commenced, and foundational environmental studies are set to begin this spring. CEO Jim Atkinson emphasizes early engagement with local authorities and First Nations, a strategy intended to streamline the approval timeline. The company is also determining whether a separate federal environmental assessment will be necessary.

Financially, the company is fully funded for its 2026 exploration and development plans, mitigating near-term dilution risk. The equity story has garnered analyst support; investment bank GBC AG recently issued a buy recommendation with a price target of C$3.00. From its last close of C$1.33, this implies significant upside potential. The stock, however, has faced recent pressure, closing at C$1.25 on Friday, down nearly four percent and well off its all-time high of C$1.65 set in mid-March 2026. Immediate technical resistance is seen at Friday’s high of C$1.35.

The coming weeks are pivotal. The publication of a convincing maiden resource estimate, coupled with steady progress on the permitting front, is expected to reignite valuation discussions for the Bald Hill project, positioning Antimony Resources in a tightening market desperate for new, non-Chinese supply.