Antimony Resources Faces a Geopolitical Clock as Bald Hill Moves Toward First Resource Estimate

Canadian explorer completes 25,000m drilling at Bald Hill, targeting first NI 43-101 resource estimate in May to position as North American antimony source before China export controls expire.

The countdown to November 2026 is ticking for Antimony Resources, and the Canadian explorer is racing to turn its Bald Hill project in New Brunswick into a credible alternative to Chinese supply. With Beijing's temporary suspension of export controls on strategic metals set to expire on 27 November 2026, the company is betting that its just-completed drilling campaign will deliver the numbers needed to position itself as a North American solution to a looming supply crunch.

The final meters of drilling fell on 28 April, capping a program that has now generated 25,000 metres of data across the main zone. The latest campaign alone contributed 12,500 metres, with geologists working a tight grid of roughly 50-metre spacing — the density required for a formal resource estimate under the Canadian NI 43-101 standard. SRK Consultants, the Toronto-based firm tapped to crunch the numbers, is currently processing the results, with the first official resource statement expected in May.

Early indications are promising. Internal models have been targeting roughly 2.7 million tonnes of ore with an antimony grade between three and four percent. A deep hole drilled in the northern portion of the main zone returned 4.38 percent antimony over roughly seven metres, with mineralization remaining open in multiple directions — a sign that the deposit could have room to grow. A previous campaign had already delivered a taste of the potential, with one hole showing nearly ten percent antimony over three metres.

The Bald Hill deposit itself stretches more than 700 metres along strike and extends to depths of 350 metres. While the conceptual target volume is not yet a confirmed resource, the density of the current data set should allow SRK to produce a credible first estimate.

Permitting Work Begins in Parallel

While the lab in Ontario processes the final samples, Antimony Resources is already laying the groundwork for the regulatory path ahead. GEMTEC, an environmental consulting firm, has been engaged to develop a roadmap for project permitting, starting with a preliminary environmental assessment. Field studies for baseline environmental data are set to begin this spring.

CEO Jim Atkinson has taken a proactive approach, initiating early discussions with the provincial government of New Brunswick and engaging with First Nations and the Ministry of Indigenous Affairs. The strategy is deliberate: early contact with regulators and local stakeholders can compress the permitting timeline later on. Whether a federal environmental review will also be required is still under discussion with authorities.

The company's balance sheet can support the push. A capital raise in December brought in roughly C$9 million, providing the financial runway for both the drilling program and the early-stage permitting work.

A Market Under Pressure

The strategic backdrop gives the Bald Hill project an urgency that goes beyond typical junior mining economics. The United States has not produced its own antimony since 2001 and still relies on China for 63 percent of its supply. That dependence has created wild price swings. At one point, antimony traded as high as $60,000 per tonne. China's temporary relaxation of export controls has since pulled the price back to around $34,800 per tonne — still well above historical averages.

The clock is now the dominant factor. The grace period ends on 27 November 2026, and with it the threat of renewed supply constraints. Both the US and the European Union classify antimony as a critical mineral, with demand from the defense and electronics sectors colliding against tight global reserves and fragile supply chains.

For Antimony Resources, the May resource estimate is the next catalyst. If SRK delivers the tonnages the company's internal models have been pointing to, Bald Hill could emerge as a credible North American source just as the geopolitical window begins to close. The dual-track approach — advancing resource definition and permitting simultaneously — is designed to compress the timeline to a potential construction decision. GEMTEC will follow the resource estimate with a detailed schedule and budget for the remaining regulatory steps.