Antimony Resources Nears Pivotal Moment as Bald Hill Shifts From Discovery to Definition

Antimony Resources advances Bald Hill with SRK-led resource estimate, 19,000m drill campaign, and new zone discoveries, targeting a pivotal valuation catalyst.

The transition from explorer to developer rarely follows a straight line, but Antimony Resources is approaching a clear inflection point at its Bald Hill project in New Brunswick. What began as a string of high-grade intercepts is now being translated into something more tangible: a formal resource estimate that could fundamentally alter how the market values the asset.

SRK Consultants has been brought in to produce the first independent resource calculation under NI 43-101 standards. For a junior miner, that assignment marks a departure from the speculative phase. Drill results, geological models and tonnage potential are being fitted into a recognised technical framework that investors can compare across projects. The catalyst for this step was a series of compelling assays — a 7.05-metre intersection grading 4.38 percent antimony reported in April, following an earlier 3.0-metre hit at 8.48 percent.

A Canadian technical report from November 2025 had already flagged 2.71 million tonnes of material averaging 3 to 4 percent antimony as a conceptual target. That figure is not yet a confirmed resource, but it sets the benchmark against which the SRK estimate will be measured.

Drilling programme scales up

The company is preparing to launch its largest-ever drilling campaign in the second week of May. The 19,000-metre programme is split into two distinct workstreams. Some 13,000 metres will target depth and strike extensions of the Main Zone, which has already been delineated through more than 25,000 metres of drilling across 77 holes since April 2025. That zone now extends over 600 metres along strike and reaches 350 metres down-dip, with typical widths of four to five metres grading around 3 to 4 percent antimony.

The remaining 6,000 metres are earmarked for three newly identified mineralised zones — Marcus, BH Central and BH South — all situated close to the Main Zone. The Marcus West zone, discovered only this year, is receiving particular attention. The drilling will test lateral extensions, and the results will determine whether Bald Hill hosts a coherent larger structure or remains a series of isolated high-grade pockets. That distinction is critical: it separates a successful exploration story from a genuine project build.

Assay results and resource timeline

More than 1,500 core samples from the most recent definition programme have already been dispatched to the assay laboratory, with first results expected in May. These data points will feed directly into the SRK resource calculation, which stands as the single most important catalyst for the stock this year. Until that report is published, the project valuation rests on expectations rather than measured reserves.

A secondary exploration target has also emerged. Soil sampling on the recently acquired Second Run claims, roughly three kilometres south of Bald Hill, has identified three areas with elevated antimony values. One of these anomalies remains open and requires further sampling.

Strategic metal, volatile price

The commodity backdrop provides a supportive tailwind. Antimony is currently trading at $51.80 per kilogram, down roughly 36 percent from the June 2025 peak but still more than 170 percent above early 2024 levels. Chinese export restrictions, rising defence spending and limited refining capacity outside China continue to underpin prices structurally. Although Beijing temporarily suspended export curbs on the US until November 2026, whether that signals a lasting détente remains uncertain.

The stock closed at C$1.45, having retreated from an all-time high of C$1.65 in mid-March 2026. That still represents a gain of over 1,000 percent in the past twelve months.

Cash position and next steps

The company strengthened its balance sheet ahead of the current work programme. A C$10 million financing was completed in November 2025, followed by roughly C$1.21 million from exercised warrants in February 2026. That provides sufficient runway for drilling, technical work and external consultancy fees — a critical buffer for any junior defining its first resource.

Since November 18, 2025, the shares have also traded on the OTCQB Venture Market, supplementing the primary listing on the Canadian Securities Exchange. The additional platform should improve visibility among US investors.

Permitting documents for the project are expected to be submitted by late 2026 or early 2027. Discussions with metal marketers about potential offtake agreements are also planned. For now, however, all attention is fixed on the drill rigs starting up in May and the assays that will follow. If the Marcus West zone delivers lateral continuity and enough data points for the SRK resource, Bald Hill will acquire a much clearer technical profile. If continuity proves weaker, the valuation will remain tied to individual intercepts rather than a measured deposit.