Antimony Resources Nears Pivotal Resource Estimate as Expansion Drilling Looms

Antimony Resources expects first NI 43-101 resource for Bald Hill in weeks, with high-grade results and a fully funded 11,000-metre expansion drilling campaign underway.

Antimony Resources is closing in on a defining moment for its Bald Hill project in New Brunswick, with the first certified mineral resource estimate expected within weeks. The company wrapped up its 12,500-metre definition drilling campaign on April 28, tightening the drill pattern to the required 50-metre spacing across the Main Zone. A laboratory in Ontario is now processing the final rock samples, with results due in three to four weeks.

The resource calculation, to be conducted under the Canadian NI 43-101 standard by SRK Consultants, will transform what has been a conceptual target into a quantified asset. A previous technical report outlined roughly 2.7 million tonnes of rock grading between 3% and 4% antimony, but those figures remain unconfirmed. SRK brings direct experience to the task, having recently calculated resources for the former Beaverbrook antimony mine in Newfoundland.

One of the standout holes from the completed program, BH-25-34, intersected 4.38% antimony over 7.05 metres, including a high-grade interval of 9.76% antimony over 3.15 metres. These results have been fed into an updated 3D mineralisation model that shows the Main Zone extending 600 metres along strike and reaching depths beyond 400 metres, with average widths of four to five metres. The model also indicates the zone remains open in all directions.

Expansion Drilling and New Targets

Rather than pausing to wait for the resource estimate, the company is pressing ahead with a fully funded 11,000-metre drilling campaign scheduled to begin in mid-May. This next phase will target areas beyond the known deposit, including the newly identified Marcus Zone as well as the Central and South Zones. Historical data and recent surface trenching at these locations have returned antimony grades of 2.8% over more than eight metres.

The summer exploration program extends further, encompassing prospecting and trenching on a dozen recently acquired claim blocks to the west and south of the existing project area. These claims were staked to cover interpreted extensions of fault zones that could host additional mineralisation.

Regulatory Progress and Market Tailwinds

Antimony Resources is also advancing the permitting process. Since early April, consulting firm GEMTEC has been developing a roadmap for environmental and mining approvals, and initial discussions with the provincial government of New Brunswick have already taken place.

The commodity price backdrop provides additional support. Antimony currently trades at US$51,800 per tonne, down from last summer's record high but still 172% higher than at the start of 2024. With production heavily concentrated in China and Russia, and demand rising from the defence and technology sectors, both the US and EU classify antimony as a critical raw material.

Financial Position and Valuation

The company's treasury received a boost from warrant exercises in February, which brought in more than C$1.2 million to fund ongoing exploration. On the Canadian Securities Exchange, shares last closed at C$1.00, while the Tradegate listing in Germany ended April at €0.660, up 4.43% on the day. Over the past twelve months, the stock has surged more than 1,000%, closing recently at C$1.45.

Analyst firm GBC AG initiated coverage in April with a buy rating and a price target of C$3.00. SRK Consultants is expected to deliver the final resource estimate by the end of May, at which point the market will test whether the current valuation aligns with the project's newly quantified potential.