Antimony Resources Prepares for a Defining Moment as Bald Hill Moves Toward First Resource Count

Antimony Resources finishes 12,500m drill program at Bald Hill, advancing toward NI 43-101 resource estimate amid strong antimony demand and a market deficit.

The drilling rigs have fallen silent at Antimony Resources’ Bald Hill project in New Brunswick, marking the end of a campaign that has put the company on the cusp of a formal resource estimate. The 12,500-meter program completed on April 28 brings the total drilling in the main zone to 25,000 meters, with all samples now dispatched to Activation Laboratories in Ontario for analysis.

The path to this milestone began in February, when the company set out to tighten drill spacing to roughly 50 meters — sufficient density to meet the requirements of a NI 43-101 compliant resource calculation. The results of that effort are now being processed by SRK Consulting, the Toronto-based consultancy tasked with building a 3D model of the deposit. SRK brings experience with similar antimony deposits to the table, and its team is feeding incoming lab data into the model on a rolling basis.

What SRK is working with is substantial. Drilling to date has outlined a mineralized body stretching 700 meters along strike and extending to at least 350 meters depth, with the system remaining open in all directions. Within that footprint, the mineralization averages three to four meters in width, carrying antimony grades of three to four percent. The final assay results from the most recent drill cores are expected to land in May, clearing the way for the company’s first-ever formal resource statement — anticipated by late April or early May.

A Second Campaign Takes Shape

Even before the current batch of lab results arrives, Antimony Resources is gearing up for its next phase. A fully funded 11,000-meter drilling program is slated to begin in mid-May, this time targeting satellite zones beyond the main deposit. The focus will fall on the Marcus Zone, along with the southern and central areas of the property, where earlier trench sampling returned promising antimony grades. The company’s land package has grown to more than 2,000 hectares following recent expansions.

The parallel workstreams reflect a deliberate acceleration. While geologists await assays and modelers refine the resource picture, the administrative machinery is already turning. Engineering firm GEMTEC began drafting a regulatory roadmap in early April, and initial consultations with the provincial government of New Brunswick are underway. Baseline environmental studies, which will underpin any future mining application, are set to start this spring.

A Market in Deficit

The timing of Bald Hill’s development coincides with a structurally undersupplied antimony market. Since 2022, global consumption has outpaced production, driven in large part by surging demand from the solar industry, which has multiplied its antimony intake in recent years. The metal currently trades at around $51.80 per kilogram — a slight decline from the start of 2025 but still sharply higher than early 2024 levels.

Both the European Union and the United States classify antimony as a critical raw material, underscoring its strategic importance for applications ranging from flame retardants and lead-acid batteries to military hardware. That designation has not gone unnoticed by analysts. GBC AG recently reaffirmed its buy rating on Antimony Resources, setting a price target of C$3.00 and citing the strategic value of the Bald Hill project.

The company’s balance sheet is well positioned for the work ahead. A financing round completed at the turn of the year netted C$8.7 million, providing the cash needed to fund the upcoming 11,000-meter campaign and the permitting process.

A Concentrated Catalyst Window

The next few weeks will compress several key milestones into a tight timeframe. With final lab results pending, a formal resource estimate on the verge of publication, and a major drilling campaign ready to launch, Antimony Resources is entering one of the most consequential periods in its history. The first formal valuation of the Bald Hill deposit — a deposit that has been taking shape through 25,000 meters of drilling — is now within sight.