With Antimony Prices at Record Levels, Antimony Resources Presses Ahead on Bald Hill Drilling and Offtake

Junior explorer launches 19,000m drill program at Bald Hill, targets resource estimate and off-take deals amid surging antimony prices and Western supply chain urgency.

The race to secure non-Chinese antimony supply is intensifying, and Antimony Resources is positioning itself at the front of the pack. The junior explorer has kicked off a fully funded 19,000-metre drill campaign at its Bald Hill project in New Brunswick — the largest in company history — while simultaneously initiating discussions with potential off-take partners. The dual-track strategy reflects the mounting urgency among Western buyers to lock in critical mineral supply chains ahead of a key geopolitical deadline.

Drilling Targets Main Zone and Three New Satellite Targets

The drill rigs started turning in the second week of May, with the bulk of the programme — 13,000 metres — dedicated to expanding the Main Zone, where antimony mineralisation has already been traced over 600 metres of strike length and to depths of 400 metres. The remaining 6,000 metres will test three newly defined satellite zones: Marcus, BH Central, and BH South.

Preliminary surface sampling has delivered early encouragement. At the Marcus West zone, trenching exposed antimonite layers up to 11 metres thick, while channel samples at BH Central returned antimony grades of 2.8% over more than eight metres. The company is also conducting regional soil sampling across the entire 37-square-kilometre land package.

A particularly notable development came from the Second-Run claim block, roughly three kilometres south of the main deposit. There, a sampling campaign yielded antimony concentrations exceeding 450 parts per million — more than 40 times the regional background value. The company interprets this as evidence of a separate mineralisation system that could substantially expand the project's footprint.

Resource Estimate Poised to Add Credibility

The next major catalyst for investors is the first independent mineral resource estimate, which the Toronto-based consultancy SRK Consulting is preparing in accordance with Canadian NI-43-101 standards. Until that report is delivered, the project relies only on a conceptual exploration target of approximately 2.7 million tonnes at antimony grades between 3% and 4% — a directional guide, not a certified inventory. The SRK study, expected later this year, will transform that target into a defensable mineral base.

Alongside the technical work, the company has initiated preliminary discussions with metal marketing firms regarding potential off-take agreements. The regulatory pathway is also under preparation: engineering firm GEMTEC is mapping out the permitting timeline, and initial consultations with the New Brunswick provincial government have already taken place. Management aims to file a formal mining permit application by late 2026 or early 2027.

Market Backdrop Bolsters the Case

Antimony Resources' advance comes against a buoyant commodity market. The antimony price hit an all-time high of US$59,750 per tonne on 4 July 2025 and currently trades around US$51,800 — still more than 170% above early-2024 levels. Both the US and the EU classify antimony as a critical mineral, citing its irreplaceable role in defence components, semiconductors, and battery technologies.

China's temporary suspension of export restrictions on critical minerals to the US — in place until November 2026 — has done little to ease structural concerns over supply concentration. If anything, the deadline underscores western dependence on Chinese material, adding urgency to projects like Bald Hill.

The company's balance sheet supports the current work programme: at the end of February, it held roughly C$8 million in cash, sufficient to fund both the drilling campaign and the permitting process.

Stock Rides Momentum Forward

Investors have responded to the newsflow. The stock jumped 21% on Monday to C$0.98, extending year-to-date gains to more than 1,000%. GBC AG maintained its buy recommendation with a 12-month price target of C$3.00, noting that the dilution effect from an updated share count of roughly 103 million — driven by option exercises — is offset by the project's advancing maturity and the supportive antimony market.

Until the SRK resource estimate is published, however, Bald Hill's valuation remains a bet on expectations. Once that report lands — likely before the end of 2026 — the thesis will finally have a measurable foundation.