Felix Gold (ASX: FXG) has discovered “extraordinary” high-grade and near-surface antimony of up to 28% Stibnite at their Treasure Creek project in the esteemed Fairbanks Gold Mining District in Alaska. Assay results for eight holes confirm the discovery of multiple antimony zones, which showcases the potential within the NW Array Prospect in Treasure Creek, 2.5km west of the Scrafford Antimony Mine. The high-grade, near-surface antimony results include 1.5m at 26% Sb from 22.86m and 16.8m at 1.91% from 51.8m. Additionally, 1.52m at a remarkable 28% Sb from 6.1m was recorded, which represents some of the highest antimony grades uncovered this year. There was also 7.6m at 10.46% Sb from 30.48m including 6.1m at 13% Sb. Join Executive Director of Felix Gold Joe Webb for an online investor briefing this Thursday 26th October at 12pm (AEDT) to hear more about the significance of antimony findings. Register here or request a replay.

Figure 1 and 2: Treasure Creek Project and Exploration Area.

Commercial pathways unfolding

Antimony has similar geochemical properties to gold and is often found in lower concentrations alongside gold deposits, so it was no surprise to the Company to detect the critical metal. However the remarkably high-grade nature of the recent findings presents “opportunities to assess the independent potential of Antimony operations,” said Joe Webb, Executive Director. For context, the largest antimony mine in the world – located in China – operates at just 4% Sb.

Critical metal in high demand

Antimony has emerged as a critical strategic metal for the United States due to its significance in producing military equipment, along other uses. In the past, the US had a thriving antimony market, and Felix’s Treasure Creek played a vital role by supplying this crucial mineral during World War 2, the Korean War, and the Vietnam War. However currently, there is no domestic antimony production in the US. US antimony production has dwindled to nothing over time, resulting in a worrisome reliance on imports from foreign countries, with China and Russia being the primary producers. The urgent need for supply and processing diversification, repeatedly emphasised, has prompted the US Department of Defence to take drastic measures, including stockpiling the resource and financially supporting the reopening of mines.

Scrafford Mine Historic Production

Felix’s Treasure Creek has strong credentials for antimony, being home to the previously producing Scrafford Antimony Mine. Scrafford deposit is located along a prominent fault zone, which extends over more than 3km and varies in thickness from 5.5 to 32 metres. The Scrafford Mine recorded remarkably high production grades of up to 56% Stibnite in the course of intermittent operation between 1915 to 1977. At times, Scrafford was the second-largest producer of antimony in Alaska. Mineralisation at the Scrafford deposit consists of massive stibnite lenses up to 2.4 metres thick with reported grades up to 46% Sb. Grades of up to 5.5g/t gold have been reported in the footwall zone.

North-West Array: Extending Limits of Gold Mineralisation

Drilling of the NW Array Prospect has successfully extended the limits of gold mineralisation previously defined by explorers ACNC and Silverado. Drilling has intercepted gold mineralisation over an area of approximately 2km by 600m. Further exploration work is required to determine the limits of gold mineralisation which remains open. The discovery of high-grade antimony enriched zones through Treasure Creek represents a valuable new commercial opportunity for Felix, alongside gold mineralisation seen in recent drill assays. Antimony’s scarcity, limited supply, and strategic necessity make it an exceptionally compelling opportunity for Felix Gold. Join Executive Director of Felix Gold Joe Webb for an online investor briefing this Thursday 26th October at 12pm (AEDT) to hear more about the significance of antimony findings. Click here to book in or request the replay.

Reach Corporate provides Corporate Advisory Services, including managing investor communications on behalf of Felix Gold Limited and may receive fees for its services.

Past performance is not a reliable indicator of future performance.

This Week’s News

News

31st May 2024

Top geo backed by leading resources funds believes he has discovered a potential new gold-copper district

News

8th May 2024

BHP Xplor winner coming to the ASX

News

4th May 2024

AI Industrial Revolution: Aussie company unlocking AI for multinationals

Any advice provided by Reach Markets including on its website and by its representatives is general advice only and does not consider your objectives, financial situation or needs, and you should consider whether it is appropriate for you. This might mean that you need to seek personal advice from a representative authorised to provide personal advice. If you are thinking about acquiring a financial product, you should consider our Financial Services Guide (FSG)

including the Privacy Statement and any relevant Product Disclosure Statement or Prospectus (if one is available) to understand the features, risks and returns associated with the investment.

Please click here to read our full warning.