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Antimony Resources (CSE: ATMY) has seen the potential at their Bald Hill Antimony Project in New Brunswick improve following the filing of a revised NI 43-101 Technical Report. The report has outlined a revised potential target of 2.7 million tonnes at 3.0% to 4.0% antimony.
The revised target translates to the potential for 81,000 to 108,000 tonnes of contained antimony, which is a substantial jump from the prior potential target, which stood at 30,000 to 40,000 tonnes of potential contained antimony.
“The NI 43-101 Technical Report filed on SEDAR Plus is very significant as it indicates a substantial increase in the estimate of potential of the Bald Hill Antimony Deposit. The recently completed 3-D Model was very useful in preparing this estimate as it indicated four distinct and discernable antimony-bearing zones of stibnite mineralization. The calculation of the volume of these trends along with an assumed grade of between 3.0% and 4.0 % Sb gave us the estimate of between 81,000 and 108,000 metric tons of contained antimony,” commented Jim Atkinson, CEO of Antimony Resources.
The revised study follows the completion of a phase one study that saw 3,150 metres drilled in aggregate over 16 drill holes. High grade antimony bearing stibnite was identified within 75% of those drill holes, with highlight intersects that include 4.17% antimony over 7.4 metres, 9.85% antimony over 4.3 metres and 14.91% antimony over 3.0 metres.
A phase two, 6,000 metre drill program is now underway as a follow-up to that phase one program. The phase two program aims to both detail the known deposit and extend it to both the north and south. 3,000 metres have been completed to date under the program, with the program already seeing early success on the stated program objectives.
READ: Antimony Resources Commences 6,000 Metre Phase Two Drill Program At Bald Hill Antimony Project
“Right now, we are focusing the drilling to infill areas where there are gaps in our information. Our recent drilling has extended mineralization to the north and south and presently we are continuing to drill to expand the mineralized zones. [..] We are very excited by what we are seeing in this phase of exploration drilling. We have intersected antimony-beating stibnite mineralization in every drill hole and the potential of the project Is expanding with every drill intersection,” continued Atkinson.
A mineral resource estimate is expected to be conducted upon the completion of the study. In terms of modeling, four zones of antimony bearing mineralization have been identified to date, which is based on a 0.5% antimony cut-off grade.
Antimony Resources last traded at $0.49 on the CSE.
FULL DISCLOSURE: Antimony Resources Corp. is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Antimony Resources Corp. The author has been compensated to cover Antimony Resources Corp. on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
