ATMY reports “massive”antimony bearing stibnite mineralization at Bald Hill project

[Redator]

Mineralization at Bald Hill project in New Brunswick, Canada. Image: Antimony Resources.

Antimony Resources (CSE: ATMY) (FSE: K8J0) reported Wednesday that the first assays have been received from drilling at its Bald Hill antimony project, including sections of “massive antimony stibnite and stibnite bearing breccia-filling” intersected.  

The Bald Hill project is located in Canada’s New Brunswick province. 

The company reported drilling 4.17% Sb over 7.40 meters including three zones which returned 28.8% Sb, 21.9% Sb, and 17.9% Sb, respectively. 

Ten additional drillholes have been completed to date and sections of massive antimony stibnite and stibnite bearing breccia-filling have been intersected in the drill holes, the company said.  

The antimony bearing mineralization has been outlined in surface outcroppings over a distance of at least 300 meters to the southeast beyond the original drilling. 

Stibnite is commonly mined for its antimony content. The recent cancellation of antimony exports by China, combined with a substantial price increase, have driven efforts to locate and extract this critical metal in Canada and the US. 

Assays are pending and are expected for the next set of drill holes in two to three weeks, the company said. 

Drill holes BH-25-01 and BH-25-02 did not reach the target before the holes were abandoned. It was determined that the drilling did not reach the target mineralization, it added.  

Additional drilling and information gathered by prospecting and mapping the newly discovered surface occurrences indicated that these drillholes had ended short of the mineralized zone.  

“I am very pleased with the assays returned for drillholes BH-25-03 and BH-25-04,” Antimony Resources CEO Jim Atkinson said in a news release. “The shortfall of the first two drillholes was disappointing but we have better identified the location of the mineralization with each successive drill hole and the surface mapping and have retargeted the area of drillholes 1 and 2 with additional drill holes to intersect the Zone.  

 “The results obtained in these first samples have increased our confidence in the validity of the previous drilling results and will assist in establishing the drill hole density we will need for a Resource,” Atkinson said.  

By market close in Toronto, Antimony Resources’ stock had been traded 1,640,408 times, closing the day down 21%. Average daily trading volume is 173,350. The company has a C$6 million ($4.4m) market capitalization.