Antimony Resources Corp, registered under CSE: ATMY, announces a private placement for an amount up to $4,025,000 in two tranches. The funds are expected to support exploration activities at the Bald Hill Antimony Project in New Brunswick, Canada. Details of the financing include:
- The sale of 10,000,000 common shares at C$0.20 to raise $2,000,000 until fully subscribed, via hard dollar investment
- Sale of 7,500,000 flow-through shares at $0.27, in total up to $2,025,000
The money is meant to meet other expenses related to exploration, development activities, and working capital. The most recent drill results appear promising for antimony mineralisation at depth and along strike.
Antimony Resources Launches $4.03M Two-Tranche Private Placement
What do recent drilling results reveal about Bald Hill’s potential?
Recent assays from the Phase One Drill Program showed promising results in terms of high-grade antimony zones. The three holes that returned significant results included:
- BH-25-08: 91% Sb over 3.0 metres, incl. 28.76% Sb over 1.7 metres
- BH-25-09: 9.85% Sb over 4.3 metres, incl. 18.19% Sb over 1.8 metres
- BH-25-05: 1.1% Sb over 14.5 metres
The drilling campaign had originally called for 2,500 metres, but with drilling proving efficient and low-cost, the program was extended to 3,150 metres. This extension discovered stibnite-bearing breccias to the southeast and expanded the potential mineralised footprint by at least 300 metres.
Why is antimony exploration attracting investor attention?
Antimony is listed as a critical mineral in Canada and United States of America. It finds application in flame retardants, alloys, batteries, and military industries. With countries attempting to reduce dependence on Chinese supply chains, such domestic sources become increasingly strategic.
Shifting market dynamics may provide some upside to speculative buyers in North American antimony production with projects like Bald Hill. The demand outlook, which stems from the industrial and defence sectors, is a solid backdrop for highly speculative exploration plays.
Bald Hill: A historic but underexplored antimony system
The Bald Hill Project is found in southern New Brunswick with easy access by highways nearby. It is situated near the towns of Sussex, Fredericton, and Saint John. Past exploration programmes, including more than 5,400 metres of core and 25 drill holes, have defined a mineralized system with good grades.
Historical data encompasses:
- A mineralized deposit running for over 500 metres open in all directions;
- Widths averaging 3 metres at grades of 3-4% Sb;
- An NI 43-101 Technical Report in 2010 suggesting 725,000 to 1,000,000 tonnes grading 4.11%-5.32% Sb;
- Potentially 30,000 to 40,000 tonnes contained antimony;
A key drillhole from 2008, DDH08-03, intersected 4.51 metres at 11.7% Sb, including 2.29 metres at 20.9% Sb. Additional trenching in 2014 identified further mineralisation, notably 2.90% Sb over 8.18 metres, with higher-grade subzones.
High-grade antimony boulder from Bald Hill, New Brunswick
Investors eye maiden resource in 2025
According to the original plan, ATMY was to conduct drilling for at least 2,500 metres on known zones and possible extensions. After successfully drilling more than 3,100 metres, it hopes to announce a Maiden Resource Estimate by the end of the year.
The results of the assays of the last holes are expected in four weeks. Meanwhile, the company will be issuing more assay results as received and verified. If found to be positive, these formations could underpin a sizeable resource base on which revaluation will be triggered in the junior market.
Investor appetite for Canadian mining juniors remains cautious but opportunistic. With regards to considerations on global supply chain and the strategic value of antimony, this project is gaining more rides.
Flow-through and hard dollar financing support exploration push
The dual financing structure of flow-through and hard dollar shares maximizes tax advantages for Canadian investors. Flow-through shares allow the buyer to write off the exploration costs, which makes them attractive in an otherwise volatile market.
That ATMY has been able to raise $4 million-plus is a vote of confidence from the market in the company’s management and geology. The management brings the experience of finance, exploration, and mining development, with a clear objective to become a leading antimony producer in North America.
Also Read: Resolution Minerals Strengthens North American Expansion Strategy with Strategic Appointments
Outlook: Growing market, strong positioning
The global mineral exploration services market is expected to see expansion from USD 13.5 billion in 2023 to USD 21.4 billion in 2032, at a CAGR of 5.2%, resulting from the increase in demand for minerals and metals, exploration technology advancement, and sustainable mining.
As Bald Hill progresses, Antimony Resources Corp might become a supplier of importance in North America. Continuous exploration, funding support, and strategic mineral status provide a nucleus for long-term expansion.
