GoldMining Inc. Unveils Antimony Discovery at Crucero Project
GoldMining Inc. Unveils Antimony Discovery at Crucero Project
GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG) has recently announced exciting developments at its wholly-owned Crucero Project. This disclosure follows a thorough analysis of historical data revealing significant antimony mineralization associated with gold at the site.
Key Discoveries at Crucero
The Crucero Project is now not only recognized as a robust gold mineralized system but also for its significant antimony values. The antimony price has surged recently, reflecting its strategic significance due to shortages, reaching approximately US$55,250 per tonne. This increase highlights the growing interest and potential value antimony adds to the Crucero Project.
Mineralization Details
Gold mineralization is predominantly interlaced with minerals such as pyrite, pyrrhotite, arsenopyrite, and notably, stibnite, which is known to contain antimony. The indicated resource at Crucero is substantial, with an estimated total of 30.65 million tonnes ("Mt") at an average grade of 1.0 gram per tonne gold ("g/t Au"), translating to around 993,000 ounces ("oz") of gold. Additionally, there is an inferred resource of 35.78 Mt at 1.0 g/t Au, potentially adding another 1,147,000 oz of gold.
Drilling Highlights
Recent drilling results have shown promising antimony levels, with select drill intercepts verified by the Company. Some key findings include:
- DDH-01: 2.49 g/t gold equivalent (AuEq) (1.05 g/t Au & 0.41% Sb) over 47 metres.
- DDH-02: An astonishing 44.37 g/t AuEq (42.15 g/t Au & 0.63% Sb) over 7 metres, featuring one interval of 1,075 g/t Au & 8.96% Sb across 0.25 meters.
- Further results include 2.79 g/t AuEq (0.71 g/t Au & 0.59% Sb) over 79 metres, showcasing the mineral richness of the area.
Understanding the Crucero Project
The Crucero Project is strategically situated in the Andes mountain range. Its geographical placement supports a favorable exploration climate, with necessary infrastructure nearby. The project exhibits orogenic gold mineralization linked to key sulfide minerals that contribute to its overall resource potential.
Past exploration efforts have involved a mix of geological mapping, geochemical sampling, and diamond drilling, concentrating on highlighted anomalies, particularly in the A1 Zone, where the majority of the drilling has been conducted.
Strategic Importance of Antimony
Antimony's designation as a critical metal stems from its scarcity and the pressing global demand across various industries, particularly in technology and defense. Its price may reflect fundamental shifts in supply chains, particularly as China controls a significant portion of the global supply. Rising geopolitical tensions have underscored the importance of securing antimony resources, and the Crucero Project positions GoldMining to tap into this potential.
Looking Towards the Future
GoldMining, led by its CEO Alastair Still, expresses excitement about the prospects of unlocking additional values at Crucero. The interplay between the increased attention on antimony and the already substantial gold resource presents valuable opportunities moving forward. "With the strategic bottleneck in antimony supply, we aim to quantify this alongside the gold mineralization to enhance the project’s economic viability," states Still.
The ongoing validation of the Crucero Project's extensive database will facilitate further analysis and exploration efforts, focusing on the distribution and enhancement of existing resources.
Frequently Asked Questions
What is the significance of the antimony discovery at Crucero?
The discovery of antimony mineralization opens new avenues for potential value addition to the already substantial gold resource at the Crucero Project.
How does GoldMining plan to develop the resources at Crucero?
GoldMining aims to validate and quantify the existing database for antimony alongside gold, enhancing the project's economic viability.
What impact has the market shown regarding the recent antimony price increase?
The increased antimony price reflects supply constraints and growing demand, making projects like Crucero more critical in the current market.
What are the next steps for GoldMining in regards to the Crucero Project?
GoldMining plans to conduct more exploration and validation of drill data to further assess the extent of antimony and gold mineralization.
Where can I find more information about GoldMining Inc.?
For further details, the public can visit GoldMining Inc.'s website, where additional project information and updates are available.
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