Antimony Resources Reports Significant Stibnite Discovery
Recent Discoveries at the Bald Hill Antimony Project
Antimony Resources Corp. has recently provided an exciting update regarding its Bald Hill Antimony Project. This location holds great promise, as the company emphasized significant progress achieved under the guidance of Globex Mining Enterprises Inc.
Key Assay Results from Recent Drilling
The company, in a recent report, highlighted assay results from two specific drill holes—BH-25-3 and BH-25-4—that successfully intersected the target antimony zone. This phase follows the initial drilling of four holes where certain other attempts, BH-25-1 and BH-25-2, needed readjusting but paved the way for further exploration.
Details of Hole Intersections
In particular, Hole BH-25-3 revealed an impressive 2.76% Sb over a length of 2.8 meters, showcasing a peak of 19.0% Sb over 0.4 meters. Meanwhile, Hole BH-25-4 exceeded expectations with an intersection of 4.17% Sb over 7.40 meters. This hole's core included multiple massive stibnite veins, with extraordinary grades of 28.8% Sb over 0.50 meters, 21.9% Sb over 0.40 meters, and 17.9% Sb over another 0.40 meters.
Implications of Findings
These initial drill results are critical as they not only reflect the potential of the Bald Hill site but also echo the growing demand for antimony. Reports suggest that antimony prices have surged recently, primarily due to shortages created by various geopolitical factors.
Ongoing Drilling Efforts and Future Plans
The fieldwork does not stop here; a total of ten holes have been drilled, which promises even more insights as assays of further mineralized intersections are pending. Notably, the drilling has also indicated some low-grade gold mineralization, with findings up to 2.15 g/t Au over 0.40 meters at the same site as BH-25-4, adding to the economic viability of the project.
Potential Options and Financial Undertakings
Globex Mining Enterprises Inc. has established a financial framework within which Antimony Resources operates. Recent assessments indicate that the terms of this agreement involve significant cash payments and the issuance of shares, strengthening the collaborative endeavor between the two entities.
In total, cash payments are expected to reach $2,000,000 along with 1,100,000 shares of Antimony Resources, complemented by a minimum of $5,000,000 in expenditures on the property over the next four years. Upon completion, Globex retains a 3.5% Gross Metal Royalty, a compelling motivator for their involvement in the antimony mining space.
Contact Information for Further Inquiries
For those interested in obtaining more information, please reach out to Jack Stoch, the President and CEO of Globex Mining Enterprises Inc. He can be contacted directly. Their office is located in Rouyn-Noranda, Quebec. Additionally, contact numbers for inquiries are readily available.
Frequently Asked Questions
What is the significance of antimony in modern industry?
Antimony is widely used in the production of flame retardants, lead-acid batteries, and various alloys, making it a crucial material in many industrial processes.
How does the Bald Hill Antimony Project compare to other projects?
With significant grades of stibnite discovered, the Bald Hill project shows great promise compared to other active exploration sites.
What are the financial implications of Globex’s involvement?
Globex’s partnership with Antimony Resources is expected to yield significant returns, given the outlined financial commitments and royalty agreements.
Are there ongoing updates regarding drilling results?
Yes, ongoing assays and additional drilling updates will continue to shape the understanding of the Bald Hill project's potential.
How can investors stay informed about Antimony Resources?
Investors can stay informed by following updates from Antimony Resources and Globex via their corporate announcements and press releases.
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