Trigg Minerals (ASX:TMG) has climbed to 8.4cps in morning trades, a jump of +10%, after posting an upgraded antimony exploration target of between 96,000 and 234,000 tonnes.
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The news came after a trading halt last week around its recent acquisition of the Utah-based Canyon antimony project, which caused some jitters – but the market, clearly, has liked the news it received.
Especially because demand for the critical tech metal is unlikely to abate anytime soon, and, as we saw last week, the U.S. government is moving to buy stakes in key U.S. critical element mineral projects.
The relatively unexplored acreage atop which Canyon perches is underlined by the shallow depths upon which the exploration target is based, covering a 4.3 x 2.4km area at 3m thickness – suggesting the potential for further upgrades, should deeper-lying material prove mineralised.
Fieldwork on-site has now kicked off with early-stage data collection ramping up with a view towards eventual drilling. And that’s been enough to impress shareholders both on HotCopper and elsewhere online.
“[The target] reinforces the potential of this district-scale system to host a substantial antimony inventory at a time when secure, domestic sources of this critical mineral are of increasing strategic importance,” company chief Andre Booyzen said.
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The company helmsman continued: “Trigg remains focused on advancing the Project through systematic exploration and technical reporting under the SEC S-K 1300 standard, with a view to unlocking long-term value for shareholders and contributing to the resilience of critical mineral supply chains.”
TMG last traded at 8.4cps on Monday morning.
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