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TMG Hits Magnificently High Grade Channel Samples and Expands Mining Claims as Global Rearmament Ramps Up Despite No Additional Antimony Supply |
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Outstandingly high grade channel samples that advanced antimony developer Trigg Minerals (ASX: TMG) just pulled out of its flagship Antimony Canyon Project in Utah,which reached grades up to 33.19% Sb and identified both epizonal orogenic and epithermal systems, have revealed deeper mineralisation which drastically increases the scope of the project.The results point towards a massive, vertically extensive mineral system that is antimony rich in the upper cooled parts - and highly prospective for gold and silver in the hotter areas at depth. |
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This likely makes the exploration target of 12.8 to 15.6Mt at 0.75% to 1.5% Sb - implying 96,000t to 234,000t of contained antimony - highly conservative in terms of both size and grade. Armed with $15 million,TMG has defined a clear geological set up that is about to be aggressively explored with the company’s upcoming drilling campaign.You can read all our TMG coverage here, including key antimony market updates like those in the second half of this article - as the commodity continues to trade above US$55k/t. |
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The lateral continuity across a 3.5km by 1.5km footprint already makes for a globally significant antimony resource, and the 52 samples above 1% Sb that TMG have hit materially bolster the widespread, high-grade nature of mineralisation across the project area. |
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TMG will be able to target the highest grade areas of ACP and easily be able to meet its near-term production target, which is being aligned with a 3,000-5,000 ton net zero smelting facility currently under assessment with $17 billion market cap Metso (HE: METSO). |
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ACP has a very long history of production across its more than 30 mines, and the grades that TMG recently unearthed are genuinely world-class. Stebenite recorded 13 underground samples at an average grade of 9.73% Sb, Little Emma recorded 14 surface samples at an average grade of 5.27% Sb, Gem recorded 9 underground samples at an average grade of 1.45% Sb, and Mammoth came in with 22 underground samples at an average grade of 0.94% Sb. |
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The addition of vertically stacked horizons and new mineralisation beneath the Flagstaff formation - combined with an Sb-As-Hg geochemical signature and alteration zonation that point towards gold and silver at depth - provide a whole new dimension of upside that is an extremely exciting prospect for TMG to be about to drill. |
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Having now identified the felsic lapilli-tuff host unit gives TMG a predictable, mappable footprint for targeting. This brittle volcaniclastic rock has fractured and brecciated, developing the secondary permeability needed to transmit hydrothermal fluids.As a result, this stratabound horizon is a key first-order predictive tool for vectoring to new mineralised zones,especially where its well-fractured and intersects structure. |
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A map of the high-grade channel samples can be seen below, which also highlights the ore zones that extend into the canyon surface. TMG recently acquired 20 patented mining claims at ACP, which gives the company control over mineral and surface rights, and allows the company to aggressively purse its near-term mining ambitions: |
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Another notable development in TMG’s strategic expansion into key critical minerals is the recent acquisition of a high grade American tungsten project in Nevada, with a resource of 780kt grading between 0.3%-0.5% W - so we’ll take a deep dive into that next week. The deposit has a treasure trove of historical data that has unveiled a massive tungsten system with brilliant grades, and assays such as 24.9m at 0.65% WO3 from 7.68m, including 10.67m at 0.98% WO3 from 19.81m, and 2.13m at 2.06% WO3 from 28.35m. |
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The antimony market is still very much in a state of pandemonium, and the critical mineral continues to trade upwards of US$55,000/t. On the demand side, arms manufacturing is being rapidly scaled up across the globe to replenish what has been expended, and stockpiling must begin soon. |
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On the supply side, there have yet to be any new mines come online, Chinese production has plummeted and its exports are down 88% YTD, while the country’s clampdown on smuggling has become so severe that Western Intelligence agencies have been colluding with Chinese producers to get critical minerals out of the country - acts that have since seen China vow tougher action. |
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From Germany to Poland and Ukraine - 155mm Shell Production is Rapidly Increasing, as China’s Antimony Chokehold Tightens |
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The monumental €800 billion plan to urgently boost the military capabilities of Europe by almost doubling defence expenditure as a percentage of GDP, is swinging into action - as is NATO’s initiative to have Europe and Canada increase their stocks of weaponry and equipment by 30%. |
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€80 billion German defense giant and major antimony consumer Rheinmetall (GER: FHMX) has gone ballistic on 155mm shell production, and is aiming to have 1.1 million unit annual capacity by 2027.The company just opened a new facility in Northern Germany that will ramp up to 350k units per year by 2027 as part of a €500 million investment in arms manufacturing, and even though construction is still underway at its new Ukrainian facility - it was recently announced that capacity would be doubled to 300k units per year.RHMX’s share price has risen over 2,000% since the start of the Ukraine war. |
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Poland is also aiming to increase its 155mm shell production from the current 30kpa capacity to 180kpa by 2027 - up from the 3,000 units produced in 2023. The Polish Armaments Group (PGZ) has been awarded €565.9 million to expand three existing factories with state of the art technology - as well as for the procuration of raw materials, antimony of which is a key component. |
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China is determined to prevent the US and EU getting their hands on antimony, and just recently held up 55 tons of the metal from Australia for 3 months because its end destination was America.The shipment from Costerfield - Australia’s only antimony mine and the operation that TMG’s CEO Andre Booyzen led for 7 years - was destined for United States Antimony Corp (NYSE: UAMY), but was forcibly sent back after basically being held hostage. |
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UAMY had to ask for help from the US State Department and the White House to secure its release - and Costerfield has vowed to never again send its antimony bound for the US through a Chinese smelter.This chokehold that China is tightening on the flow of critical minerals can be seen below, which shows the complete collapse of the country’s antimony and germanium exports: |
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Source: General Administration of Customs, Reuters |
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Europe Condemns China and Fast Tracks Critical Minerals Funding, Australia funds $135 million for Antimony Smelter |
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The European Union has been assessing the continent’s exposure to critical minerals for almost 15 years, and completed extensive reviews in 2011, 2014, 2017, 2020 and 2023 -every single year of which antimony was identified as critical. |
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Having recently condemned China’s critical mineral export bans, the EU parliament passed a new resolution that will fast track funding available through the Critical Raw Materials Act (CRMA), which specifically exists to finance projects that extract, refine and process critical minerals.There are also a whole litany of other historically effective measures built into the act, such as the ability to encourage large firms in strategic sectors to adopt risk-preparedness and stockpiling measures through instruments like price floors and offtake support. |
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Global stockpiles of antimony are in desperate need of a strategic review and replenishment.The US holds barely enough to cover 42 days of standard consumption, and the country is certainly facing higher than normal levels of demand in the face of rapidly increasing rearmament, as is Europe. |
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Domestically, a $135 million funding package that has been assembled from the Australian Federal Government, as well as the South Australian and Tasmanian state governments, will be used to modernise and completely transform two smelting operations.The immediate focus of the funding package is to deploy an Antimony Pilot Plant in Port Pirie - but there is still the crucial question as to where concentrate will be sourced from. |
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All of this bodes well for an antimony industry that is completely independent of China - which is exactly what the Western world is endeavouring to create - and TMG’s Antimony Canyon Project is shaping up to be a world class asset that has incredible grades and seriously strong prospects for near-term production. |
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Disclaimer: This article is for informational and marketing purposes only, and does not constitute financial advice or a recommendation to invest. All opinions expressed are our own. We may receive fees or other forms of compensation in connection with the publication of this content, and may own shares in any of the mentioned companies. Please do your own research and seek professional advice before making any investment decisions. |
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