Antimony is one of the hottest commodities currently being chased by explorers and Equinox Resources (ASX: EQN) appears to be on a winner at its Alturas project in British Columbia, Canada.
Equinox signed a 12-month option to acquire the Alturas project in early September and the price for antimony has since risen to around US$36,000 per tonne from approximately US$24,000/t.
A recent reconnaissance campaign at Alturas that focused on a 1.5-kilometre shear zone identified as the main mineralising structure has returned numerous ultra-high-grade antimony assays, with results as high as 69.98%.
Equinox Resources managing director Zac Komur said the demand for antimony has led the company to increase its total landholding interests to 6.31 sq km on the Alturas project.
“Rock chip samples have returned grades as high as 69.98% antimony, establishing some of the world’s highest reported natural stibnite grades,” Mr Komur said.
“Considering that pure stibnite contains 71.4% antimony, these findings confirm Alturas as a truly unique and valuable asset.”
“By strategically expanding our footprint with additional claims to the east and west, we are positioned to explore beyond the known mineralisation.”
“This project offers us a rare chance to unlock substantial value by systematically exploring an underexplored, ultra-high-grade asset in a mining-friendly jurisdiction.”
The dramatic increase in exploration for the metal and the jump in price is in response to supply constraints arising from new export controls on antimony announced by China in September.
Antimony alloys are used – with lead – in batteries, as well as printing presses, bullets, cable sheathing and flame-retardant materials.
The additional tenements strengthen Equinox Resources’ position within the Slocan Mining Division, providing expanded exploration potential across the highly prospective shear zone.
The Alturas tenements cover the historic Alps-Alturas project, an antimony mine operated by the Alps Mining Company between 1916 and 1926 that produced 105 tons of ultra-high-grade antimony ore over that period with an average grade of 57.2%.
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