The inaugural drilling campaign at Sun Silver’s Maverick deposit in Nevada, USA has returned antimony grades above 10,000ppm over 3.24m from 195.07m from hole MR24-205 (reports Stockhead).
That same hole also intersected 16.76m at 494g/t gold equivalent from 193.55m down-hole, with the hole ending in mineralisation.
Assays which returned antimony results above the analysis method detection limit (10,000ppm) have been sent for re-assay to determine the mineralised concentration above this limit.
Sun Silver (ASX:SS1) believes the drilling campaign continues to build on historical results, which also include results of more than 10,000ppm antimony (MR08-184) but were not re-assayed at the time.
Additional assay results are pending for holes MR24-199 to 204 and are expected within the next 8-10 weeks.
Antimony, listed as a critical mineral in the EU, Japan, the US and Australia, plays a vital role in numerous applications across the defence, technology and energy space.
It is also used in munitions (military equipment and ammunition), semi-conductors and clean energy storage batteries.
China has recently announced restrictions on the export of it and together with its allies Russia and Tajikistan, account for a total of 90% of global antimony production.
Antimony prices really started soaring after China announced in August this year that it will place restrictions on the exports of antimony products from September, likely in part to retain its leadership in producing inexpensive yet efficient solar panels.
Within the US, Perpetua Resources Corp’s (Nasdaq: PPTA / TSX: PPTA) Stibnite gold project will provide the only locally mined source of antimony once in production, but their current production plans will only meet 35% of the country’s demand.
This presents an opportunity for companies like Sun Silver whose asset boasts high-grade antimony, as well as silver and gold.
“We will continue to leverage both the recent and historical drilling data to further validate the potential of antimony within the Maverick Springs deposit,” SS1 executive director Gerard O’Donovan said.
“This mineral’s potential to support the US Department of Defense’s goal for a secure domestic supply of antimony, particularly in light of China’s recent export restrictions, underscores its strategic importance alongside the project’s significant silver and gold resources.”
