Felix Gold Unveils High-Grade Antimony Assay Results at Treasure Creek
FXG (FXG) Share Update August 2024 Tuesday 27th
Felix Gold Announces High-Grade Antimony Assay Results
Felix Gold Limited (ASX: FXG) has announced remarkable high-grade antimony assay results from its Treasure Creek Project, highlighting the potential for near-term antimony production to complement its existing gold resources.
Instant Summary:
- Historical Significance: The Scrafford Antimony Mine was one of Alaska's largest antimony producers.
- Latest Assay Results: High-grade antimony assays include 15.99% Sb over 1.5m.
- 2023 Drilling Results: Complementary high-grade antimony mineralization reported.
- Assessing Near-Term Production: Viability of stand-alone, low-capex antimony production under evaluation.
- Simple Processing Methods: Historical success with gravity separation suggests low-cost processing potential.
- High-Quality Concentrate: Premium antimony ores with valuable byproduct gold and silver.
- Established Infrastructure: Proximity to Fairbanks reduces infrastructure costs and supports rapid production.
High-Grade Antimony Assay Results
Felix Gold Limited (ASX: FXG) has reported exceptional high-grade antimony assay results from its Treasure Creek Project in Alaska. The company is evaluating the potential for near-term antimony production to enhance shareholder value alongside its existing 833 koz Inferred Gold Resource.
The historic Scrafford Antimony Mine, part of the Treasure Creek Project, was one of Alaska's largest antimony producers, with past production grades reaching up to 58% Sb. Recent drilling has yielded impressive results, including 3.0m @ 14.24% Sb from 7.62m and 1.5m @ 15.99% Sb from 86.87m.
2023 Drilling Results
Complementary high-grade antimony mineralization from 2023 drilling includes 15.2m @ 5.5% Sb from 21.3m and 1.5m @ 26.1% Sb from 38.1m. Felix Gold is assessing the viability of a stand-alone, near-term, high-grade, and low-capex antimony production operation.
Processing and Infrastructure
The historical success of using simple gravity separation methods at Scrafford suggests that a cost-effective processing plant could be implemented for future operations. The high-quality antimony ores and concentrates from Scrafford are free of harmful smelter impurities and contain valuable byproduct gold and silver, enhancing the project's economic attractiveness.
Preliminary metallurgical tests have demonstrated a high recovery rate of over 90% for stibnite using flotation, indicating efficient antimony extraction. The established infrastructure in Fairbanks, a central mining services hub, further supports the potential for rapid production with minimal new infrastructure development.
Strategic Importance
Antimony is recognized as a critical mineral by the U.S. due to its essential roles in defense, flame retardants, energy storage, high-tech industries, and medical equipment. With no domestic antimony production, the U.S. relies heavily on imports, primarily from China. Felix Gold's strategic location and high-grade antimony resources position the company to contribute significantly to U.S. critical metal needs while advancing its gold exploration efforts.
The announcement of high-grade antimony assay results is likely to positively impact Felix Gold's stock price as investors recognize the potential for near-term production and the strategic importance of antimony. The company's ability to leverage existing infrastructure and historical production success further enhances its prospects.
Investor Reaction:
Analysts are expected to react positively to the high-grade assay results and the potential for near-term antimony production. The strategic importance of antimony and the company's established infrastructure are likely to be viewed favorably by investors.
Conclusion:
Investors should closely monitor Felix Gold's progress in assessing the viability of near-term antimony production. The company's strategic location and high-grade resources position it well to capitalize on the growing demand for critical metals. Subscribe to our newsletter for regular updates on Felix Gold and other stock market news.