Thunderbird Resources Expands Portfolio with High-Potential Antimony and Gold Projects in NSW
THUNDERBIRD RESOURCES LIMITED (THB) Share Update November 2024 Tuesday 12th
Thunderbird Resources Acquires Prospective Antimony and Gold Projects in NSW
Thunderbird Resources Limited (ASX: THB) has announced a significant acquisition of a highly prospective antimony and gold exploration portfolio in New South Wales, strategically surrounding Larvotto Resources' Hillgrove Gold-Antimony Project.
Instant Summary:
- Thunderbird acquires 488km² exploration portfolio around Hillgrove Gold-Antimony Project.
- The portfolio includes EL9053 and EL9147 with high-grade historical workings.
- Antimony prices are rising due to global supply restrictions.
- Acquisition offers exploration potential during the northern hemisphere winter.
Acquisition Details
Thunderbird Resources Limited has entered into a binding agreement to acquire a 100% interest in a 488km² exploration portfolio in the New England Orogen of New South Wales. This strategic acquisition surrounds the Hillgrove Gold-Antimony Project, one of the top antimony deposits globally, owned by Larvotto Resources.
The portfolio includes two key exploration licenses, EL9053 and EL9147, known as the Rockvale and Kookabookra Projects, respectively. These projects are considered highly prospective for high-grade antimony and gold mineralization, with historical sampling grades of up to 18.2% antimony and 76g/t gold.
Strategic Importance
EL9053, the Rockvale Project, covers potential strike extensions of the gold-antimony mineralization at Hillgrove, encompassing multiple known occurrences and historical workings. EL9147, the Kookabookra Gold Project, covers multiple gold reefs in the historical high-grade Kookabookra gold field.
The acquisition is timely, given the rising prices of antimony, a critical metal used in high-tech and defense products. Prices have surged due to export restrictions imposed by China, the dominant global supplier.
Future Exploration Plans
Thunderbird plans to leverage this acquisition to explore high-quality assets throughout the year, particularly during the northern hemisphere winter when its Canadian assets are less accessible. Initial exploration will focus on historical workings and prospects, with potential for new targets using modern geophysics.
The acquisition positions Thunderbird Resources strategically in the antimony and gold markets, potentially boosting its stock value as investors anticipate positive exploration outcomes. The rising antimony prices could further enhance the project's economic viability.
Investor Reaction:
Analysts are likely to view this acquisition favorably, given the strategic location and high-grade potential of the projects. The rising demand for antimony as a critical metal adds to the positive outlook.
Conclusion:
Investors should consider the long-term potential of Thunderbird's new acquisitions and the impact of rising antimony prices. Monitoring the company's exploration progress and market developments will be crucial.