Trigg Minerals Expands Portfolio with High-Grade Antimony Project Acquisition
TRIGG MINERALS LIMITED (TMG) Share Update September 2024 Sunday 29th
Trigg Minerals Acquires High-Grade Antimony Project
Trigg Minerals Limited (ASX: TMG) has announced the acquisition of the Achilles Antimony Project, which includes the globally significant Wild Cattle Creek (WCC) Antimony Deposit in northern New South Wales.
Instant Summary:
- Trigg signs a purchase agreement to acquire 100% of the Achilles project.
- The WCC deposit is Australia's highest-grade undeveloped antimony deposit.
- Historical drilling results include intersections of up to 14.45% Sb.
- The WCC deposit has a JORC 2012-compliant Mineral Resource Estimate of 610,000 tonnes at 2.56% Sb.
- High antimony recoveries of over 95% are achievable through conventional milling and flotation.
- Trigg plans further exploration to expand the resource and advance its Taylors Arm antimony project.
Acquisition Details
Trigg Minerals Limited (ASX: TMG) has signed a binding purchase agreement with Anchor Resources Pty Limited to acquire the Achilles Antimony Project in northern New South Wales. The project includes the Wild Cattle Creek (WCC) deposit, which is known for its high-grade and high-tonnage antimony resources.
The WCC deposit is Australia's highest-grade undeveloped antimony deposit and ranks among the highest-grade antimony deposits globally. Historical drilling has recorded significant intersections, including 10.7 meters at 14.24% Sb and 18.7 meters at 4.5% Sb, among others.
Resource Estimates
The WCC deposit has a JORC 2012-compliant Mineral Resource Estimate of 610,000 tonnes at 2.56% Sb, containing 15,600 tonnes of antimony. This estimate is based on a high cut-off grade of 1% and includes both indicated and inferred categories.
Historical metallurgical tests have shown that ultra-high antimony recoveries of over 95% are achievable through conventional milling and flotation techniques. The deposit is enriched from the surface and remains open down plunge, indicating significant potential for resource expansion.
Strategic Importance
Acquiring the Achilles Project, including the WCC deposit, significantly enhances Trigg Minerals' portfolio. The company plans to progress further exploration for resource expansion at the WCC deposit while simultaneously advancing its 100% owned Taylors Arm antimony project, which contains Australia's highest recorded antimony grade at 63% Sb.
This acquisition positions Trigg Minerals as a significant player in the global antimony market, which is experiencing increased demand due to its strategic importance in various industries, including flame retardants, batteries, and military technologies.
The acquisition of the Achilles Project, including the high-grade WCC deposit, is expected to positively impact Trigg Minerals' stock. The high-grade nature of the deposit and the potential for significant resource expansion are likely to attract investor interest. Additionally, the strategic importance of antimony as a critical mineral further enhances the project's value.
Investor Reaction:
Analysts are likely to react positively to the acquisition, given the high-grade nature of the WCC deposit and the potential for significant resource expansion. The strategic importance of antimony in various industries, coupled with China's recent export controls, underscores the importance of securing reliable antimony supplies.
Conclusion:
Investors should closely monitor Trigg Minerals' progress with the Achilles Project and the WCC deposit. The company's strategic focus on antimony positions it well to capitalize on the growing demand for this critical mineral. Subscribe to our newsletter for regular updates on Trigg Minerals and other stock market news.