Trigg Minerals Commences Maiden Exploration at Taylors Arm Antimony Project
TMG (TMG) Share Update September 2024 Tuesday 24th
Trigg Minerals Begins Exploration at High-Grade Taylors Arm Antimony Project
Trigg Minerals Limited (ASX: TMG) has announced the commencement of a maiden exploration program at its newly acquired Taylors Arm Project in northern New South Wales, targeting high-grade antimony and gold mineralization.
Instant Summary:
- Trigg begins systematic exploration at Taylors Arm Project.
- Project is highly prospective for economic antimony and gold mineralization.
- 71 historical workings identified with high-grade antimony.
- Key mines include Swallows Nest, Testers, Little Purgatory, and Real McKay.
- Antimony prices are at all-time highs due to China's export ban.
- Exploration to focus on data compilation and geophysical surveys.
Project Overview
Trigg Minerals Limited has initiated a systematic maiden exploration program at its Taylors Arm Project in the New England Orogen, northern New South Wales. The project is highly prospective for economic antimony and gold mineralization, with 71 historical workings identified, including several high-grade antimony mines.
The Swallows Nest Mine, which operated from 1940 to 1955 and reopened in 1972, produced antimony at concentrations of 40% and 30% respectively. Recent rock samples from this mine revealed grades of 29.8% and 31.4% antimony. The Testers Mine, another key site, features massive stibnite veins grading up to 63% antimony, the highest recorded in Australia.
Historical Workings
Other significant historical workings include the Little Purgatory Mine, with stockpile samples grading up to 27.7% antimony, and the Real McKay Mine, where recent exploration identified high-grade antimony mineralization with grades of 15.2% and 52.7% antimony. Additional workings at Taylors Arm have reported antimony grades up to 20.6% at Walfords Claim, 27.5% at Neil & Taylors Prospect, 18.3% at Bowraville, and 17.7% at Kia Ore Mine.
Despite the widespread occurrences of antimony, there has been no modern, systematic exploration since at least the 1990s. Trigg aims to unlock further economic value by exploring the potential for larger-scale deposits across these occurrences.
Exploration Strategy
Trigg's exploration strategy will focus on data compilation and remote and geophysical surveys to prioritize exploration targets while minimizing environmental and community impacts. The company has engaged Dr. Neil Pendock of Dirt Exploration to complete thermal remote sensing studies across the prospective geology. Satellite thermal imagery and high spatial resolution imagery will be used to extrapolate known antimony occurrence information from historical workings to the rest of the exploration license.
Regular updates on the exploration program’s progress and results will be provided to the market, ensuring transparency and keeping investors informed.
The commencement of this exploration program is a significant step for Trigg Minerals, as it aims to capitalize on the high antimony prices driven by China's recent export ban. The potential discovery of economically viable antimony and gold deposits could positively impact Trigg's stock price and attract investor interest. However, the success of the exploration program and subsequent development will be crucial in determining the long-term impact on the company's valuation.
Investor Reaction:
Analysts are likely to view this announcement positively, given the high-grade historical workings and the current high prices for antimony. The systematic exploration approach and focus on minimizing environmental impact are also likely to be well-received. However, investors will be keenly watching the progress and results of the exploration program to gauge the potential for significant discoveries.
Conclusion:
Investors should keep a close eye on Trigg Minerals' updates regarding the Taylors Arm Project. The exploration program's success could unlock significant value and provide a strong growth catalyst for the company. As always, staying informed and assessing the potential risks and rewards is crucial for making well-informed investment decisions.