Trigg Minerals Expands Its Antimony Portfolio with New Acquisitions
TMG (TMG) Share Update October 2024 Tuesday 22nd
Trigg Minerals Expands Antimony Portfolio with Strategic Acquisitions
Trigg Minerals Limited (ASX: TMG) has announced a strategic expansion of its antimony portfolio with the acquisition of two highly prospective projects in northern New South Wales, Australia.
Instant Summary:
- Trigg acquires 100% of Spartan West and Taylors Arm East Antimony projects.
- Acquisition cost: $10,000 cash and $225,000 in shares.
- Projects located in a region known for high-grade antimony mineralisation.
- Significant gold and silver mineralisation identified across Taylors Arm Portfolio.
- Strategic positioning near Larvotto Resources' Hillgrove Antimony-Gold Operations.
Strategic Expansion
Trigg Minerals Limited has signed binding purchase agreements to acquire two exploration license applications, significantly expanding its Spartan and Taylors Arm Projects in northern New South Wales. The acquisitions include the Spartan West and Taylors Arm East Antimony projects, located in a region renowned for its high-grade antimony deposits.
The combined acquisition cost is $10,000 in cash and $225,000 worth of shares, equating to 4,500,000 TMG shares with a six-month voluntary escrow. These strategic acquisitions enhance Trigg's exposure to highly prospective mineralisation, aligning with the company's vision to capitalize on the growing demand for critical minerals like antimony.
Project Details
The Spartan West project is adjacent to Larvotto Resources Ltd's licenses, which include the Hillgrove Antimony-Gold operation, Australia's largest known antimony deposit. The Taylors Arm Antimony Portfolio includes 87 historical mines, with the new application adding 16 additional workings, highlighting its potential for significant mineralisation.
Recent rock samples from the Bull Creek Mine revealed extremely high-grade antimony mineralisation, with grades of up to 57.9% Sb. The Taylors Arm Portfolio also shows significant gold and silver mineralisation, with notable assay results of up to 24 g/t gold and 840 g/t silver.
Future Prospects
Trigg Minerals plans to advance exploration across the expanded Spartan and Taylors Arm Projects, leveraging their proximity to established operations and known high-grade deposits. The company remains committed to delivering shareholder value through the discovery and development of high-potential critical mineral projects.
The acquisition of these projects positions Trigg Minerals strategically within a region known for its rich antimony deposits, potentially increasing its market share in the critical minerals sector. The growing demand for antimony, particularly in renewable energy and technology sectors, could positively impact Trigg's stock value as these projects advance.
Investor Reaction:
Analysts are likely to view these acquisitions positively, given the strategic location and high-grade mineralisation potential. However, the success of these projects will depend on further exploration and development efforts.
Conclusion:
Investors should keep an eye on Trigg Minerals' exploration progress and any updates regarding these projects. The company's strategic expansion could offer significant opportunities in the growing market for critical minerals.