Felix Gold confirms high-grade antimony discovery at Treasure Creek project
Felix Gold (ASX: FXG) has confirmed the discovery of the high-grade critical mineral stibnite (antimony) from an initial four drill holes at its Treasure Creek project in the Fairbanks gold mining district of Alaska.
The NW Array prospect, which sits within the project area, yielded significant antimony findings including 1.5 metres at more than 5% from 24.4m; 1.5m at more than 5% from 97.5m; 1.5m at 1.14% from 51.8m; and 12.2m at 1.47% from 56.4m.
Other results were 1.5m at more than 5% antimony from 10.7m; 3m at 2.63% antimony from 94.5m; 4.5m at 0.83% antimony from 22.9m; 3m at 2.17% antimony from 32m; and 4.5m at 1% antimony from 61m.
Material intersections
Managing director Anthony Reilly was pleased to confirm the discovery of material intersections of high-grade stibnite.
“Stibnite is a primary antimony mineral associated with the gold system emerging at NW Array… it is listed as a critical mineral to US economic and national security and represents a significant development for us,” he said.
“Our technical team is now assessing the potential scale of this discovery and the additional value that can be added to Treasure Creek via the opportunity to supply a critical mineral to the domestic market.”
Commercial gold resource
As the largest minerals claim owner in the Fairbanks district, Felix is aiming to delineate a commercial gold resource at Treasure Creek which could provide additional ore supply to the Tier 1 Fort Knox project owned by Kinross Gold.
By exploring near-surface and oxide resources, the company hopes to rapidly establish a low capital and operating expenditure open pit development.
The confirmation of antimony in the gold system provides a potential by-product bonus.
Intrusion-related gold systems
Fairbanks and the wider Tintina gold province have many reduced intrusion-related gold (RIRG) systems which include gold and antimony mineralisation.
The Scrafford mine — which sits on Felix’s tenure approximately 2 kilometres east of NW Array — was intermittently operated between 1915 and 1977, recovering approximately 1 million kilograms of stibnite at an average grade of between 38% and 56% antimony.
Testing of samples from the Scrafford mine in 1982 contained up to 3 grams per tonne gold within stibnite-rich vein-fault zones.
Strategic critical mineral
Antimony is a strategic critical mineral used primarily in military applications such as the manufacture of armour piercing bullets, ammunition primers and tracer ammunition.
It is also used to make night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations and nuclear weapons.
Stockpiling of antimony usually occurs when there is uncertainty around a conflict, as has been seen during both world wars, as well as the Korean war and the current Russia-Ukraine conflict.
The second and third largest key uses for antimony are flame retardants and lead-acid batteries.