Equinox Resources (ASX:EQN) has reported finding “ultra high grade” antimony on-site its Canadian Alturas project.
Assayed samples flagged on Friday included two just shy of 70%; and several hovering just under 50%. The samples come from pure Stibnite rock; around half a dozen other samples ranged between 10% and 30%.
The company has staked targets of interest across some 3.3sq.km “to the east and west of the property” nearby where the samples were discovered. Geotechs are hoping they can find more antimony along trend.
Originally on the hunt for copper at Alturas – the company’s MD Zac Komur noted a “discovered copper zone” on-site Alturas, a project some 6.3sq.km in size – the company has now discovered some of the “world’s highest reported natural stibnite” grades.
“Rock chip samples have returned grades as high as 69.98% antimony, establishing some of the world’s highest reported natural stibnite grades,” Komur said.
“Considering that pure stibnite contains 71.4% antimony, these findings confirm Alturas as a truly unique and valuable asset.” The company pointed to historical antimony mining on-site Alturas at the same time it highlighted high prices for the critical mineral.
Per Equinox’s sources, antimony metal is currently worth US$36K a tonne. That’s an increase of around a third since the company first acquired the project, which was only in late September.
EQN last traded at 0.6cps.
Join the discussion: See what HotCopper users are saying about Equinox Resources and be part of the conversations that move the markets.
