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Jaxon Mining Inc. (TSXV: JAX) (FSE: 0U31) (OTC Pink: JXMNF) ("Jaxon" or the "Company") is pleased to announce the results of a petrographic study confirming the discovery of high-grade antimony mineralization at the Kispiox Mountain Project. Conducted by John G. Payne, Ph.D., P.Geo., of Surrey, B.C, Canada, the study describes the petrography of sampled stibnite mineralization and confirms the discovery of three high-grade stibnite-bearing epithermal zones in the propylitically altered areas above what the Company's model concludes to be another deeper Cu-Ag-Au, Zn-Mo porphyry mineralized system; geologically analogous to Jaxon's Netalzul Mountain and Red Springs porphyry targets.
The discovery of the three zones of massive to disseminated sulfides high-grade antimony epithermal mineralization at the Kispiox Mountain Project was made in 2021. Assay results of the rock samples collected from the outcrops were released March 10, 2022 (Figures 1-2, Table 1).
https://jaxonmining.com/news/2022/jaxon-samples-up-to-29.69-antimony-at-kispiox-mountain/
Antimony is listed on the critical mineral lists published by the governments of USA, Canada, and European Union. According to the United States Geological Survey (https://www.usgs.gov/), in 2022, China accounted for 54.5% of total antimony production, followed by Russia (18.2%) and Tajikistan with (15.5%).
Figure 1. Three Sb sulfide-quartz mineralization zones (KS zones 1, 2 and 3) at Kispiox Mountain Project.
Table 1. Sample Details from Petrographic Study Report of Kispiox Mountain Project
Highlights of Petrographic Study at the Kispiox Mountain Project
- Three petrographic samples (A0027274, A0027275A and A0027275B) from the KS Zone 2 are of massive to disseminated sulfides.
- Sample A0027274 is zoned, with more abundant patches of finer grained quartz with minor sericite and stibnite and less abundant, coarser grained patches of quartz, stibnite, and calcite, with minor pyrite. Two discontinuous proximal veinlets are of stibnite with envelopes of acicular grains of an unknown mineral (A), probably stibnite, in which grains are oriented perpendicular to the veinlet walls (Figures 3-4).
- Sample A0027275 (A) contains a large band in the centre of altered host rock dominated by very fine grained, in part elongate prismatic quartz, with disseminated patches of sericite and scattered patches of calcite, of pyrite, and of stibnite. A small patch is of calcite with a thin rim of sericite. The vein material is of fine to medium grained quartz and stibnite, with quartz commonly having euhedral terminations against stibnite (Figure 5).
- Sample A00275275 (B) contains scattered patches up to a few mm across of altered host rock (hornfels) consisting of one or more quartz, sericite, and calcite. These are contained in a vein that is dominated by quartz with abundant stibnite along one side of the section (Figure 6).
The petrographic study shows the mineralization at Kispiox Mountain is dominated by quartz-stibnite veins with lesser amounts of carbonate minerals (calcite) and minor amounts of pyrite with very strong siliceous and phyllic alteration.
Mineral Exploration Tax Credits
The Company is pleased to announce that in February 2023 it received its British Columbia Mineral Exploration Tax Credit ("BCMETC") in the amount of CAD$741,890.96, generated from qualified exploration incurred in 2021. The BCMETC is calculated as 20% of qualified mining exploration expenses incurred in BC by eligible corporations, with an enhanced rate of 30% available for qualified mineral exploration undertaken in prescribed Mountain Pine Beetle affected areas. The BCMETC reduced Jaxon's qualified exploration costs by the amount of the credit.
The Critical Mineral Exploration Tax Credit ("CMETC") is a new 30% investment tax credit available to investors. The credit would apply to specified exploration expenditures renounced to investors under eligible flow through share agreements. The CMETC doubles the 15% non-refundable tax credit previously available to investors under the existing Mineral Exploration Tax Credit ("METC"). The CMETC applies to 15 critical minerals, including copper and zinc. The predominance of copper and zinc in the porphyry systems which Jaxon is targeting at the Hazelton Property should qualify the Company to raise funds under the new CMETC requirements. The CMETC will be a valuable tool in assisting the Company in raising funds to support continued exploration and planned confirmation drilling programs at the Kispiox Mountain, Netalzul Mountain and Red Springs projects on the Hazelton Property.
Mr. John King Burns, CEO of Jaxon Mining, commented, "The Company wishes to thank Dr. Payne for his petrographic report. This study is part of Jaxon's systematic approach to exploration in advance of confirmation drilling. The petrologic results, together with the geological mapping, soil geochemistry and magnetic survey results, already in hand, will be used to design a backpack and portable rig drilling program."
"These high-grade antimony results confirm the pervasive nature of mineralization at Kispiox Mountain. Given what we know, we may have discovered what is potentially the largest, high-grade, pure antimony deposit in North America sitting on top our third major porphyry target. A further systematic soil and sulfide rock outcrop channel sampling program followed by backpack and portable rig drilling are planned for the summer of 2023. The elevated values of Cu, Mo, Pb. Zn, and As elements in the strongly oxidized hornfels suggest a potential genetic relation between the epithermal stibnite mineralization and a deep porphyry system at Kispiox Mountain."
Figure 2. Chip samples taken from across six metres at KS zone 2 outcrop at Kispiox Mountain Project.
Figure 3. Thin section of sample A0027274, intergrowth of quartz, stibnite (showing strong anisotropism), calcite, minor sericite, and a patch of pyrite; numerous cavities.
Figure 4. Thin section of sample A0027274, aggregate of quartz with a few patches containing minor to accessory sericite, disseminated patches of stibnite; veinlet of stibnite with envelope containing abundant acicular grains of an unknown mineral (A; probably stibnite) oriented subperpendicularly to the veinlet.
Figure 5. A0027275A, altered host rock/early vein: quartz with disseminated patches of sericite, single grains and a cluster of pyrite, and a patch of calcite-(limonite) that was moderately lost from the section due to plucking; coarser grained zone of quartz at the bottom is the edge of the vein (reformatted).
Figure 6. Intergrowth of stibnite (showing anisotropism) and quartz, with minor calcite.
About Kispiox Mountain Project
Location
The Kispiox Mountain project is located approximately 16 km northwest of New Hazelton, BC, and 70 km northwest of Smithers, BC. It is one of seven projects 100% owned by Jaxon Mining Inc.
Figure 7. Map of the Hazelton Property, near Smithers, British Columbia
Historical Works
Limited historical work has been carried out at the Kispiox project area. Only one Minfile showing ("Date") is recorded on the Kispiox project area.
The Date showing is located on the southeast flank of Kispiox Mountain, 19 kilometers northwest of Hazelton. The area is underlain by sedimentary rocks of Late Jurassic Bowser Lake Group, which intruded by small granodiorite body of the Late Cretaceous Bulkley Intrusions. Noranda Exploration Company Limited carried out exploration activities on the Date showing area due to anomalous molybdenum contents in silt samples and trace chalcopyrite observed in the field. During July 1981 and 1983, Noranda Exploration Company Limited conducted geological and geochemical surveys on the Date showing area. 195 soil samples and 6 rock samples were collected and analyzed in 1981, and 18 rock samples were collected and assayed in 1983. Anomalous Au, Ag, Cu, Mo, Pb, and Zn were found in various rock and soil samples. Due to the rugged nature of the terrain, the exploration work was of a limited extent (P. McCarter, 1981 and Delbert Myers, 1983).
There has been no previous trenching and drilling sampling at the Kispiox area.
Geology
The Kispiox project is underlain by a series of sedimentary strata of the Late Jurassic Bowser Lake Group and Lower Cretaceous Kitsuns Creek Formation of Skeena Group, which have been intruded by numerous Late Cretaceous porphyritic intrusions of Bulkley Plutonic Suite.
Mineralization
The associated quartz-sulfide veins are centered on the area of most abundant intrusive rocks, and the veins are most prevalent along the margins of the intrusions and sheared contact zones (P. McCarter, 1981). A great amount of stibnite was observed in the veins, and trace amount of very fine-grained chalcopyrite and molybdenite were also noticed within and adjacent to the veins. The sulfides are mostly fine-grained and disseminated in the veins. Pyrite is common on the quartz veins, and as fracture coating in the hornfels.
Taking into consideration the widespread rusty pyritic zone, intrusive dikes and plugs, mineralized quartz veins, and anomalous Cu, Mo, Sb values, a porphyry-epithermal Sb-Cu-Mo system is interpreted to exists at the Kispiox project.
Sample Preparation and Analyses
Chip and prospecting samples were collected in the field by experienced, professional prospectors and geological staff who selected hand samples from outcrops, chip samples, boulder, and talus debris samples suitable for slabbing by rock saw. The samples were numbered, described, and located in the field for follow-up. Numbered rock samples tags were placed inside each bag, securely closed for transport to the Company's secure cold storage locked facility in Smithers, B.C. Representative sample slabs were cut from large specimens and halved rock samples so that portions of select samples could be saved for the Company's rock library, descriptive purposes, and petrographic study. MS Analytical of Langley, B.C. received the Rice Bag shipments after secure transport from Smithers. Samples were prepared by crushing, grinding, and pulverizing to a pulp with barren material washing between each sample at the crush and pulverizing stages. Then 20 g of pulp was used for the (IMS-117 code) ultra-trace level ICP/MS AR digestion method, and four acid 0.2 g ore grade ICP - AES method (ICP-240) and for the overlimit gold the FAS-415 method of 30 g fusion Gravimetric method was used to report gold ASSAYS. Overlimit silver is determined by Fire ASSAY 415 method. Laboratory standards and QA-QC is monitored by the Company.
Qualified Person
Yingting (Tony) Guo, P.Geo., President and Chief Geologist of Jaxon Mining Inc., a Qualified Person as defined by National Instrument 43-101, has reviewed and prepared the scientific and technical information and verified the data supporting such scientific and technical information contained in this news release.
About Jaxon Mining Inc.
Jaxon pursues the discoveries of deeper, under cover, commercial scale and high-grade Cu, Au, Ag, polymetallic porphyry epithermal systems. Jaxon has seven large-scale porphyry system targets on its 100% controlled Hazelton property, an interconnected network of concessions spanning ~730 km2 in the Skeena Arch in northwest British Columbia, Canada. The Company's flagship projects Netalzul Mountain and Red Springs are drill ready. The Kispiox Mountain and Blunt Mountain projects both host extensive and high-grade occurrences of antimony, a strategic and critical metal as designated by the governments of Canada and United States.
ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINING INC.
"John King Burns"
John King Burns, Chairman
For more information, please contact:
Investor Relations
Kaye Wynn Consulting
T: 604-558-2630
TF: 1-888-280-8128
E: info@kayewynn.com
Corporate & Investor Relations
T: 604-424-4488
E: info@jaxonmining.com
www.jaxonmining.com
This news release may contain forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties, and other factors that could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include but is not limited to, the Company's objectives, goals, or plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. No assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
JAX:CC
What Was the Highest Price for Copper?
Why is copper so expensive in 2025? Higher copper prices over the past few years have largely been attributed to a widening supply/demand gap. The already tenuous copper supply picture was made worse by COVID-19 lockdowns, and as the world's largest economies seemingly began to emerge from the pandemic, demand for the metal picked up once again. Copper mining and refining activities simply haven’t kept up with the rebound in economic activity.
Now, global copper mine supply is tightening at a time when US President Donald Trump's tariffs are placing further strains on copper supply. In response, a new copper all time high was reached in July 2025. But what was the highest price for copper? The Investing News Network (INN) will answer that question, but first let’s take a deeper look at what factors drove the price of copper higher, as well as historical movements in the price of copper.
In this article
What key factors drive the price of copper?
Robust demand has long been one of the strongest factors driving copper prices. The ever-growing number of copper uses in everyday life — from building construction and electrical grids to electronic products and home appliances — make it the world’s third most-consumed metal.
Copper’s anti-corrosive and highly conductive properties are why it’s the go-to metal for the construction industry, and it's used in products such as copper pipes and copper wiring. In fact, construction is responsible for nearly half of global copper consumption. Rising demand for new homes and home renovations in both Asian and Western economies is expected to support copper prices in the long term.
In recent decades, copper price spikes have been strongly tied to rising demand from China as the economic powerhouse injects government-backed funding into new housing and infrastructure. Industrial production and construction activity in the Asian nation have been like rocket fuel for copper prices.
Additionally, copper’s conductive properties are increasingly being sought after for use in renewable energy applications, including thermal, hydro, wind and solar energy.
However, the biggest driver of copper consumption in the renewable energy sector is rising global demand for electric vehicles (EVs), EV charging infrastructure and energy storage applications. As governments push forward with transportation network electrification and energy storage initiatives as a means to combat climate change, copper demand from this segment is expected to surge.
New energy vehicles use significantly more copper than internal combustion engine vehicles, which only contain about 22 kilograms of copper. In comparison, hybrid EVs use an average of 40 kilograms, plug-in hybrid EVs use 55 kilograms, battery EVs use 80 kilograms and battery electric buses use 253 kilograms.
In 2024, EV sales worldwide increased by 25 percent over 2023 to come in at about 17.1 million units, and analysts at Rho Motion expect that trend to continue in the coming years despite some headwinds in the near-term. Already in the first five months of 2025, EV sales were up 28 percent over the same period in the previous year.
On the supply side of the copper market, the world’s largest copper mines are facing depleting high-grade copper resources, while over the last decade or more new copper discoveries have become few and far between.
The pandemic made the situation worse as mining activities in several top copper-producing countries faced work stoppages and copper companies delayed investments in further exploration and development — a challenging problem considering it can take as many as 10 to 20 years to move a project from discovery to production. In addition, delayed investments amid the pandemic will also have long-term repercussions for copper supply.
There have also been ongoing production issues at major copper mines, most notably the shutdown in late 2023 of First Quantum Minerals' (TSX:FM,OTC Pink:FQVLF) Cobre Panama mine, which accounted for about 350,000 MT of the world's annual copper production.
The International Energy Agency (IEA) is forecasting a 30 percent shortfall in the amount of copper needed to meet demand by 2035. “This will be a major challenge. It’s time to sound the alarm,” IEA Executive Director Fatih Birol said.
The supply shortage has increased the need for end users to turn to the copper scrap market to make up for the supply shortage. Sometimes referred to as “the world’s largest copper mine,” recycled copper scrap contributes significantly to supplying and balancing the copper market.
Eleni Joannides, Wood Mackenzie's research director for copper, told INN by email at the end of Q4 2024 that there is recognition of the underinvestment in copper exploration, but she sees a new dawn emerging for the sector.
“We are seeing signs this could change. Much of the growth over the last five years has come from brownfield expansions rather than greenfield/new discoveries," she said. "Technology will likely help increase the chance of discovery, and broadly I would say that policymakers are now more supportive of mineral exploration as the push to secure critical raw materials supply has moved up the agenda."
Joannides offered some examples of greenfield projects in the pipeline: Capstone Copper’s (TSX:CS,OTC Pink:CSCCF) Santo Domingo in Chile, Southern Copper’s (NYSE:SCCO) Tia Maria in Peru and Teck Resources' (TSX:TECK.A,TECK.B,NYSE:TECK) Zafranal in Peru.
How has the copper price moved historically?
Taking a look back at historical price action, the copper price has had a wild ride for more than two decades.
Sitting at US$1.38 per pound in late January 2005, the copper price followed global economic growth up to a high of US$3.91 in April 2008. Of course, the global economic crisis of 2008 soon led to a copper crash that left the metal at only US$1.29 by the end of year.
Once the global economy began to recover in 2011, copper prices posted a new record high of US$4.58 per pound at the start of the year. However, this high was short-lived as the copper price began a five year downward trend, bottoming out at around US$1.95 in early 2016.
Copper prices stayed fairly flat over the next four years, moving in a range of US$2.50 to US$3 per pound.
20 year copper price performance.
Chart via Macrotrends.
The pandemic’s impact on mine supply and refined copper in 2020 pushed prices higher despite the economic slowdown. The copper price climbed from a low of US$2.17 in March to close out the year at US$3.52.
In 2021, signs of economic recovery and supercharged interest in EVs and renewable energy pushed the price of copper to rally higher and higher. Copper topped US$4.90 per pound for the first time ever on May 10, 2021, before falling back to close at US$4.76.
Also affecting the copper price at that time was expectations for higher copper demand amid supply concerns out of two of the world’s major copper producers: Chile and Peru. In late April 2021, port workers in Chile called for a strike, while in Peru presidential candidate Pedro Castillo proposed nationalizing mining and redrafting the country’s constitution.
In early May 2021, news broke that copper inventories were at their lowest point in 15 years. Expert market watchers such as Bank of America commodity strategist Michael Widmer warned that further inventory declines into 2022 could lead to a copper market deficit.
After climbing to start 2022 at US$4.52, the copper price continued to spike on economic recovery expectations and supply shortages to reach US$5.02 per pound on March 6. Throughout the first quarter, fears of supply chain disruptions and historically low stockpiles amid rising copper demand drove prices higher.
However, copper prices pulled back in mid-2022 on worries that further COVID-19 lockdowns in China, as well as a growing mortgage crisis, would slow down construction and infrastructure activity in the Asian nation. Rising inflation and interest hikes by the Fed also placed downward pressure on a wide basket of commodities, including copper. By late July 2022, copper prices were trading down at nearly a two year low of around US$3.30.
In the early months of 2023 the copper price was trading over the US$4 per pound level after receiving a helpful boost from continuing concerns about low copper inventories, signs of rebounding demand from China, and news about the closure of Peru's Las Bambas mine, which accounts for 2 percent of global copper production.
However, that boost turned to a bust in the second half of 2023 as China continued to experience real estate sector issues, alongside the economic woes of the rest of the world. The price of copper dropped to a low for the year of US$3.56 per pound in mid October.
Elevated supply levels kept copper trading in the US$3.50 to US$3.80 range for much of Q1 2024 before experiencing strong gains that pushed the price of the red metal to US$4.12 on March 18.
Those gains were attributed to in part to tighter copper concentrate supply following the closure of First Quantum Minerals' Cobre Panama mine, guidance cuts from Anglo American (LSE:AAL,OTCQX:AAUKF) and declining production at Chile’s Chuquicamata mine. In addition, China’s top copper smelters announced production cuts after limited supply led to lower profits from treatment and refining charges.
BHP's (ASX:BHP,NYSE:BHP,LSE:BHP) attempted takeover of Anglo American also stoked fears of even tighter global copper mine supply. These supply-side challenges continued to juice copper prices in Q2 2024, causing a jump of nearly 29 percent from US$4.04 per pound on April 1 to a then all-time high of US$5.20 by May 20, 2024.
What was the highest price for copper ever?
The price of copper reached its highest recorded price of US$5.959 per pound, or US$13,137.75 per metric ton, on July 24, 2025. It hit this peak during intra-day trading before closing the day at US$5.88. The red metal’s price surged more than 17 percent since the start of July to its new all time high. Read on to found out how the copper price reached those heights.
Why did the copper price hit an all-time high in 2025?
After starting 2025 at US$3.99 per pound, copper prices were lifted in Q1 by increasing demand from China’s economic stimulus measures, renewable energy and artificial intelligence (AI) technologies and stockpiling brought on by fear of US President Trump’s tariff threats.
At the time, Trump had said the US was considering placing tariffs of up to 25 percent on all copper imports in a bid to spark increased domestic production of the base metal.
In late February, he signed an executive order instructing the US Commerce Department to investigate whether imported copper poses a national security risk under Section 232 of the Trade Expansion Act of 1962. The price of copper reached a new high price of US$5.24 per pound on March 26 as tariff tensions escalated.
Trump's tariff talk sparked yet another copper price rally to set its new record high price in early July when he announced he plans to impose a 50 percent tariff on all imports of the red metal, and it moved higher towards the end of the month in anticipation of them entering effect.
However, copper's price plummeted from its heights on July 31 following the reveal that tariffs would not be imposed on imports of raw or refined copper, instead targeting semi-finished copper products.
Looking at the bigger picture, copper’s rally in recent years has encouraged bullish sentiment on prices looking ahead. In the longer term, the fundamentals for copper are expected to get tighter as demand increases from sectors such as EVs and energy storage. A May 2024 report from the International Energy Forum (IEF) projects that as many as 194 new copper mines may need to come online by 2050 to support massive demand from the global energy transition.
Looking over to renewable energy, according to the Copper Development Association, solar installations require about 5.5 MT of copper for every megawatt, while onshore wind turbines require 3.52 MT of copper and offshore wind turbines require 9.56 MT of copper.
The rise of AI technology is also bolstering the demand outlook for copper. Commodities trader Trafigura has said AI-driven data centers could add one million MT to copper demand by 2030, reports Reuters.
Where can investors look for copper opportunities?
Copper market fundamentals suggest a return to a bull market cycle for the red metal in the medium-term. The copper supply/demand imbalance also presents an investment opportunity for those interested in copper-mining stocks.
Are there any copper companies on your radar? If you’re looking for some inspiration, head on over to INN's articles on the top copper stocks on the TSX and TSXV, the biggest copper stocks on the ASX, and our list of 27 advanced US copper projects to watch.
If you're looking to diversify your portfolio with other investment options, check out copper ETFS and ETNs or copper futures contracts. Investor and author Gianni Kovacevic told INN in a December 2024 interview that one of the ways he is playing copper under Trump's second term is with copper stocks such as Coppernico Metals (TSX:COPR), Entree Resources (TSX:ETG,OTCQB:ERLFF) and Horizon Copper (TSXV:HCU,OTCQX:HNCUF).
This is an updated version of an article first published by the Investing News Network in 2021.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
