
September 29, 2024
Trigg Minerals Limited (ASX: TMG) ("Trigg" or the "Company") is pleased to announce it has signed a binding purchase agreement (Sale Agreement) with private company Anchor Resources Pty Limited (Anchor Resources), to acquire the Achilles Antimony Project (Achilles) in northern New South Wales (Figure 1).
HIGHLIGHTS
- Trigg signs purchase agreement to acquire the 100% of the Achilles project which contains the globally significant high-grade and high-tonnage Wild Cattle Creek (WCC) Antimony Deposit.
- The WCC deposit is Australia highest grade undeveloped Antimony deposit and ranks among the highest-grade antimony deposits globally1.
- Significant intersections recorded by historical owners of the project include (refer to Table 2 for full results):
- 10.7m at 14.24% Sb
- 18.7m at 4.5% Sb from including 5.2m at G.8% Sb
- 10.8m at G.28% Sb
- 51.2m at 1.7% Sb including 5.5m at 4.8% Sb
- 22.5m at 3.G% Sb
- 12m at 4.3% Sb
- 10m at 5.1% Sb
- The WCC deposit is the second-largest antimony deposit1 in New South Wales, after Hillgrove, with a resource of 610 kt at 2.56% Sb, containing 15,600 tonnes of antimony. This estimate is based on a high cut-off grade of 1%, reported in accordance with JORC 2012 standards.
- Numerous ultra-high-grade drill intersections grading up to 14.45% Sb have been confirmed beyond the existing JORC resource indicating significant resource upgrades.
- The deposit is enriched from surface and open down plunge hosted by an 6km long largely untested structure.
- Historical metallurgy showed ultra-high antimony recoveries of over 95% are achievable from the WCC deposit through a low-cost conventional milling and flotation technique.
- Trigg post completion will progress further exploration for resource expansion at the WCC deposit while simultaneously advancing it’s 100% owned Taylors Arm antimony project which contains Australia’s highest ever recorded antimony grade at 63% Sb.
- 100% non-cash transaction allows Trigg to preserve its healthy cash balance for value adding exploration.
The Achilles Project hosts the globally significant high grade and high tonnage Wild Cattle Creek antimony deposit, with a JORC 2012-compliant Mineral Resource Estimate (MRE) of 610,000 tonnes at 2.56% Sb, containing 15,600 tonnes of antimony (Indicated and Inferred categories). In addition to antimony, the deposit is enriched with tungsten and gold.
Discovered in the 1890s, the project has historically produced antimony ore during several periods of operation since then, with grades up to 46% Sb reported. Anchor Resources completed the most recent work on the project from 2005 to 2016 when it completed 23 drill holes, two resource estimation studies, orientation soil geochemistry, water and noise monitoring surveys, and sponsored university research into the genesis of the Wild Cattle Creek deposit.
Trigg Minerals Executive Chair Timothy Morrison said, "Acquiring the Achilles Project, including the Wild Cattle Creek antimony deposit, is a significant bolstering of our existing portfolio and provides Trigg Minerals with an advanced project with a JORC resource and plenty of exploration upside in and around the resource. Adding to our recent acquisitions of the Taylors Arms and Spartan antimony projects, we expect Achilles to be our flagship, given its advanced state. This acquisition positions Trigg as a globally significant player in the rush to secure Antinomy supply"
Figure 1: Achilles Antimony Project (EL 6388) - location and tenement with respect to NSW and other recent acquisitions (Taylors Arm and Spartan Antimony Projects) by Trigg.
PROJECT OVERVIEW
The Achilles exploration licence (EL 6388) is 40km west of Coffs Harbour, northeast New South Wales and ~11km north of Dorrigo. The Project contains the Wild Cattle Creek antimony deposit, Australia's second-largest antimony deposit after Hillgrove2 in New South Wales, with the potential for further significant expansion through ongoing exploration.
Geology
The Wild Cattle Creek deposit is in the Coffs Harbour Block of the New England Orogen, within a Late Carboniferous turbidite sequence dominated by siltstone (the Brooklana Beds). These sediments have undergone multiple deformations, regional metamorphism (up to biotite grade), and granitoid intrusions. The block is interpreted as an accretionary prism with subduction-related metamorphism dated at 318 ± 8 Ma. Mineralisation at Wild Cattle Creek is like the nearby Hillgrove antimony-gold deposit, located 80 km to the west-southwest and currently held by Larvotto Resources (ASX: LRV). Wild Cattle Creek is one of approximately 235 antimony occurrences in the New England region of New South Wales.
Click here for the full ASX Release
This article includes content from Trigg Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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The Conversation (0)
10 April
Trigg Minerals
Investor Insight
Trigg Minerals is well-positioned to become a globally significant supplier of antimony, a critical mineral essential to the defense, clean energy and semiconductor sectors. Backed by a strategic focus, a supportive jurisdiction, and timing that aligns with macroeconomic urgency, Trigg is uniquely placed to deliver value from the ground up.
Overview
Trigg Minerals (ASX:TMG,OTCQB:TMGLF) is an emerging leader in the global critical minerals space, focused exclusively on the development of antimony—a metal designated as essential by the United States, Australia and the European Union for its role in national defense, energy transition technologies, and advanced industrial applications. The company’s flagship asset, the Wild Cattle Creek deposit within the Achilles antimony project in New South Wales, is the highest-grade undeveloped antimony resource in Australia and one of the few large-scale, standalone antimony projects globally. As geopolitical and industrial dynamics shift, Trigg Minerals is uniquely positioned to provide a secure, sovereign source of antimony to Western markets, amid a continuing global supply crunch.
In 2024, China—responsible for 83 percent of global production—imposed a complete export ban on antimony products to the US, following earlier restrictions on powdered forms. Combined with sanctions on Russian producers and the depletion of strategic stockpiles across NATO and allied nations, these developments have triggered a severe global supply shortage. Spot prices have surged to over US$51,000 per tonne—more than double their 2023 average—underscoring the urgent need for alternative sources.
Antimony spans a wide range of applications. It is a critical component in flame retardants, semiconductors, night vision optics, military alloys, solar panel coatings, and battery technologies. Demand is accelerating, particularly in the defense and renewable energy sectors, with a projected CAGR of 6.1 percent. However, viable new supply is extremely limited outside of China and its allies, presenting a once-in-a-generation opportunity for companies like Trigg to fill the gap and anchor Western critical mineral supply chains.
Trigg’s growth strategy is built around three key points. First, the company is advancing a high-impact resource expansion program at Wild Cattle Creek, aiming to increase its current JORC-compliant resource of 1.52 million tons (Mt) @ 1.97 percent antimony for 29,902 tonnes contained metal to more than 100,000 tonnes—potentially making it one of the top three antimony deposits in the world. Second, Trigg is capitalizing on the structural shift in global supply chains. With a Tier-1 jurisdiction, ESG-aligned operations, and backing from government incentives, the company is ideally placed to serve downstream processors and strategic buyers, particularly in the U.S. and allied nations seeking to reduce reliance on Chinese-controlled supply. Third, Trigg is maintaining disciplined and focused execution. Over 90 percent of capital and operational resources are allocated to advancing Wild Cattle Creek, ensuring near-term value creation.
Company Highlights
- Trigg Minerals is an ASX-listed company entirely focused on antimony, a critical mineral vital for solar panels, flame retardants, semiconductors and military applications.
- The flagship Achilles project’s Wild Cattle Creek deposit hosts a high-grade JORC resource of 1.52 Mt @ 1.97 percent antimony for ~30,000 tonnes contained antimony—Australia’s highest-grade undeveloped antimony deposit.
- The company’s aggressive expansion plan includes a near-term drilling program targeting a threefold increase in contained antimony to over 100,000 tonnes, positioning Trigg among the top three antimony deposits globally.
- Trigg is attracting growing attention as a potential partner to support Western antimony supply chains amid rising demand and geopolitical tension.
- Operating in New South Wales—a Tier 1 jurisdiction—Trigg benefits from government incentives, including co-investment, exploration support and deferred royalty schemes.
- China controls 83 percent of global antimony production and recently banned exports to the US, creating a strategic opening for Western suppliers like Trigg.
Key Project
Achilles Antimony Project – Wild Cattle Creek Deposit
Trigg Minerals’ flagship asset is the Wild Cattle Creek (WCC) deposit, located within its Achilles antimony project in northern New South Wales. Hosting a JORC 2012-compliant mineral resource of 1.52 Mt @ 1.97 percent antimony for 29,902 tonnes of contained metal, WCC is Australia’s highest-grade undeveloped antimony resource and among the most significant globally. The deposit lies along the Bielsdown Fault, a 6 km underexplored mineralised corridor within the New England Orogen—a prolific metallogenic belt.
Geologically, the deposit is hosted in a steeply dipping, silicified breccia lode bounded by metasedimentary rocks. The high-grade core (>2 percent antimony) extends 350 metres down plunge, is exposed at surface, and maintains an average true width of ~20 metres—ideal for future underground bulk mining. The current mineral resource estimate is conservative, focused on cemented breccia zones, but upcoming drilling will include the broader tungsten-antimony stockwork and disseminated stibnite-bearing mineralisation, potentially widening the mining envelope to more than 15 metres. The system is also enriched in tungsten, mercury and gold, with 30 regional gas and geochemical targets identified. Historic hits such as 1.3 m @ 11.8 percent antimony at the Jezebel prospect underscore the broader potential.
Trigg’s near-term strategy is simple and high-impact: secure land access, initiate an aggressive drilling program, and grow the antimony resource to more than 100,000 tonnes. Drilling contracts are in place, target zones have been defined, and land access negotiations are nearing completion, with execution anticipated in mid-2025. With China’s dominance being actively challenged by the West, Trigg offers timely, scalable exposure to a critical mineral that is scarce in nature and increasingly strategic.
Other Projects
Taylors Arm Antimony Project
Taylors Arm is a high-grade antimony district with more than 80 historic workings across seven known mining camps. Samples have returned grades of more than 50 percent antimony, including 63 percent at the Testers Mine—the highest antimony assay on record in Australia. The project also hosts silver grades more than 840 grams per ton (g/t0 and gold up to 24 g/t, indicating a polymetallic system with strong exploration upside. Trigg is conducting early-stage work to refine targets for follow-up drilling.
Spartan Antimony Project
Located adjacent to the Hillgrove antimony-gold operation (Australia’s largest known antimony deposit), Spartan is strategically situated along the Hillgrove Fault and shares geological characteristics with the adjoining high-grade system. Early exploration has confirmed structural continuity and polymetallic potential, particularly for stibnite-gold veining. Spartan complements Trigg’s core project with near-mine growth opportunities.
New Project Areas – Nundle, Upper Hunter, Cobark/Copeland
Trigg recently secured new exploration tenements across the Nundle, Upper Hunter, and Cobark/Copeland regions, all highly prospective for gold-antimony mineralisation. These projects, located within structurally complex terrains analogous to Achilles, will be progressively advanced as part of Trigg’s long-term project pipeline strategy.
Management Team
Timothy Morrison – Executive Chairman
Tim Morrison is a highly experienced executive in the Australian resource and capital markets sector. With a background in law and investment banking, Morrison has held senior roles in both private and public resource companies, including those focused on critical minerals, base metals, and energy. His leadership at Trigg is defined by a clear strategic focus: unlock value from the Wild Cattle Creek deposit and position the company as a cornerstone in the global antimony supply chain. Morrison brings extensive experience in stakeholder engagement, project financing, and government relations, having previously led funding rounds, IPOs, and major project negotiations across multiple jurisdictions. His vision for Trigg is underpinned by a disciplined growth strategy and sovereign supply positioning.
Jonathan King – Technical Director
Jonathan King is a seasoned geologist with over 20 years of experience in mineral exploration and resource development. He has worked across a broad range of commodities including antimony, gold, copper, and rare earths, and has been instrumental in leading exploration teams across Australia, Southeast Asia and Africa. At Trigg, King is responsible for designing and executing the company’s exploration programs, including the upcoming high-impact drill campaign at Wild Cattle Creek. His technical leadership ensures that resource expansion is driven by rigorous geoscientific methodology, with a focus on unlocking district-scale potential across the broader Achilles project area.
Andre Booyzen – Non-executive Director
Andre Booyzen is an experienced mine operator and leader and has 25+ years of experience in operational, senior and executive roles, and is a specialist in antimony mining. He brings extensive experience in mine development, operational strategy, and off-take agreements. Booyzen previously served vice-president of Mandalay Resources (TSX:MND, OTCQB:MNDJF), where he had full strategic and operational control including product sales, off takes and funding negotiations at the Costerfield gold-antimony mine in Victoria, currently Australia’s only producer of antimony concentrate. Booyzen also served on the board of the Minerals Council of Australia (Victoria) for more than five years and was chairman for three of those.
Bishoy Habib – Non-executive Director
Bishoy Habib holds a Bachelor’s in Applied Science (Software Eng) and has been a global investor for more than a decade, with a particular focus in the resources sector. He is a qualified and experienced leader, with over 15 years’ project delivery and management experience in large multinational organisations. Habib has a strong understanding of the resources sector, with access to a wide-reaching network and project delivery expertise across Africa, the Middle East, Europe and South America.
Nicholas Katris – Non-executive Director and Company Secretary
Nicholas Katris has over 15 years of experience in corporate advisory and public company management, having begun his career as a chartered accountant. He has been actively involved in the financial management of public companies within the mineral and resources sector, holding roles on both the board and executive management teams. His expertise spans the advancement and development of mineral resource assets, as well as business development. Throughout his career, Katris has worked across Australia, Africa, Brazil and Canada, gaining extensive experience in financial reporting, capital raising, and treasury management for resource companies. He currently serves as company secretary for Leeuwin Metals (ASX:LM1) and Perpetual Resources (ASX:PEC).
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Advanced-stage exploration company developing one of the world’s highest-grade undeveloped antimony assets in New South Wales
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