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Trigg Minerals Limited (ASX: TMG) ("Trigg" or the "Company") is pleased to announce it has signed a binding purchase agreement with Bullseye Gold Pty Ltd to acquire the ultra-high-grade Taylors Arm and Spartan Antimony Projects in northern NSW (Acquisition) (Figure 1).
HIGHLIGHTS
- Trigg signs a binding purchase agreement to acquire 100% of the Spartan and Taylors Arm Antimony projects in northern NSW after completing due diligence. The projects are in the New England Orogen and are considered highly prospective for antimony ± gold mineralisation.
- Taylors Arm Antimony Portfolio features 71 historical workings on granted EL have produced ultra- high-grade antimony. The portfolio includes:
- Swallows Nest Mine – extracted antimony from 1940 to 1955 at a 40% antimony (Sb) concentration and 30% Sb on reopening in 1972. Recent rock samples revealed extremely high-grade antimony mineralisation with grades of 29.8% Sb and 31.4% Sb1.
- Testers Mine – featured massive stibnite veins grading up to 63% Sb, Australia's highest- recorded antimony grade.
- Little Purgatory Mine – stockpile samples produced antimony with grades up to 27.7% Sb.
- Real McKay Mine – recent exploration identified a stibnite-bearing fault breccia hosting high-grade antimony mineralisation, reporting 15.2% Sb and 52.7% Sb.
- Taylors Arm Portfolio contains various other historical workings/prospects with antimony grades up to 20.6% Sb (Walfords Claim), 27.5% Sb (Neil & Taylors Prospect), 18.3% Sb (Bowraville), and 17.7% Sb (Kia Ore Mine).
- Spartan Antimony Project – immediately adjacent to Larvotto Resources' (ASX: LRV) licences containing its Hillgrove Antimony-Gold operation, covering parts of the Hillgrove Fault and the same rocks that host the Hillgrove deposit.
- Antimony prices are trading at all-time highs following China’s export ban on some antimony products from 15 September 2024.
- Antimony is on the Critical Mineral lists of countries, including Australia, the USA, Canada, Japan and the EU2 due to its defence and military applications.
- Trigg has an established exploration team and is funded to commence exploration activities immediately.
Figure 1: Locations of the Taylors Arm and Spartan antimony projects in northern NSW.
The Spartan Project covers parts of the Hillgrove Fault and the same rocks that host the adjacent Hillgrove Antimony-Gold Mining Operations, owned by Larvotto Resources (ASX: LVR).
The Taylors Arm Project includes Swallows Nest, Munga Creek, and Testers Mines, which have recently produced antimony. The latter features massive stibnite veins grading up to 63% Sb (Table 1), Australia's highest-recorded antimony grade.
The projects comprise one granted tenement (EL 9668—Taylors Arm) and one pending tenement application (ELA 6801—Spartan) across 288km2 of the New England Orogen.
Trigg Minerals Executive Chair Timothy Morrison said, "Trigg's acquisition of ultra-high-grade antimony assets in NSW represents a transformative transaction for the Company, significantly enhancing its strategic resource portfolio. The move into the antimony space positions Trigg to capitalise on the growing demand for the critical mineral and strengthens our market presence. We can achieve a strong foundation for future growth and profitability with successful exploration."
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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.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
Click here for the full ASX Release
This article includes content from Alice Queen 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.
