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Trigg Minerals (ASX:TMG,OTCQB:TMGLF) is an emerging force in the global critical minerals sector, dedicated exclusively to the development of antimony—an essential metal recognized by the United States, Australia, and the European Union for its critical role in national security, energy transition technologies, and advanced manufacturing.
The company’s flagship Wild Cattle Creek deposit, part of 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 worldwide. As global supply chains recalibrate and geopolitical tensions mount, Trigg Minerals is strategically positioned to deliver a secure, sovereign supply of antimony to Western markets amid a deepening global shortfall.
The company is advancing an aggressive drilling and resource growth program at Wild Cattle Creek, targeting an increase from its current JORC-compliant resource of 1.52 Mt @ 1.97 percent antimony (29,902 tonnes contained metal) to over 100,000 tonnes—potentially placing it among the world’s top three antimony deposits.
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.
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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).
Advanced-stage exploration company developing one of the world’s highest-grade undeveloped antimony assets in New South Wales
LaFleur Minerals
Investor Insight
With a strategic asset base in the prolific Abitibi Gold Belt near Val d’Or, and a fully permitted gold mill facility, LaFleur Minerals is well-positioned for near-term production and long-term growth.
Overview
LaFleur Minerals (CSE:LFLR,OTCQB:LFLRF) is a growth-focused gold exploration and development company with assets in Québec’s Abitibi Gold Belt, one of the most prolific gold regions globally. The company is focused on the production restart at Beacon Mill in parallel to advancing key exploration programs at its Swanson gold project, a well-located, resource-rich deposit with strong growth potential.
LaFleur Minerals boasts a favourable entry point with a market cap yet to reflect the company’s asset base, as well as solid fundamentals with strong growth catalysts and significant upside potential from a near-term producing gold mill with low restart cost.
Company Highlights
- Focused on developing high-potential gold projects in the Abitibi Gold Belt in Québec, a top-tier mining jurisdiction with strong government support and flow-through financing incentives, and Canada’s largest gold producing region.
- Successfully assembled over 150 square kilometers of mineral claims and a mining lease, anchored by the Swanson gold deposit and complemented by recent acquisitions from Abcourt Mines.
- The Swanson gold project hosts an NI 43-101-compliant mineral resource of 123 koz indicated and 64 koz inferred, with significant exploration upside.
- LaFleur owns the fully permitted and refurbished 750 tpd Beacon Gold Mill, which previously underwent ~$20 million in upgrades, providing a clear pathway to near-term gold production from Swanson and other potential regional sources.
- The company has launched an extensive exploration program, including geophysics, geochemistry and a planned 10,000-meter drill campaign for 2025, targeting a resource expansion to over 1 Moz.
- LaFleur Minerals has commenced its diamond drilling program at its Swanson Gold Project after receiving all the necessary permits, including the Authorization to Intervene (ATI) and the Forestry Intervention permits.
- Led by CEO Paul Ténière, a highly experienced geologist and mining executive, supported by a team with extensive expertise in gold exploration, project development and corporate finance.
Key Projects
Swanson Gold Project - Flagship Asset
The Swanson gold project is located in Québec, Canada, rated as the fifth top jurisdiction in the world for mining investment (Fraser Institute’s 2023 annual survey), offering a stable and supportive environment for resource development with easy access to flow through capital. The Swanson gold project has had in excess of 36,000 metres of historical drilling, which underscores the advanced exploration and development potential of the project, which includes several favourable gold bearing regional structures and deformation corridors extending across the property.
Project Highlights:
- +16,600 hectares (166 sq km) and rich in gold and critical metals, hosts the Swanson, Bartec and Jolin gold deposits
- Previously held by Monarch Mining, Abcourt Mines and Globex
- Accessible by road/rail, 66 km north of Val-d’Or on the Southend Abitibi gold belt, close proximity to established producers such as Agnico Eagle and Eldorado, as well as developers like Probe Gold and O3 Mining, with direct access to several nearby gold mills
- Mineral resource estimate reinforces status as flagship project:
- Indicated mineral resource estimate of 2,113,000 t with avg grade of 1.8 g/t gold, containing 123,400 oz of gold.
- Inf. Mineral Resource Estimate of 872,000 t with avg grade of 2.3 g/t gold, containing 64,500 oz of gold
- The project’s current MRE was optimized with a price of gold at US$1,850/oz, current gold market price has hit above US$3,000/oz
- $3 million in flow-through to deploy with immediate plans to increase gold resources through diamond drilling at Swanson, Bartec, Jolin, and other gold deposits, and up to 10,000 metres of drilling expected to commence by mid-2025
- Other key developments include a decline portal and ramp extending to a depth of 80 metres; well positioned for advanced exploration with over $5 million invested by the previous owner between 2021 and 2023
- Since acquiring the Swanson deposit and consolidating the large claims package, the company has deployed in excess of $1 million in flow-through funds, completed detailed soil geochemistry and prospecting across several gold targets, completed a very-high resolution airborne magnetic and VLF-EM geophysical survey, and is currently in the process of completing a ground IP survey over the Swanson, Jolin, and Bartec gold deposits
- Several new promising gold targets have been identified from the recent surface exploration and geophysics programs, highlighting the potential for mineral resource growth and new discoveries at Swanson
2025 Drill Program:
LaFleur Minerals has commenced its diamond drilling program at the Swanson Gold Project following receipt of all necessary permits, including the Authorization to Intervene (ATI) and Forestry Intervention permits.
The company also completed an independent valuation of its Beacon Gold Mill by Bumigeme Inc., confirming the mill is in excellent condition, with rehabilitation costs estimated at C$4.1 million and a full replacement value exceeding C$71.5 million—underscoring its strategic importance.
LaFleur has expanded its Swanson land package to over 18,300 hectares across 445 claims and one mining lease, reinforcing its district-scale potential.
With advanced assets and infrastructure in place, LaFleur Minerals is well-positioned as a leading gold development company in Québec.
Beacon Gold Mill - Near-term Production
The Beacon Gold Mill is a strategically positioned, fully permitted 750 tpd processing facility located less than 50 km from Swanson. Originally acquired through the Monarch Mining CCAA process, the mill underwent a $20 million refurbishment in 2022 and remains in excellent condition. LaFleur’s strategic location on the mineral rich Abitibi Greenstone Belt is key to its plans to restart gold production as its positioned in a prime area with over 100 historical and operational mines, allowing for rapid monetization of ore from nearby gold deposits.
Project Highlights:
- Low restart cost with processing capacity of over 750 tonnes per day, targeting production of up to 30,000 oz of gold per year. At US$2900/oz, the projected potential revenue is ~$100 million
- Capable of custom milling operations for other nearby gold projects
- Currently being evaluated for processing mineralized material from Swanson as part of a high-level preliminary mining and economic study
- Past-producing Beacon Mine is located on the site of the Beacon Mill: the property consists of a mining lease, a mining concession, and 11 mining claims
- Beacon I and II mines include mineralized zones where limited historical gold production was achieved during the period of 1984 to 1988 and again in 2005
- The advancement of operations at the Beacon Mill has transformational qualities for the company, evolving it from explorer to a near term gold producer in a Tier 1 jurisdiction with significant upside potential
- The restart of production at the Beacon Mill to process bulk samples and/or for custom milling purposes is targeted for before 2025 year end, or once all required restart work has been completed and final approvals have been received by the Québec government, meanwhile equipment inspections, parts inventory, and maintenance work continues on a full-time basis at the company's Beacon Gold Mill as part of its restart program including a final plan and budget to restart the mill to be completed by ABF Mines by late April once final inspections are complete
Management Team
Kal Malhi – Chairman
A successful entrepreneur and the founder of Bullrun Capital, Kal Malhi has raised over $300 million for various public and private companies across multiple industries, including mining, biotechnology and technology.
Paul Ténière – CEO
Paul Ténière has more than 20 years of experience in mine development, geology and project management. He has held senior leadership roles across multiple mining companies and is a recognized expert in NI 43-101 compliance and technical reporting.
Harry Nijjar – CFO and Corporate Secretary
Harry Nijjar is currently a managing director with Malaspina Consultants and provides CFO and strategic financial advisory services to his clients across many industries. This experience has allowed him to help his clients successfully navigate regulatory and financial environments within which they operate. Harry holds a CPA CMA designation from the Chartered Professional Accountants of British Columbia and a BComm from the University of British Columbia
Louis Martin – Technical Advisor and Exploration Manager
Louis Martin is a professional geoscientist. and has been a major contributor to the discovery of several gold and base metal deposits during his more than 40-year career. Martin has been fortunate to be part of the exploration teams that were awarded the Discovery of the Year by the AEMQ for the West Ansil Deposit (2005) and the Louvicourt Deposit (1989). He has worked on several advanced exploration projects that included bringing four of these projects into production. For the last eight years, Martin has worked as a technical advisor and geological consultant for numerous junior and major mining companies.
Preet Gill – Director
Preet Gill is a business professional offering leading development and implementation of superior business strategy. Gill has a proven track record of identifying and creating profitable business opportunities, qualifying authentic prospects, and cultivating strong partnerships. She has over 28 years of experience in leadership roles within Home Depot Canada and has an MBA from Royal Roads University and certificates in business leadership from Queen’s University.
Harveer Sidhu – Director
Harveer Sidhu is the founder of BuildSmartr.com and has served as a director, officer and audit committee member for publicly listed companies. Sidhu is experienced in manufacturing, import and exporting, information technology systems, e-commerce and construction project management. He is also the president and director of Beyond Medical Technologies. He holds a bachelor’s degree from Simon Fraser University and has been a licensed builder with BC Housing since 2014.
Michael Kelly – Director
Michael Kelly is a former member of the Canadian Armed Forces Military Police and a retired member of the Royal Canadian Mounted Police. Kelly currently serves as a Partner at BullRun Capital Inc. and is a respected businessman based in Kelowna, British Columbia. He is also a director and member of the audit committee of Beyond Medical Technologies, an industrial/technology company with a manufacturing facility located in Delta, British Columbia.
Jean Lafleur – Senior Advisor
A highly respected geologist with over 40 years of experience in the mining sector, Jean Lafleur has led multiple exploration programs and mining projects, contributing to major gold discoveries worldwide.
OPINION — Goldenomics 101: Follow the Money
By Darren Brady Nelson
As an economist, I, perhaps somewhat sadly, have many economist friends. One of them recently alerted me to a post on X that was even a shock to me in the toxic 2020s. That being: “Almost all political donations by Fed employees go to one party. The Fed is already politicized.”
The post had a link to the data supporting this assertion, which was published at OpenSecrets. They are a “501(c)3” devoted to: “tracking money in US politics and its effect on elections and public policy.” Their theme is appropriately “Follow the Money,” as it is for this story.
Political money contributions, since 2016, from those at the Fed, range between 92 to 93 percent for Democrats and 8 to 9 percent for Republicans. As Public Choice economics teaches, it is crucial to “Follow the Money” in politics. Austrian and Chicago schools of economics teach the same for gold.
Gold pricing 101
Gold pricing is often characterized as being driven by “fear and uncertainty,” at least in the short run, including geopolitical fears like war and economic uncertainties such as recession. It is also typically recognized to be an “inflation hedge,” in the long run anyway.
Gold is an asset with a price determined in a 24/7/365 global auction, most often quoted per troy ounce, in the world’s reserve currency of US dollars. New supply plays an unusually small role compared to almost all other commodities, goods or services. Thus, highest bid wins.
Perhaps none of these things about gold, and its price, are new nor surprising. But what might be, despite the end of the gold standard in 1971 and legalization of gold investment in 1974, is that gold is still a shadow currency to fiat ones, especially US dollar, in the "always run."
The annual gold price from 1960 to 2024 is displayed below, as sourced from the World Bank. Rises include: late 1970s; late 2000s; and mid 2020s. Slides include: early 1980s; late 1990s; and early 2010s. Overall growth was: Sum 555 percent; Ave 8.7 percent; Max 98 percent; Min -24 percent; and CAGR 6.8 percent.
Money supply 101
Gold is the inflation hedge, precisely because it is shadow currency. Money supply is the inflation source, precisely because it is fiat currency. As Chicago economist Milton Friedman wrote in Money Mischief (1994): “In the modern world, inflation is a printing-press phenomenon.”
There are multiple money supply measures, such as M0, M1, M2 and M3. M1 includes paper and coin currency held by the general public as well as liquid bank deposits (e.g. checking accounts). M3 includes M1, plus less liquid bank deposits (e.g. savings accounts) as well as “repos.”
Austrian economist Robert Murphy details in Understanding Money Mechanics (2021) just how the Fed’s printing, Treasury bonds and bank loans create US money supply, through open market operations. Since 2008 and 2020, the Fed has expanded to buying and selling just about anything.
Speaking on behalf of the Fed, and all major central banks, the Bank of England wrote in Money Creation in the Modern Economy (2014): “(B)ank lending creates deposits. At that moment, new money is created. (This is) ‘fountain pen money,’ created at the stroke of bankers’ pens(.)”
Annual M1 and M3 money supply from 1960 to 2024 are displayed below, as sourced from the OECD. M3 starts to take off from the mid 1990s. Both blast off in the early 2020s, M1 in part due to redefinition. Combined growth was: Sum 533 percent; Ave 8.3 percent; Max 126 percent; Min -6.4 percent; and CAGR 7.4 percent.
Gold inflation 101
Christian economist Gary North points out in Honest Money (2011) that businesses have three choices in the face of money inflation: A) profit deflation; B) price inflation; C) quality shrinkflation. Investors have a fourth: D) gold inflation. A, B, and C are all bad options. D is good.
The chart below shows cumulative annual growth of gold versus M1 and M3. Gold performs and protects against both M1 and M3 from 1974 to 2019, even in 2001, but not against M1 from 2020 to 2024. In 2019, gold had a 150 percent lead on M1 and 92 percent on M3. By 2022, it shrunk to -110 percent and 80 percent.
Cumulative yearly growth (percent).
Sources: OECD and World Bank.
A 2020 regression study found: “When the Federal Reserve increases money supply by 1%, gold prices increase by 0.94%.” A 2023 academic paper: “Confirms a long-term relationship between gold price and US M2.” Note that M1’s 2021 redefinition has now made it nearly identical to M1.
Period yearly change (percent).
Sources: OECD and World Bank.
However, the authors of Austrian School for Investors (2015) wrote: “Gold does not correlate with the rate of inflation as such, but with the rate of change of the inflation rate. In order to buttress this hypothesis, we calculated the regression depicted in (the chart below).”
Source: Austrian School for Investors: Austrian Investing between Inflation and Deflation.
In conclusion, as per my Wokenomics 101 (2023) ghost blog, money inflation by: “increasing demand puts upward pressure on price and quantity and downward pressure on quality.” That puts upward pressure on: nominal CPI and GDP statistics; as well as real gold investment and price.
Inflation doesn’t harm all. It helps some. They are the “Bootleggers and Baptists,” as Public Choice economist Bruce Yandle dubbed them in 1983. Bootleggers are crony capitalists, politicians and bureaucrats whose inflated revenue outpaces costs. Baptists are the “useful idiots.”
Thus, “Follow the Money” back to the “inflationistas” of: Big Business; Big Government; and Big Banks. All gain supernormal profits from easy money: one, making more money; two, collecting more money; and three, creating more money. Also, “Follow the Money” when it comes to gold.
And, sadly, there is one policy that is always bipartisan; print more money. But, gladly, gold will always win.
About Darren Brady Nelson
Darren Brady Nelson is chief economist with Fisher Liberty Gold and policy advisor to The Heartland Institute. He previously was economic advisor to Australian Senator Malcolm Roberts. He authored the Ten Principles of Regulation and Reform, and the CPI-X approach to budget cuts.
Pacgold: Advancing the Alice River Gold Project in Northern Queensland with Tier 1 Discovery Potential
Pacgold (ASX:PGO) is an Australian gold exploration company advancing the high-potential Alice River Gold Project in Northern Queensland. Led by a technically driven and experienced team with proven success across exploration, resource development, and capital markets, Pacgold is applying a systematic, discovery-focused approach to unlock the project’s value.
The company holds a dominant 377 sq km land package, including eight mining leases, along the highly prospective Alice River Fault Zone (ARFZ) — a major structural corridor interpreted to host an intrusion-related gold system analogous to globally significant deposits such as Fort Knox (USA) and Hemi (WA).
The Alice River Gold Project is a large-scale, greenstone-hosted gold system located in Northern Queensland, centered along the regionally significant Alice River Fault Zone (ARFZ). The project covers 377 sq km of contiguous tenure, including eight granted mining leases.
Pacgold controls over 30 km of strike length along the ARFZ — a major crustal-scale structure that has only recently been the focus of systematic exploration using modern techniques, offering significant untapped discovery potential.
Company Highlights
- District-scale Discovery Potential: Pacgold controls more than 377 sq km of tenure and more than 30 km of strike length across the Alice River Fault Zone (ARFZ), a fertile, underexplored structural corridor in Northern Queensland.
- Maiden Resource: In May 2025, the company published a 474,000 oz gold mineral resource estimate (MRE), covering just five percent of the total strike, confirming high-grade mineralization and strong potential for expansion.
- Aggressive Exploration Strategy: More than 10,000 metres of RC drilling campaign is underway, complemented by air-core and diamond programs, aimed at growing the Central Zone resource and testing multiple regional targets.
- Attractive Valuation Entry: With a market capitalization of just ~AU$10 million and an EV of AU$8.5 million (as of Q1 2025), Pacgold provides a low-cost entry into a potentially Tier 1 gold system.
- Experienced Leadership: The board includes proven mine developers and discovery geologists with prior success at Chalice, AngloGold Ashanti, BHP and Sibanye-Stillwater.
This Pacgold profile is part of a paid investor education campaign.*
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High-Grade Gold Discovery in First 8 Mile Drill Hole
- First RC hole at 8 Mile discovers high-grade gold and ends in mineralisation
- 8 Mile gold mineralisation extends 75m north of tenement boundary
The 8 Mile target is located within the Gidji JV Project (“Gidji” or “the Project”), approximately 15 kilometres north of Kalgoorlie and surrounded by multiple gold mining and processing operations, including Northern Star Resources Limited’s (“NST”) Kalgoorlie gold operations (Figure 1).
The 8 Mile Target is located immediately adjacent to NST’s “8-Mile Dam” gold deposit which, according to the most recent publicly available data, contains an estimated 7Mt @ 1.4g/t Au for 313,977 ounces1.
A limited number of fast-tracked results from the first RC hole, GJRC029, show a wide zone of gold mineralisation with a similar tenor to 8 Mile Dam (18m @ 0.94g/t Au from 480m including 1m @ 6.04g/t Au), approximately 75m north of the tenement boundary, and ended in mineralisation (3m @ 0.52g/t Au).
The Company is awaiting assay results from the remainder of the hole which are expected in 2-3 weeks.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was excited to see gold mineralisation continuing onto Miramar’s ground for a significant distance.
“This is the first time we have discovered significant gold mineralisation on our side of the fence, even though the drill hole didn’t end up exactly where we planned it to. The flip side of this is that we have extended the strike of gold mineralisation for over 100m on to our tenements,” he said.
“We’ve also demonstrated a relationship between the IP anomalism and gold mineralisation, which makes the other IP anomalies we have outlined at Gidji even more prospective,” he said.
Figure 1. The Gidji JV Project and 8-Mile Dam in relation to Kalgoorlie and surrounding deposits.
GJRC029 aimed to test an Induced Polarisation (IP) anomaly on the tenement boundary interpreted to represent the sulphide-rich gold mineralisation seen at the neighbouring 8 Mile Dam Deposit.
GJRC029 was collared approximately 10m north of the tenement boundary and mirrored MPGD008, a diamond hole drilled down-dip approximately 40m south of the tenement boundary by KCGM in 2013 and which intersected significant gold mineralisation related to the 8 Mile mafic unit.
Unfortunately, GJRC029 deviated significantly from the planned azimuth and, as a result, by the time the hole was terminated at the target depth of 504m, the drill trace ended up approximately 75m north of the tenement boundary (Figure 2). Despite this, the hole intersected a thick section of the steep westerly- dipping and highly altered 8 Mile mafic unit with widespread sulphide mineralisation, including disseminated magnetite and coarse-grained arsenopyrite, pyrrhotite and chalcopyrite, similar to the 8 Mile Dam Deposit (Figure 3).
Based on visual logging of RC drill chips, handheld portable XRF results and magnetic susceptibility measurements, samples from the bottom 56m of the hole were sent for priority analysis by fire assay at Bureau Veritas in Kalgoorlie.
The results from these initial samples confirm the relationship between the gold mineralisation and sulphides, and a relationship between the best gold mineralisation and coincident magnetic anomalism and elevated Arsenic as measured by handheld portable XRF. The first results also confirm that the IP anomaly is associated with potentially significant gold mineralisation, whilst the significant deviation of GJRC029 away from the planned target increases the potential strike length of gold mineralisation on Miramar’s ground.
Significant results are listed in Table 1, with assay results from the remainder of the hole expected in coming weeks.
The initial RC drilling programme, which also tested two other IP targets, is nearing completion and results will be reported once received and compiled.
Once all assays are received, the Company will plan further RC and/or diamond drill holes including to test the dip and strike extent of the mineralisation intersected in GJRC029.
The Company advises that the WA Department of Mines, Petroleum and Exploration (DMPE) has extended the main Gidji JV tenement, E26/214, for a further five years, and will now expire in March 2030.
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This article includes content from Miramar Resources 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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