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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
Equity Metals
Investor Insight
Equity Metals offers investors exposure to high-grade silver and gold discoveries in British Columbia through a dual-track strategy of expanding its flagship Silver Queen resource and advancing the newly acquired Arlington district.
Overview
Equity Metals (TSXV:EQTY,OTCQB:EQMEF,FSE:EGSD) is fast-tracking exploration at its 100 percent owned Silver Queen project in British Columbia, targeting resource expansion and derisking of one of the province's most prospective high-grade polymetallic deposits. Located within the prolific Skeena Arch near the historic Equity Silver and Huckleberry mines, Silver Queen boasts an NI 43-101 compliant resource of 62.8 million ounces (Moz) silver equivalent (indicated) and 22.5 Moz silver equivalent (inferred), with 2024 drilling extending known zones and identifying new mineralized areas.
Complementing this is the Arlington gold-copper-silver project, a newly acquired district-scale, never-before drill-tested project located in southern BC's Greenwood Mining Division. With analogues to historic producers like Phoenix and Buckhorn, Arlington is being aggressively explored with 3,000 meters of drilling underway, focused on delineating high-grade gold-enriched polymetallic mineralization.
Parameters for the NI 43-101 Compliant Mineral Resource Estimate are in the Appendix and in the EQTY News Release, dated Dec 1, 2022
Together, Silver Queen and Arlington offer a balanced exposure to high-grade polymetallic and gold-rich systems. The former provides near-term resource expansion and development optionality, while the latter opens up district-scale discovery potential.
In addition, Equity Metals holds interests in the Monument and WO diamond properties in the Lac de Gras region (Northwest Territories), proximal to the Diavik and Ekati mines, and the La Ronge silica project in Saskatchewan. These projects offer upside optionality for strategic partnerships or asset sales.
Company Highlights
- Flagship High-grade Project – Silver Queen: Over 85 million silver-equivalent ounces defined in the heart of BC's Skeena Arch mineral belt, surrounded by Tier 1 infrastructure and historical producers.
- New Gold Discovery Potential – Arlington project: A district-scale, early-stage gold-copper-silver system with analogues to major past-producing skarn and vein-hosted mines in the region.
- Fully Funded for 2025: 9,000 meters of combined drilling is underway across both Silver Queen and Arlington with assay results expected to drive news flow through Q3 and Q4 2025.
- Experienced Management and Technical Team: Track record of discovery and mine development across North America, including the Penasquito and Eskay Creek mines and the Wind Mountain project.
- Exposure to Critical and Precious Metals: Balanced portfolio spanning silver, gold, copper and diamonds with optionality in battery materials (silica) and critical minerals.
Key Projects
Silver Queen Project
The Silver Queen project is Equity Metals’ 100 percent owned flagship asset located in central British Columbia’s prolific Skeena Arch, approximately 35 km south of Houston. This 18,871-hectare property consists of 17 crown-granted titles and 46 tenure claims in the Omineca Mining Division. Surrounded by past-producing and active mines, including the Equity silver mine, Berg, Endako and Mt. Milligan, the project benefits from established infrastructure such as roads, power and rail access.
Silver Queen hosts a high-grade polymetallic system featuring silver, gold, copper, lead and zinc mineralization. The project is underpinned by a robust NI 43-101 compliant resource estimate (as of December 2022) consisting of 62.8 million ounces (Moz) silver-equivalent (AgEq) in the indicated category grading 565 grams per ton (g/t) AgEq, and 22.5 Moz AgEq in the inferred category grading 365 g/t AgEq. This includes 3.46 million tons (Mt) of indicated resources averaging 189 g/t silver, 2.13 g/t gold, 0.24 percent copper, 0.6 percent lead, and 3.5 percent zinc, and 1.92 Mt of inferred resources grading 167 g/t silver, 0.82 g/t gold, 0.23 percent copper, 0.5 percent lead, and 2 percent zinc.
The mineralization occurs in multiple steeply dipping epithermal vein systems, subdivided into the No. 3, NG-3, Camp and Sveinson veins. Each exhibits distinct metal zonation – the Camp veins are silver-dominant, while the Sveinson, No. 3 and NG-3 show a stronger gold bias. Bonanza grades have been intercepted at multiple locations, including down-hole drill core intervals assaying up to 56,115 g/t silver over 0.3 metres in recent drill results. High sulphide and low sulphide vein environments have both been identified, suggesting a long-lived and multi-phase mineralizing event.
Since late 2020, Equity has completed 52,877 meters of drilling in 146 holes, targeting extensions and new zones of mineralization. In 2024 alone, four target areas – George Lake, Camp North, No. 3 North and Camp-Sveinson – were tested via 17,209 meters across 42 holes. Drilling resulted in the delineation of a 550-metre strike-length for mineralization in the George Lake target and a 400-metre strike-length for mineralization in the No. 3 North target, as well as several extensions of earlier identified veins in the Camp Deposit and a new discovery in the Camp North target. A 6,000-meter 2025 drilling program will further test these zones with updated modeling and resource growth expected in Q3 2025.
Metallurgical testing completed in both 1988 and 2022 yielded positive recoveries: 83 percent gold, 95 percent silver, 93 percent copper, 91 percent lead, and 98 percent zinc. A follow-up metallurgical program is planned to support preliminary development studies. With extensive underground development (~9 km of historic workings) and proximity to key infrastructure, the Silver Queen project is well positioned for advancement toward economic studies and ultimately, a potential strategic transaction.
Arlington Project
The Arlington project is a 3,584-hectare, early-stage exploration asset located in southern British Columbia’s Greenwood Mining Division, approximately 65 km south of Kelowna. The project sits within the prolific Quesnel Terrane and is accessible year-round via Highway 33 and a network of logging roads. The region hosts several historical producers including the Buckhorn, Phoenix, and Beaverdell mines, which have collectively yielded more than 2 Moz gold, 6 Moz silver and 500 Mlb copper.
Arlington encompasses multiple mineral occurrences and at least four deposit styles across a more than 5 km strike length. Historic and recent surface work has confirmed high-grade mineralization with rock samples returning values up to 11.67 g/t gold, 211 g/t silver, and 3.22 percent copper. The 2025 exploration program, currently underway, includes a 3,000-metre drill campaign primarily targeting the Fresh Pots gold-silver anomaly – a large (2 km x 1 km) intrusion-related gold system delineated by multi-element soil geochemistry and magnetic lows.
Other high-priority targets include:
- Rona Porphyry Target: A copper-molybdenum-gold system with pyroxenite intrusive-hosted mineralization. Rock chip assays have returned >1 percent molybdenum, 0.6 g/t gold, and 32.4 g/t silver. The area is characterized by a large copper-nickel soil anomaly and widespread argillic alteration in adjacent sedimentary rocks.
- Arlington Polymetallic Veins: A structurally controlled vein system with documented historic workings. Highlights include Arlington South (11.67 g/t gold, 3.22 percent copper) and Arlington North (1.86 g/t gold, 1.07 percent copper), suggesting vertical metal zonation and potential for stacked vein systems.
- Skarn and Replacement Targets: Notably at the Bru and Arlington zones, analogous to Buckhorn and Phoenix, where gold-copper magnetite skarns produced over 1 Moz historically.
In early 2025, Equity Metals completed a property-wide airborne magnetic/radiometric survey and LiDAR mapping campaign to refine targeting. Soil and till geochemistry, IP surveying and mapping continue across the license area to delineate follow-up drill targets for 2026.
Management Team
Lawrence Page – Chairman and Director
A seasoned mining executive with over four decades of experience, Lawrence Page has helped finance and develop several major discoveries including Penasquito (Mexico), Eskay Creek and Hemlo. He brings strategic oversight and a deep network within the exploration and capital markets community.
Joseph A. Kizis Jr. – President and Director
With over 40 years of mineral exploration experience, Joseph Kizis has been instrumental in advancing gold, silver and base metal projects across North America. He is also president of Bravada Gold and has played key roles in advancing Wind Mountain in Nevada and Homestake Ridge in BC.
Robert W.J. Macdonald – VP Exploration
Robert Macdonald leads Equity Metals’ technical team and brings extensive epithermal and porphyry system expertise. His past project experience includes Homestake Ridge in BC and Cerro Las Minitas in Mexico, and he is the Qualified Person for all technical disclosures.
Killian Ruby – CFO and Director
As president and CEO of Malaspina Consultants and a former senior manager at KPMG LLP, Killian Ruby brings financial discipline, governance strength and tax expertise. He also serves as CFO for several junior resource companies.
John Kerr – Director
A professional engineer with five decades of exploration experience, John Kerr has contributed to the discovery and development of projects such as Santa Fe and Mindora in Nevada, and Frasergold in BC.
Courtney Shearer – Director
Courtney Shearer has served in executive and advisory roles with multiple Canadian mining companies, including San Gold Corporation, where he led strategic evaluations and project planning initiatives.
Arie Page – Corporate Secretary
Arie Page provides legal and corporate compliance support and has served as corporate secretary for numerous public companies within the Manex Resource Group.
Appendix:
Silver Queen Mineral Resource Estimate (NI 43-101 Compliant, Dec. 1, 2022) (C$100 NSR cut-off)
- The current Mineral Resource Estimate was prepared by Garth Kirkham, P.Geo., of Kirkham Geosystems Ltd and Eugene Puritch, P. Eng., FEC, CET and Fred Brown, P, Geo. of P&E Mining Consultants Inc. (“P&E”), Independent Qualified Persons (“QP”), as defined by National instrument 43-101.
- All Mineral Resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (“CIM”) definitions, as required under National Instrument 43-101 (“NI43-101”).
- Mineral Resources were constrained using continuous mining units demonstrating reasonable prospects of eventual economic extraction.
- Silver and Gold Equivalents were calculated from the interpolated block values using relative process recoveries and prices between the component metals and silver to determine a final AgEq and AuEq values.
- Silver and Gold Equivalents and NSR$/t values were calculated using average long-term prices of $20/oz silver, $1,700/oz gold, $3.50/lb copper, $0.95/lb lead and $1.45/lb zinc. All metal prices are stated in $USD. The C$100/tonne NSR cut-off grade value for the underground Mineral Resource was derived from mining costs of C$70/t, with process costs of C$20/t and G&A of C$10/t. Process recoveries used were Au 70%, Ag 80%, Cu 80%, Pb 81% and Zn 90%.
- Grade capping was performed on 1m composites for the No. 3 and NG-3 veins and whole vein composites for the Camp and Sveinson veins. For the No. 3 and NG-3 veins Inverse distance cubed (I/d3) was utilized for grade interpolation for Au and Ag and inverse distance squared (I/d2) was utilized for Cu, Pb and Zn. Inverse distance squared (I/d2) was used for all metals in the Camp and Sveinson veins.
- A bulk density of 3.56t/m3 was used for all tonnage calculations in the No. 3 and NG-3 veins. A variable density with a 3.15 average was used for the Camp and Sveinson veins.
- Mineral Resources are not Mineral Reserves until they have demonstrated economic viability. Mineral Resource Estimates do not account for a Mineral Resource’s mineability, selectivity, mining loss, or dilution.
- An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
- All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.
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