Trigg Minerals signs agreement to purchase 100% of the Achilles project which contains the globally significant high-grade and high-tonnage Wild Cattle Creek Antimony Deposit
It’s the latest antimony acquisition by Trigg, which has been building its assets rich in the critical mineral whose export has just been banned by leading producer China
The historic Achilles offers significant upside, with high-grade intercepts from a largely untested structure
Special Report: Trigg Minerals has inked a deal to acquire 100% of the Achilles project, home to the globally significant high-grade and high-tonnage Wild Cattle Creek Antimony Deposit.
Wild Cattle Creek is Australia’s highest grade undeveloped antimony deposit and one of the highest grade deposits of the critical mineral globally.
The acquisition is the latest strategic move by Trigg (ASX:TMG) after already picking up a string of historic antimony mines that include some of the highest grades of ever recorded in Australia.
Antimony is a key component of technology that powers modern economies. But like many other critical minerals antimony’s supply is controlled by China, which banned its exports from September 15.
This has sparked a run on ASX juniors with antimony prospects as the race heats up to find more of the metal in Australia, which hosts the world’s fourth largest reserves.
Achilles upside
Significant intersections recorded by historical owners of the Achilles Project include 10.7m at 14.24% stibnite (Sb), the main mineral of antimony, from only 44.7 metres, and 18.7 metres at 4.5% from 39.5 metres.
The Wild Cattle Creek deposit is the second largest of all antimony deposits in New South Wales, coming in after Larvotto Resources (ASX:LRV) Hillgrove.
The Achilles Project’s resource is currently 610 kt at 2.56% stibnite, 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.
But numerous ultra-high-grade drill intersections have been confirmed beyond the existing JORC resource, indicating significant upside for a resource upgrade.
The deposit is enriched from surface and open down plunge, hosted by a 6km long and largely untested structure.
At the metallurgy stage, historic testwork showed ultra-high antimony recoveries of over 95% are achievable from the Wild Cattle Creek deposit through a low-cost conventional milling and flotation technique.
After completing the acquisition Trigg will progress more exploration for resource expansion at the deposit, while also advancing it’s 100% owned Taylors Arm antimony project which contains Australia’s highest ever recorded antimony grade at 63% stibnite.
The 100% non-cash transaction for Achilles with private company Anchor Resources Pty Limited allows Trigg to preserve its healthy cash balance for exploration.
This article was developed in collaboration with Trigg Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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