Trigg Minerals (ASX:TMG) – District size expansion of Triggs ultra high-grade antimony project

Price Sensitive Announcement $

23 October 2024

Highlights:

• Trigg enhances its antimony portfolio by entering into binding purchase agreements to acquire 100% of the Spartan West and Taylors Arm East Antimony applications (ELAs 6802 and 6821). The projects are in the New England Orogen in northern NSW, Australia, and are considered highly prospective for antimony ± gold/silver mineralisation.
• The combined acquisition cost of both projects is $10,000 cash + $225,000 worth of shares at a deemed issue price of $0.05, equating to 4,500,000 TMG shares with 6-month voluntary escrow.

  SPARTAN WEST ANTIMONY PROJECT

• The Spartan West application (ELA 6821) is situated adjacent to Larvotto Resources Ltd’s (ASX: LRV) licenses, which contain their Hillgrove Antimony-gold operation. The Spartan West project contains several antimony gold occurrences and covers parts of the Hillgrove Fault and the same rocks that host the Hillgrove Antimony-Gold Deposit.

  TAYLORS ARM ANTIMONY EAST PROJECT

• The Taylors Arm Antimony Portfolio includes 87 historical mines, most producing high-grade antimony. The new application (ELA 6802) adds 16 additional workings, including but not limited to the following1 (refer Table 1):

  Bull Creek Mine – Recent rock samples revealed extremely high-grade antimony mineralisation, with grades of 57.9% Sb and 16.4% Sb. Antimony was mined in multiple periods, with some yielding grades as high as 50% Sb.

• O’Donnell’s Reef – Brecciated quartz-filled shear zone featuring stibnite mineralisation with grades to 6.5% Sb.
• Tewinga Silver Mine – was worked intermittently until 1935, where a 23.5t bulk sample parcel of ore yielded 3,471oz of silver at a grade of 147.7oz/t (4116 g/t)2. The mineralisation is traceable over 1200m in length.
• Significant gold and silver mineralisation have been identified across the Taylors Arm Portfolio, with notable assay results including up to 24 g/t gold and 840 g/t silver.

Overview:

Trigg Minerals Limited has announced it has signed binding purchase agreements to acquire two tenement applications, significantly expanding the footprint of its Spartan and Taylors Arm Projects in northern New South Wales. The new acquisitions extend the Spartan Project west of Larvotto Resources Limited’s (ASX: LVR) Hillgrove Mining Operations and north and east of Trigg’s Taylors Arm Project.

This strategic expansion builds on the Company’s existing regional portfolio, which includes the Spartan and high-grade Taylors Arm Antimony Projects. The new Spartan application (ELA 6821), acquired from Obscure Minerals Pty Ltd, covers parts of the Hillgrove Fault and the same rocks that host Larvotto’s Hillgrove Antimony/Gold Operations—Australia’s largest known antimony deposit. The newly acquired Taylors Arm application (ELA 6802) from Pinpoint Prospecting Pty Ltd strengthens our strategic position in a region known for its rich antimony deposits. This addition brings 16 more historical workings, including eight focused on antimony, bringing the total number of workings in the Taylors Arm Project to 87. The expanded footprint now enhances Trigg’s exposure to highly prospective mineralisation, aligning with the Company’s vision to capitalise on the growing demand for critical minerals like antimony.

Project Overview

Trigg has signed binding purchase agreements with Obscure Minerals Pty Ltd and Pinpoint Prospecting Pty Ltd to acquire a 100% interest in two separate exploration applications in the New England Orogen region of northern NSW.

The Spartan Project, including the new application (ELA 6821), is strategically located next to Larvotto’s Hillgrove Antimony-Gold Operations, Australia’s largest known antimony deposit. The tenements cover the same mineralised structures and host rocks, including the Hillgrove Fault, which bounds the Hillgrove system and historically produced high-grade antimony at the Magwood Mine to the project’s northeast. This indicates strong potential for further discoveries. The application contains several historical exploration prospects for antimony, gold, silver and manganese.

The other application (ELA 6802) lies immediately north of the Trigg’s granted Upper Taylors Arm partition. Sixteen historical workings are distributed across the application. The western partition of the application contains three historical workings, including Keayes Creek and Bull Creek, that report high-grade sulphidic-quartz breccia material (with grades exceeding 6% Sb and up to 57.9% Sb; Table 1). Host rocks for the quartz-stibnite breccia veins are predominantly Permian-aged metasediments of the Nambucca Beds. These occurrences are structurally controlled by fault, shear and fracture systems and resemble the 71 historical occurrences captured within the Taylors Arm licence (EL9668). The Keayes Creek and Bull Creek workings have undergone minimal exploration, with the last reconnaissance occurring in 2013 and, before that, in the 1990s.

Keayes Creek includes five high-grade stibnite-bearing lodes identified within a 40-metre-wide shear complex. This shear system can be traced for at least 500 metres, indicating significant potential for further exploration of antimony mineralisation. Rock samples from the workings have returned up to 6.2 g/t gold.

Bull Creek is an open-cut and underground antimony mine developed along three distinct shear zones. Recent rock samples from the site have confirmed extremely high-grade antimony mineralisation, with assays returning values of 57.9% Sb and 16.4% Sb. Historically, antimony was mined in multiple periods, with some operations yielding 50% Sb. Recent rock samples from the Bull Creek Mine workings have yielded promising gold results, with one sample returning 6 g/t gold and a nearby second sample producing an even higher assay of 24 g/t gold. These findings suggest that, alongside its high-grade antimony, the area also holds significant potential for gold mineralisation.

The eastern portions of the application area show a history of significant igneous intrusive activity, with small intrusions from the Hillgrove Plutonic Suite and the New England Batholith penetrating the Nambucca Beds at several locations. This region encompasses numerous mineral occurrences that belong to the Valla-Yarrahapinni Mineral District, which is distinguished by its zoned, intrusive-related mineralisation. Igneous activity in the area has been crucial in the formation and concentration of mineral deposits, creating strong potential for various mineralisation styles, including:

• Epigenetic vein-hosted mineralisation associated with major structural zones.
• Joint and fracture-controlled mineralisation within sedimentary rocks located above buried intrusive cusps.
• Disseminated and stockwork mineralisation within granitoids.
• Pipe-like bodies of sulphide found within sub vertical alteration zones adjacent to dykes along the margins of intrusives.

Mineral occurrences in the eastern part of the application occur near the intrusive Valla Adamellite. The mineralisation mainly consists of fracture-controlled sulphidic quartz and breccia veins, along with multiple vein networks. There is a distinct zonation of metallic elements: molybdenum (Mo) is found closest to the intrusion, followed by silver-lead (Ag-Pb) and silver-arsenic-gold (Ag-As-Au) in the outer zones. Additionally, an outer antimony (Sb) shell surrounds the Valla mass.

O’Donnell’s Reef comprises underground workings, shafts and shallow pits, developed on a brecciated quartz shear zone featuring stibnite mineralisation with grades to 6.5% Sb and displaying a cockade structure around country rock fragments.

The Tewinga silver deposit offers significant tonnage potential. However, limited exploration has been conducted on this potentially large Ag-Au deposit, highlighting the need for further investigation. The argentiferous lode ranges from 1.22 to 1.83 metres wide in the north, expanding to 3.05 to 4.75 metres in the south, and can be intermittently traced at the surface for over a kilometre. Assays of lode material from early prospectors have shown significant variability, with hand-picked samples yielding silver grades ranging from 31 to 5,939 g/t. These samples primarily consisted of crystalline and granular quartz, which contained entrapped fragments of the surrounding country rock.

With the addition of these new tenement applications, Trigg now holds significant exploration ground across 588 square kilometres of the New England Orogen.

Company Notes:

Trigg’s Executive Chair, Timothy Morrison, said: “The expansion of the Spartan and Taylors Arm Projects strengthens our strategic position in a region known for its high-grade antimony mineralisation. These new acquisitions represent a critical step in our long-term strategy to unlock the potential of these assets and to become a key player in the global supply chain for antimony, a critical mineral in the renewable energy and technology sectors. With growing global demand for antimony, particularly as a component in energy storage systems and solar panels, the timing of this expansion is highly opportune.”

Full ASX Announcement: https://wcsecure.weblink.com.au/pdf/TMG/02870280.pdf