Trigg Minerals (ASX:TMG) fast tracking to restate and expand Wild Cattle Creek antimony resource

8 October 2024

Price Sensitive Announcement $

Highlights:

• The Mineral Resource Estimate (MRE) for the Wild Cattle Creek deposit, reported in accordance with JORC 2012 and using a 1% Sb cutoff, includes an Indicated and Inferred Resource of 610 kt at 2.56% antimony (Sb), equating to 15,600 tonnes of contained antimony1 making the Wild Cattle Creek the highest-grade undeveloped antimony project in Australia, with the potential significant resource expansion.
• The high-grade Wild Cattle Creek (WCC) antimony deposit, part of the Company’s to-be-acquired Achilles Antimony Project, is particularly sensitive to fluctuations in antimony prices.
• Antimony prices have surged 150%2 since the JORC Resource announcement in 2013, a change not accounted for in the existing resource model.
• A sporadically developed antimony ± tungsten vein network, surrounded by disseminated antimony, is missing from a resource model featuring only the high-grade antimony core, indicating the potential for additional volume.
• The deposit is enriched in antimony, tungsten, and gold; however, the original MRE does not consider gold and tungsten. Including these additional metals could enhance the MRE upon restatement.
• Upon completion of the acquisition of the Achilles Antinomy Project, Trigg will inherit a well-organised and comprehensive drilling database from Anchor Resources Pty Ltd (Anchor), facilitating a resource restatement with these considerations in mind.
• Achilles contains several antimony prospects outside the Wild Cattle Creek Resource, with the most advanced being the Jezebel Prospect, which recorded an ultra-high-grade intercept of 1.3m at 11.8% Sb in drilling (Hole DDH36).
• Other prospects, like Fletchers Mine, feature stibnite-rich outcrops assaying up to 8.22% Sb, offering significant exploration upside and resource potential.
• Trigg has confirmed access to the Antilles Antimony Project, marking a significant milestone in its development, the Company and Anchor have agreed to amend the acquisition agreement such that all consideration TMG Shares will be issued at completion, pending shareholder approval.

Overview:

Trigg Minerals Limited has updated the market on developments at the recently acquired Achilles Antimony Project, which includes the substantial, undeveloped Wild Cattle Creek (WCC) deposit. As New South Wales second-largest antimony deposit(3), WCC contains 15,600 tonnes of antimony and is also enriched in tungsten and gold.

Trigg is rapidly working to restate the existing MRE and grow, potentially significantly, the Wild Cattle Creek resource for several key reasons:

• The high-grade antimony deposit is highly sensitive to price fluctuations. Antimony prices have surged 150% since the 2013 JORC Resource announcement, based on a 1% cutoff grade and an antimony price of around $10,000. Under the current price structure, lowering the cutoff grade will expand the resource volume.
• The existing model only accounts for the high-grade core and does not include the lower-grade alteration assemblage comprising of antimony ± tungsten vein networks enclosed by disseminated antimony (Figure 1).
• Additionally, the original MRE excludes the deposit’s tungsten and gold content. Including these metals in the restatement could increase the resource’s value and unlock its full potential

Upon completion of the Achilles Antimony Project Trigg will inherit a well-organised and comprehensive drilling database from Anchor, facilitating this push towards restating the Wild Cattle Creek resource, with completion expected by early to mid-November.

Exploration drilling west of the defined deposit (Figure 2) is expected to further expand the WCC resource. Drilling will commence once access agreements are successfully negotiated.

Additionally, the company is encouraged by Anchor’s broader exploration results, which have identified stibnite (Sb₂S₃) mineralisation in outcrops at six additional locations. Four of these prospects are broadly located along a single orientation trending approximately east-west fault, the Bielsdown Fault, which also hosts the deposit (Table 1: Appendix 1). The observed style of mineralisation and mineral assemblage at the outlying antimony prospects closely resembles that of the Wild Cattle Creek antimony deposit.

Of these additional locations, only the Jezebel Prospect has been partially tested through drilling, yielding significant but relatively thin antimony intercepts, including 1.3 m at 11.8% Sb (from 33.7 m, DDH36)4.

Company Notes:

Trigg Minerals Executive Chair Timothy Morrison said, “I am thrilled by the potential for significant early gains from our impending acquisition and the promising results from Anchor’s initial exploration efforts elsewhere on the property. The early indications of the Achilles project suggest a wealth of opportunity, and we are eager to unlock its full potential. It’s an exhilarating time for Trigg, and I look forward to sharing our progress as we explore and expand this exciting venture.”

Full ASX Announcement: 6A1229988.pdf (discoveryalert.com.au)