Trigg Minerals (ASX:TMG) Significant Increase in The Mineral Resource Estimate by 92% at Wild Cattle Creek

19 December 2024

Price Sensitive Announcement $

Highlights:

• Wild Cattle Creek (WCC) deposit at the Achilles Project, confirmed as a significant antimony deposit, demonstrating high-grade and high-tonnage potential.
• The updated Mineral Resource Estimate (MRE), based on a 1% Sb cut-off, comprises:
  •  1.52Mt at 1.97% Sb, containing 29,902 tonnes of antimony, classified as Indicated and Inferred, and reported in accordance with JORC 2012 (refer to Table 1), representing an increase of ~92% from the 2013 estimate.
  • The updated MRE maintains the high grade 1% cut off and does not factor Tungsten and Gold offering further upside. Trigg will explore various lower economic cut-offs with the addition of Tungsten and Gold in a new MRE.
• Resource modelling highlights multiple high-grade (>1.6%) ‘shoots’ that remain open either down-dip or along strike.
• The deposit has been mostly drilled to a vertical depth of 100 metres and remains open down-plunge and along strike, highlighting the substantial growth potential still available at the Wild Cattle Creek deposit.
• The Achilles license also features numerous other antimony prospects with high grade antimony drill intersections outside the 2024 MRE providing immediate priority targets to expand the MRE.
• Multiple stibnite mineralisation styles result in a combined across-strike thickness averaging 74m.
• Trigg meticulously reconstructed and validated the drilling database, significantly enhancing the model’s resolution.
• Multiple stibnite mineralisation styles result in a combined across-strike thickness averaging 74m.
• The deposit is hosted within a 6 km long, largely untested structure, with potential repetitions along strike and elsewhere on the project.
• Trigg diligently reconstructed and validated assay and collar data in the drilling database, enhancing its quality and accuracy and substantially improving the model’s resolution.
• Trigg will leverage geophysics to support a Pathway Study to evaluate a 100Kt resource base objective.
  

This significant Resource upgrade reaffirms the Achilles Antimony Project as a premier asset with strong potential for further expansion and value growth. For details on the WCC resource estimate, please refer to Appendix 2: JORC Table 1.

Table 1 – Updated Mineral Resource Estimate using a 1% and 2% cut-off: Wild Cattle Creek Deposit

Overview:

Trigg Minerals Limited has announced an updated Mineral Resource Estimate (MRE) for the Wild Cattle Creek Antimony (Sb) Deposit, now standing at 1.52Mt at 1.97% Sb, containing 29.9Kt of antimony (refer to Table 1). This nearly doubles the previous estimate of 0.6Mt at 2.56% Sb, containing 15.6 Kt of antimony from 2013.

Wild Cattle Creek remains the second-largest antimony deposit in NSW. In addition to antimony, the deposit is enriched with tungsten and gold, which have yet to be considered in the updated estimate.

JORC 2012 Resource Upgrade and Mineralisation

The Wild Cattle Creek antimony mineral resource estimate, prepared by HSC in December 2024 in accordance with 2012 JORC Code & Guidelines, was based on 120 surface drill holes, totalling 9,538.6 metres (Appendix 1). The deposit is exposed at the surface for over 300 metres and extends at depth in all directions. The mineralisation remains open down dip, to the west and has a limited scope to the east (Figure 3). Mineralisation at WCC can be traced on the surface by old shafts, trenches, and prospecting pits for over a strike length of 900m. Since 1964, drilling has been completed at a shallow level over a strike length of 700m, with most drilling concentrated over a strike length of 300m and a depth of <200m below the surface.

Multiple overprinting phases of hydrothermal alteration and mineralisation at WCC are recognised within the mineral hosting east-west trending structure. This provides evidence of repeated periods of fault reactivation and hydrothermal fluid flow (Figure 4). This hydrothermal alteration and mineralisation are centred on a stibnite-bearing cemented breccia developed within the fault. Stibnite and wolframite-scheelite mineralisation occur in various styles in a symmetrical, concentric halo straddling the regional fault. Stibnite rosettes extend beyond the stibnite and wolframite-stibnite veins. The multiple styles of stibnite mineralisation have a combined across-strike thickness averaging 74m.

Trigg aims to expand the Wild Cattle Creek resource by targeting down-plunge extensions and testing potential replicate shoots along strike. These efforts are designed to significantly enhance the scale of the Achilles Project while accelerating the exploration of high-priority regional targets.

Drilling

Historic drilling campaigns include Dundee Mines (1965), Allegiance (1994-5) and Anchor Resources in 2009-10.  This drilling comprised a majority of diamond drill holes (HQ3, NQ and BQ core sizes) with some diamond tails on reverse circulation (“RC”) precollars. Allegiance also completed a small Airtrac (open-hole percussion) drilling program. A total of 178 holes for 11,401m have been completed for the property, of which 120 holes for 9,538.6m have been used in the resource estimates (details in Table 2). In 2007 and 2009, Anchor completed some re-sampling of selected intervals from a range of Dundee holes.

Most holes were drilled from north to south, intersecting the mineralisation at a moderate to high angle. However, no obvious orientation bias was detected during the drilling.

Limited data is available on the drilling techniques used, but it is worth reporting that the techniques were industry standard for the time and are considered suitable sampling methods: DD is the dominant form of sampling (Figure 5). Similarly, limited sample recovery data is available for any early drilling, including Anchor’s 2009 drilling. Therefore, no comment can be made on any relationship between antimony grade and recovery.

Sample recovery for the 2010 Anchor drilling is recorded digitally and averages 95%. The plotting of recoveries against antimony grade for these holes shows that there is a weak negative relationship between antimony grade and sample recovery, i.e. lower recovery with higher antimony grades.

All drilling has been qualitatively logged with varying degrees of detail for lithology, veining, mineralisation, and alteration. Anchor completed a relogging program on 17 Dundee holes and adapted historical logging codes into its unified logging system. Core photography exists for the Anchor drilling, but none is available for the historic drilling.

Sampling Analyses

This section details the analytical methodologies and quality assurance/control (QA/QC) procedures historically used to analyse samples from the Wild Cattle Creek (WCC) deposit (Table 3).

Sampling and sub-sampling were completed using standard industry procedures for the time, i.e. half core and 1m RC/Airtrac riffle split samples. All samples were sent to a recognised commercial laboratory for sample preparation and analysis (Analabs, Brisbane for Allegiance; ALS, Brisbane for the Anchor drilling).

The dominant sample interval for the Allegiance and Anchor diamond drilling was 1m, with the Dundee sampling, originally in feet, ranging between a nominal 1m to 3m (3’ to 9’) with an average of 1.3m (excluding three large intervals). Core sampling was under geological control with the Allegiance and Anchor sampling being sawn half core but there are no details on the Dundee core sampling technique, e.g. split core or sawn half core.

Dundee Sample Analysis: Details are limited to Sb, Au, Ag, and Hg analyses performed by an unspecified method. No further information is available regarding standards or results from this analysis.

Allegiance Analysis: No details are available for the Allegiance Airtrac sampling, although it is reported that a nominal 2kg sub-samples were produced for sample preparation and analysis. Reports suggest the primary method involved XRF analysis, but there is some ambiguity regarding its consistent use. A three-acid digest followed by AAS was reportedly used for lower-grade samples. Allegiance alludes to using Certified Reference Materials (CRMs), but no source data is available for verification or analysis.

2007 Anchor Reassaying of Dundee Core: The Anchor resampling of the Dundee holes was a mixture of quarter and half core (for previously unsampled intervals). Aqua regia digestion with ICP-AES was used for a suite of elements, including Sb, As, and W. Gold was analysed by fire assay with a 30g charge. Standards were inserted at a 1-in-5 ratio, but no results were available to assess the laboratory’s performance. Blanks were inserted at a 1-in-10 ratio, but no results were reported.

Anchor Drilling and 2009 Resampling: The Anchor RC sampling comprised a rig-mounted 3-tier riffle splitter (1:7 ratio) using a face sampling bit with a 135mm diameter. A four-acid digest with an ICP-AES finish was used for Sb, As, Fe, S, and W. XRF with conventional fusion completed the over-range analysis for Sb (>10,000ppm) and W (>1,000ppm). Sb values >20% were reanalysed by volumetric titration.

No standards were used for the resampling program, and outcomes of the resampling versus original assays remain undocumented.

Anchor used three homogenised pulp samples from several Dundee drillholes, providing matrix-matched but uncertified standards for the 2009/2010 drilling analysis. Uncertified expected values for ICP-MS and XRF assaying methods were derived for Sb via assaying at ALS Orange and check assaying at SGS Townsville. The Competent Person has reviewed this data and reports acceptable results from these analyses, with laboratory duplicate analyses for Sb demonstrating good repeatability. Most Sb results showed less than 10% variance.

The sub-samples for all drilling campaigns were sent to a commercial laboratory for sample preparation and analysis. Generally, sample weights were 2-4kg for both RC and recent core samples.

The Anchor RC and core samples were dried to 105°, coarse crushed to >70% passing 6mm, with a riffle split sample of 3kg being pulverised in an LM5 to 95% passing 75 microns to ensure sample homogenisation. The sample preparation, sample size and analytical method are deemed appropriate. Sample moisture was not recorded, although there were no reports of significant numbers of wet samples with the RC drilling. The Anchor resampling of the Dundee core followed the same sub-sampling preparation procedure. There are no details on the preparation of the Dundee and Allegiance sample.

In its quality assurance program, Anchor drilled a twin hole to Allegiance’s hole D114, which reported 7m @ 5.93% Sb from 54m. Anchor’s corresponding hole 10WDD11 returned 7.7m @ 7.76% Sb from 50.5m, demonstrating relative consistency between the two programs.

Global Ore Discovery (“GO”) conducted an independent gap analysis and partially validated the dataset, including a review of the QAQC data. Trigg will leverage the findings from this analysis to address identified gaps, enhance data reliability, and implement measures to increase resource confidence, ultimately supporting the advancement of the Wild Cattle Creek resource towards development.

Company Notes:

Trigg Minerals Executive Chair Timothy Morrison said, “The near doubling of the Mineral Resource at Wild Cattle Creek is a great achievement for the entire team at Trigg. I want to thank everyone involved. The substantial upgrade of the Mineral Resource at Wild Cattle Creek, part of the Achilles Project, reinforces its status as the cornerstone of the Trigg Minerals’ portfolio. This advanced JORC-compliant deposit elevates Trigg to a globally significant position in securing antimony supply and offers substantial exploration potential within and beyond the resource area. As our flagship project, Achilles underscores our commitment to driving growth and meeting the critical demand for antimony.”

Full ASX Announcement: Trigg Minerals Resource Update