Trigg Minerals (ASX:TMG) Thirty additional priority targets identified at the Achilles Antimony Project

4 November 2024

Price Sensitive Announcement $

Highlights:

• High-resolution satellite imagery analysis completed over the Achilles Antimony Project
  discovered thirty new target areas, each requiring priority field confirmation.
• The Achilles Antimony Project hosts the globally significant high-grade Wild Cattle Creek deposit, featuring some of Australia’s thickest and highest-grade antimony intersections, including but not limited to1:

  o 10.7m at 14.24% Sb (Hole D119)
  o 18.7m at 4.5% Sb, including 5.2m at 9.8% Sb (Hole 10WDD11)
  o 10.8 at 9.28% Sb (Hole D115)
  o 22.5m at 3.9% Sb (Hole DDH16)
  o 51.2m at 1.8% Sb, including 5.5m at 4.8% Sb (10WRD15)

• The Achilles Antimony project also includes several other historical high-grade antimony mines across a substantial 6km strike that have not yet undergone systematic exploration – an initiative Trigg has now commenced.
• Ultra-high-grade drill intersections, with grades up to 11.8% Sb (Hole DDH361 Jezebel Prospect), extend beyond the boundaries of the current MRE, underscoring significant exploration potential for further high-grade resource expansion.
• Exploration will focus on completing the data compilation and geophysical surveys to prioritise exploration targets while minimising the impact on the environment and local communities.
• Trigg is actively pursuing funding opportunities with various domestic and international government bodies and end users and has received several unsolicited approaches regarding potential M&A and off-take opportunities.
• Antimony prices have now surged to ~US$35,0002 per metric ton, reflecting an increase of over 100% in the past year, following China’s export ban on certain antimony products effective from 15 September 2024.

Overview:

Trigg Minerals has updated shareholders on recent exploration activities at its recently acquired Achilles Antimony Project in northern New South Wales. Trigg engaged Dirt Exploration, led by remote-sensing expert Dr. Neil Pendock, to conduct a multispectral analysis using Sentinel visible/near-infrared (VNIR), shortwave infrared (SWIR), and PULSAR synthetic aperture radar (SAR) satellite imagery. The analysis results have identified a substantial number of exploration targets, including 30 new targets and several previously noted by the former owner.

Trigg is now collating historical exploration and production records with the newly acquired remote sensing data to assess and rank these targets. This approach enables prioritization based on geological potential and exploration viability, supporting well-informed decision-making for the upcoming campaign.

Remote Sensing Study

Dirt Exploration used advanced remote imaging techniques, including VNIR, SWIR, and SAR satellite data, to generate exploration targets across the Achilles Project. A multivariate statistical classifier was trained on 12 drill holes from the Wild Cattle Creek Deposit, effectively creating a digital fingerprint for detecting antimony responses in the region. Within the project area, antimony occurrences include vegetation signatures, which can obscure signals from buried deposits. To address this, spectral unmixing was applied to separate vegetation spectra from other mineral signatures, improving detection accuracy. Additionally, Sentinel-2 VNIR and SWIR bands were used to estimate mercury (Hg) vapor and methane (CH₄) gas anomalies. These gases, which can penetrate vegetation and shallow soils, appeared anomalous across the 12 drill holes, correlating with known antimony occurrences (see
Figure 1).

Gas anomalies at Achilles coincide with established antimony prospects—such as Wild Cattle Creek, Jezebel, Graham & Navins, and Fletchers Mine, providing confidence in the generated responses (see Figure 2). Many gas anomalies display a WNW-trending distribution, which may indicate a series of potentially mineralised structures running sub-parallel to the Bielsdown Fault. This trend is particularly pronounced in the northern half of the Achilles Project.

The study has identified broadly prospective areas for antimony mineralisation, which are now being ranked and prioritised based on Sentinel and radar responses, alongside existing geological mapping and known rock geochemistry. Ground reconnaissance of the 30 selected targets will be conducted as access to these areas becomes available

Background Information

Mercury and methane are strongly associated with antimony in hydrothermal systems of the New England Orogen. Methane is crucial in mineralisation processes, while mercury—unique among metals for its ability to vaporise at relatively low temperatures—occursin its native form or as cinnabar within the Wild Cattle Creek deposit. The VNIR/SWIR spectral unmixing has identified an end member interpreted as stibnite and quartz, with antimony occurring within quartz veins. The stibnite response also correlates with mercury estimates, suggesting that mercury gas may serve as a useful indicator for concealed targets.

Company Notes:

Trigg Minerals Executive Chairman Timothy Morrison said: “Our recent advancements at the Achilles Antimony Project underscore Trigg’s commitment to leveraging cutting-edge technology to uncover and prioritise high-value exploration targets.
With growing inbound interest from potential partners and industry participants, we’re even more motivated to strategically prioritise these targets and advance the project. This milestone marks an important step forward in our goal to expand Trigg’s footprint in critical mineral resources and deliver long-term value to our shareholders.”