Antimony Resources hits all-time high as it prepares for initial resource

Antimony Resources (CSE: ATMY) has taken initial steps to advance the Bald Hill deposit located in New Brunswick, Canada, towards its first-ever mineral resource estimate. Shares hit a record high.

In an update on Tuesday, the Canadian junior said it is in the process of completing a 10,000-metre resource definition drill program at the project’s main zone and has hired Toronto-based SRK Consultants for the resource estimation.

So far, about half of the drilling has been completed, with the remaining to be done in April, the company said in the press release, adding that it will take around 3-4 weeks for final assays of mineralized samples to arrive.

Shares of ATMY rose more than 10% to hit an all-time high of C$1.59 by midday Tuesday, taking its market capitalization to nearly C$150 million ($109.5 million).

“Our field crews and on-site staff have been successful in identifying new areas of antimony-bearing stibnite. Our 2026 exploration program will further explore these areas,” Antimony Resources’ CEO Jim Atkinson said in a news release.

In addition, Atkinson said the contracting of SRK “will be invaluable” in the resource definition step of Bald Hill for its recent work on a similar deposit at Beaverbrook in Newfoundland, which is currently idled under Chinese ownership.

Antimony is considered a strategic critical mineral due to its use in flame retardants, lead-acid batteries, semiconductors, and a range of defense technologies including ammunition, infrared sensors and night-vision equipment.

High-grade antimony project

Discovered in 2008, Bald Hill represents a well-known, high-grade deposit that stretches over a distance of 700 metres and to a depth of 400 metres. The mineralization has average widths of over 3 metres and grades ranging between 3-4%.

The company noted that the Bald Hill property is not restricted to just this one deposit, noting that at least three additional occurrences of stibnite have been identified outside the main across the 20-sq.-km project area.

At the same time, ATMY is also developing a 3-D model of the Bald Hill mineralization to support the determination of the resource estimate as well as the development of drill targets during the definition drilling.

The project was the subject of a 2025 technical report by JPL Geoservices, which did not disclose a resource but detailed potential quantities of nearly 28 million tonnes grading 3-4% antimony. ATMY said it has yet to conduct sufficient work to confirm this resource.