Antimony Resources Puts Bald Hill on the Cusp of a Formal Resource Count

The final drill results of Antimony Resources’ 2025 campaign have landed, and they do more than just extend known mineralization — they set the stage for the company’s first-ever NI 43-101 resource estimate, expected within weeks.

Hole BH-25-34, the last of the current program, cut 7.05 meters averaging 4.38% antimony at roughly 250 meters depth. Within that interval, a higher-grade section of 3.15 meters returned 9.76% Sb. The intercept pushes the stibnite-bearing Main Zone northward and to greater depth, adding to a growing body of data that now spans more than 13,800 meters of cumulative drilling.

That database is now in the hands of SRK Consulting in Toronto, which is preparing the formal resource estimate. The consultancy brings recent relevant experience, having just completed a resource calculation for the former Beaverbrook production project in Newfoundland. Assays from the definition holes are being processed at Activation Laboratories in Stoney Creek, Ontario. Management targets a late-April or early-May release.

Beyond the Main Zone

The current definition program, which wraps up April 28, has drilled over 8,000 meters across 34 holes. The Main Zone now stretches 700 meters along strike and extends to at least 350 meters depth, with average widths of 3 to 4 meters grading 3% to 4% antimony. An updated 3D mineralization model underpins the ongoing work.

But the company is already looking beyond this core area. A fully funded 11,000-meter exploration program kicks off in mid-May, shifting focus to newly identified satellite zones — Marcus, Central, and South — that a previous operator mapped but never systematically tested. The entire Bald Hill land package has been expanded through new claims to more than 2,000 hectares.

Permitting Moves Forward in Parallel

Antimony Resources isn’t waiting for the resource estimate to advance the regulatory side. On April 6, it hired GEMTEC Consulting Engineers and Scientists to develop a permitting roadmap for Bald Hill. Initial discussions with the New Brunswick provincial government have already taken place, and baseline environmental studies are slated to begin this spring.

Should investors sell immediately? Or is it worth buying Antimony Resources?

The company says it is fully funded for all 2025 exploration and development plans, thanks to a December financing round that brought in net proceeds of C$8.7 million. At current market prices, the stock trades roughly a quarter below its 52-week high, though it remains sharply higher on a year-over-year basis.

A Market That Needs New Supply

The macro backdrop gives the project added weight. The global antimony market has been in structural deficit since 2022, driven in part by surging demand from the solar industry. The chairman of Chinese producer Hsikwangshan Twinkling Star has pegged annual photovoltaic demand growth at 30%.

Geopolitical factors compound the supply tightness. Until late 2024, nearly 90% of global output came from China, Russia, and Tajikistan. Beijing imposed antimony export restrictions on the U.S. in December 2024, then suspended them in November 2025 through November 2026 — though export licenses and the ban on military end-users remain in place. The strategic dependence of Western economies on a concentrated supply chain has not changed.

Analyst Support

GBC AG reaffirmed its buy recommendation on the stock in late March, citing the project’s strategic value in the current market environment. The firm set a price target of C$3.00.

For Antimony Resources, the coming weeks represent a transition point. The resource estimate from SRK will convert geological findings into a certified, quantified foundation — the kind of milestone that separates a grassroots explorer from a project with defined potential. With the drill rigs set to move to satellite targets in May, the company is positioning for a year of multiple catalysts.