Albright Metals (ASX:ABR) has completed the second payment milestone for the acquisition of the Golden Pike Gold and Antimony Project in New Brunswick, Canada.
Under the deal with Globex Mining Enterprises (TSX:GMX), the company paid C$100,000 ($102,049) in cash and C$200,000 worth of shares, as part of the second payment.
CEO Greg Hill says the company’s decision to complete the second milestone payment reflects the strong confidence it has in the project.
“I am extremely pleased with the progress made over the last year on the development of the Vail Road gold deposit and the results of our first drilling program on the claims,” Hill says.
“There is enormous upside potential from the many gold and antimony prospects across the project area.”
The Golden Pike Project includes the Vail Road deposit, the Bond Road antimony prospect, and the Albright Brooke antimony prospect.
Vail Road contains a foreign resource estimate, which Albright is merging with recent drill results to create an updated resource estimate.
As previously reported, drill results from a 2025 program returned 5m @ 3.9 grams per tonne gold from 56m, including 1m @ 17.2g/t gold from 57m; 2.33m @ 24.81g/t gold from 51.92m, including 1m @ 57.5g/t gold from 53.25m; and 3.4m @ 1.7g/t gold from 4.7m, including 1.2m @ 3.13g/t gold from 6.1m.
The 2025 drilling focused on infilling portions of the parallel zone to test continuity, replicate historical holes to ensure quality, infill shallow portions of the Main Zone, collect structural data on vein contacts, and acquire sufficient core samples.
Last month, Albright also received assay results from diamond core samples at Albright Brook. Some of the results included 37.05m @ 1.12g/t gold from 60.95m, including 2.35m @ 4.76g/t gold from 77.10m.
Albright Metals is a mineral explorer focused on antimony, copper, gold, lithium, and manganese across Australia and Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Albright Metals
