Felix Gold (ASX:FXG) has commenced extracting and stockpiling ‘high-grade’ antimony at the Treasure Creek Antimony Project in Fairbanks, Alaska, with around 30 tonnes of massive stibnite vein material extracted to date.
The antimony material is being extracted from the Bundtzen Vein, which is the same vein that returned a direct-ore assay of 71.9% antimony and in-situ material grading of up to 50.26% antimony. This is the same vein that delivered the US military-grade antimony ore, as previously reported by Mining.com.au.
The recently extracted material has not yet been assayed or given a grade specification.
Alongside the extraction work, around 20 tonnes of massive stibnite vein material has been prepared for storage in an off-site facility, demonstrating Felix’s end-to-end infrastructure and logistics.
Executive Director Joseph Webb says that the company has now entered a new phase.
“It is now physically extracting and stockpiling antimony ore in the US under permit, while advancing a pathway to domestic processing,” Webb says.
“The project has also been accepted into the State of Alaska’s coordinated permitting process.
“The vein system we are extracting from has previously yielded direct-ore assays meeting US military concentrate specifications, which is a different kind of starting point to most antimony projects globally.
“At a time when the US is fully import-dependent for antimony raw materials, having a domestic source of raw material supply in active operation is a meaningful step.”
Felix has also announced its acceptance into the State of Alaska’s multi-agency permit coordination process, which is administered by the Alaska Department of Natural Resources Office of Project Management and Permitting (OPMP).
The company is working alongside the OPMP for State authorisations and permits needed for the long-term plan of operations, with the OPMP assigning a project coordinator as Felix’s key point of contact.
Felix notes that OPMP participation is voluntary and the OPMP does not issue permits itself, but acts as a coordinator for the company.
Finally, the company’s board has also approved a proposed grant of options to Webb, subject to shareholder approval. These options are a key portion of the remuneration arrangements for Webb in his capacity as Executive Director.
Felix Gold is advancing two complementary opportunities, antimony and gold, in Alaska’s Fairbanks Mining District.
Write to Amy Rotman at Mining.com.au
Images: Felix Gold
