Metals Creek Resources (TSX-V:MEK) is re-evaluating the Yellow Fox antimony and gold project in the central Newfoundland Gold Belt, located 26.5km northeast of the Beaver Brook mine, amid a run on the antimony price.
Yellow Fox mineralisation exhibits similar traits to that of the past producing Beaver Book mine with the presence of gold, silver, galena, sphalerite, stibnite, and arsenopyrite.
Initial prospecting on the Yellow Fox property by Metals Creek in 2011 resulted in a concentration of highly anomalous gold values with a single sample returning 59.41grams per tonne of gold from the main Yellow Fox ‘showing’.
Soil sampling and mechanical trenching was completed across the Yellow Fox mineralisation with 13 selective grab samples collected.
Values ranging from 0.214g/t to 1.877g/t gold and up to 11.1% antimony (Sb), 5.5% lead, 7% zinc, and 72.9g/t silver were returned.
The re-evaluation of Yellow Fox comes as antimony prices have seen a significant increase over the past month with speculation of a potential supply shortage.
China, which accounts for 48% of global production, in September indicated it will place export restrictions on antimony related products.
Metals Creek notes these supply restrictions will necessitate alternate sources of antimony especially for the US which is one of the largest end users. Defence is one of the largest end users for antimony, as well as the electronics industry.
Write to Adam Orlando at Mining.com.au
Images: Metals Creek
