Trigg Minerals (ASX:TMG) is pursuing funding opportunities with various domestic and international government bodies and end users to conduct exploration across the Achilles Antimony Project in New South Wales.
The company has received several unsolicited approaches regarding potential mergers and acquisitions, as well as off-take opportunities.
Trigg says in a follow up statement today (5 November) that these talks are preliminary, and no formal agreements have been finalised.
This news comes after Trigg, which has a market capitalisation of $29.56 million, completed high-resolution imagery analysis, which resulted in the identification of 30 additional high-priority targets.
Historical exploration and production records are now being collated, with the newly acquired remote sensing data to assess and rank each target.
Trigg says this approach is expected to enable prioritisation based on geological potential and exploration viability, supporting well-informed decision making for an upcoming campaign.
Executive Chairman Timothy Morrison says the company’s recent advancements at Achilles underscores its commitment to leveraging “cutting edge” technology to uncover and prioritise high-value exploration targets.
“With growing inbound interest from potential partners and industry participants, we’re even more motivated to strategically prioritise these targets and advance the project,” Morrison says.
“This milestone marks an important step forward in our goal to expand Trigg’s footprint in critical minerals resources.”
A ground reconnaissance program will be conducted on the 30 targets as access to the areas becomes available.
The company says exploration will focus on completing the data compilation and geophysical surveys to prioritise exploration targets, while also minimising the impact on the environment and local communities.
The Achilles Project hosts the Wild Cattle Creek deposit, featuring some of Australia’s “thickest and highest grade” antimony intersections including 10.7m @ 14.24% antimony; and 18.7m @ 4.5% antimony, including 5.2m @ 9.8% antimony.
Achilles also includes several historical antimony mines across a 6km strike length that has not been subjected to any systematic exploration.
Trigg reports that antimony prices have surged to US$35,000 per tonne ($53,009), which reflects an increase of over 100% in the past year. The price increase follows China’s export ban on certain antimony products in mid-September 2024.
Trigg Minerals is a mining company focused on antimony exploration at its Achilles, Taylors Arm, and Spartan projects, which are all located in New South Wales. The company also is advancing gold exploration in the Drummond Basin, Queensland.
The junior explorer is presenting on day one of the Noosa Mining Conference being held from 13-15 November at Peppers Noosa Resort in Queensland.
Mining.com.au is a media partner of this year’s event. Click here to register.
Write to Aaliyah Rogan at Mining.com.au
Images: Trigg Minerals
