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Thunderbird Resources (ASX:THB) has snatched up a 488sq.km portfolio of landholdings near Larvotto Resources’ (ASX:LRV) Hillgrove antimony find.
Larvotto’s Hillgrove discovery came after China banned exports of antimony and saw the company’s share price surge upwards in what felt, for holders, like it was an overnight change.
Antimony, it should be noted, is a critical mineral: a familiar thematic in the post-COVID era – but China’s export curbs don’t necessarily matter for the world market.
China isn’t actually the world’s largest producer and appears to be trying to protect its own supplies, which are decreasing year on year. At any rate, investors and traders haven’t let that stop them from going on a bourse-wide hunt for small explorers with room to run who’ve found the critical mineral.
You could ask the same questions of metals traders, whether the Chinese export curbs are realistically significant enough to push current spot prices to US$25,000/tn. (In 2022, Australia was the largest exporter of antimony ores.)
Now Thunderbird joins that former crowd, too – with the added bonus of being able to claim nearology benefits nearby Larvotto. (And, who knows – the company could actually hit a widespread antimony system.)
Its fresh EL9053 permit adjoins Larvotto’s Hillgrove play; prior sampling within that envelope boundary came up at 18.2% antimony and 76g/t gold – presumably rock-chips. Geologically it’s part of the New England Orogen in NSW, “currently undergoing a major exploration renaissance.”
Perhaps more traditionally, the company also noted on Wednesday that its new portfolio of assets are also prospective for gold.
Its EL9147 permit contains “multiple gold reefs in the historical high-grade Kookabookra gold field” after which that asset is named.
“Notably, the geological structures that host Hillgrove’s deposits potentially extend north-west into Thunderbird’s newly acquired tenements, which also host numerous historical prospects and targets with significant antimony results, including 18.2%3 Sb,” Thunderbird EC George Bauk said.
“Importantly, these new tenements also provide an opportunity for Thunderbird to undertake exploration throughout the year, providing news flow and share price catalysts for the Company during the northern hemisphere winter when our Canadian exploration assets are less accessible.”
THB last traded at 1.9cps.
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