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Trigg Minerals Ltd (ASX:TMG) is set to acquire 3 new projects in New South Wales which are intended to boost its profile as an explorer and future developer of antimony plays in Australia.
The company has signed a binding purchase agreement for the Nundle, Upper Hunter and Cobark/Copeland projects – a territory stretching across 1,039.7 square kilometres in total, which includes the historic Nundle Goldfield and 3 other historic goldfields within the New England Orogen.
Crucially, the package also contains 5 historical antimony deposits, containing rock chips grading 61% Sb (antimony) and 9.7% Sb, plus 12 tonnes of recorded production of the commodity on one tenement. Within the Upper Hunter project, a sample of 37% Sb was collected from a 12 metres adit – this suggests that antimony mineralisation may also be present at depth.
Looking to gold potential, Trigg will also be picking up more than 60 mines or gold occurrences across each tenement, with high-grade gold known to have happened in the past, such as estimated production of 15,000oz at 53.8 grams per tonne (g/t) recorded at Standard Reef in 1904.
Across all tenements, historical production totalled 174,000 ounces – and this was achieved without modern mining techniques, and at much lower gold prices. Trigg has also progressed an initial review which suggests that mineralisation is open along strike and down depth, with rock chips grading between 30 g/t Au and 1,045 g/t Au.
Executive chairman Tim Morrison said the acquisition would help Trigg move further down the road to antimony and gold production.
“The acquisition of the Nundle and other Projects marks an exciting expansion for Trigg
Minerals into historically productive goldfields with strong critical mineral potential,” he said.
“The presence of both gold and antimony in this underexplored region aligns perfectly with our focus on high-value, strategically significant minerals.
“We look forward to applying modern exploration techniques to uncover new opportunities within this proven mineral province.”
Trigg plans to develop this package as a secondary exploration asset, after its Wild Cattle Creek project, also in NSW, with 2 exploration teams pushing development of both.
Trigg shares have been higher after the news, and at 13:01 AEDT, they were trading at 3.2 cents – a rise of 3.23% since the market opened.
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