Equinox Resources to explore Canadian project with historical antimony mining

Equinox Resources (ASX: AQN) is set to begin due diligence on the Alps-Alturas project in the Slocan mining district of southeast British Columbia, a site known for its high-grade antimony ore.

Historical records show that between 1915 and 1926, the project yielded 105 tonnes of ore with an average antimony grade of 57.2%. Some of this ore contained up to 59.5% antimony.

The mineralization at the project is found within an east-west shear zone, with stibnite veins reaching widths of up to 1.2 metres and antimony grades of up to 59.5%. This zone remains open along strike and depth, suggesting significant potential for further exploration. Additionally, the 1.3-km mineralized zone features silver grades reaching up to 1,595.7 g/t.

Historical exploration efforts seem to have focused on near-surface adits and shallow workings, leaving deeper and lateral extensions largely unexplored.

Equinox managing director Zac Komur highlighted the project’s exceptionally high antimony grades and the substantial underexplored potential. “The favourable option terms also provide us with the flexibility to conduct thorough due diligence, ensuring the project meets our investment criteria before committing to full acquisition.”

Under the option agreement with private individual J. Bakus, Equinox has 12 months to decide whether to acquire the three tenements that constitute the Alps-Alturas project. The agreement involves an initial payment of C$29.6 million with the option to complete the acquisition for C$184.8 million.

Antimony has recently surged in importance due to China’s export restrictions, which have heightened concerns over potential supply shortages. Prices for antimony have doubled in 2024 to approximately $24,000 per tonne.

The critical mineral is widely used in flame retardants, lead-acid batteries, glass manufacturing and as an alloy in ammunition. Its role extends to military applications, including infrared missile guidance systems, night vision equipment and nuclear weapons.