Black Cat Syndicate is looking to benefit from high antimony prices as it commences drilling at Mt Clement in Western Australia.
The project has a current mineral resource estimate of 13,200 tonnes at 1.7 per cent antimony (Sb) and an exploration target of 47,000–103,000 tonnes at 1.2–1.9 per cent Sb.
Black Cat is keen to capitalise on antimony’s price surge – currently sitting at around $US22,815 per metric tonne – through the extension of the current resource.
With drilling now underway at the project, located 30km southwest of the Paulsens gold mine in the Ashburton Basin, the company said they have been given a “truly exciting” opportunity to further explore one of the country’s most under-explored regions.
“This program aims to expand one of Australia’s largest and highest-grade antimony deposits,” Black Cat managing director Gareth Solly said.
“Along with imminent exploration, significant metallurgical test work is being completed to accelerate our resources and processing studies. These activities are aligned with our more gold (and antimony), sooner strategy.”
The work at Mt Clement will assist in the supply of the critical mineral, with the CSIRO stating that global antimony demand is outpacing supply – with Australia placed to potentially become a strategic global supplier.
“Today, antimony is prized for its industrial might. In the modern world of critical minerals, antimony is becoming one of the most strategically important elements,” CSIRO said in a statement.
Russia, China and Tajikistan make up 90 per cent of global antimony production, with Western nations said to be facing growing supply vulnerability due to export restrictions and geopolitical tensions.