Resolution Minerals has acquired three antimony-focused exploration projects in New South Wales and Queensland. The newly acquired projects cover 194 square kilometers and also hold potential for gold and copper mineralisation.
As part of the deal, Resolution Minerals will secure 100% ownership of exploration licenses L9730, L9719, L9720, and APM29111. The acquisition terms include issuing 25 million shares at 0.01 cents per share in two tranches and a cash payment of $70,000 within 20 days of the ASX announcement.
Among the key assets, the Drake East Project in New South Wales contains high-grade antimony, gold, and silver mineralisation, with recorded results of 5.72% antimony, 60.00 grams per ton gold, and 214.00 grams per ton silver. Additionally, it hosts a non-JORC-compliant placer gold deposit of 300,000 cubic metres at one gram per ton gold.
The Neardie Project in Queensland features historic high-grade antimony mines, with past sampling reaching up to 19.50% antimony. Meanwhile, the Spur South Project, located within the Macquarie Arc, remains underexplored but is in a well-known gold-copper region.
With global antimony prices surging 250% in 2024, Resolution Minerals sees strong potential to develop these assets and create value for shareholders.
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