Thistle Resources (TSX-V:TRCG) has started trading on the Toronto Stock Exchange Venture, as it gets started on exploration work at its Brunswick antimony project in the Bathurst Mining Camp in New Brunswick.
The company said certified trench assays at the project have returned grades of up to 10.3% antimony, 1,300 grams per tonne silver and 2.32 grams per tonne gold.
The project sits on the eastern flank of the historic Brunswick #12 Mine, one of the largest underground zinc mines ever operated, which processed 335 million tonnes of ore over more than 50 years.
Gary Lohman, Thistle’s vice president of exploration, called the project “special in many ways,” partly because of its exceptional precious metals content.
"Easily accessible, adjacent to Brunswick #12 & Brunswick #6 Mines, the mineralization occurs at surface and is accompanied by exceptional silver grades, in addition to gold," Lohman said. "Unlike other better-known antimony deposits, the significant precious metal mineralization at Thistle's antimony project in the BMC sets this project apart."
Antimony was designated one of Canada's 37 critical minerals and has emerged as a high-priority supply chain target following Chinese export restrictions imposed in 2024, which triggered price increases and supply disruptions. The metal is currently trading at approximately $53,000 per tonne and is used in military, battery, semiconductor and advanced energy storage applications.
Thistle CEO Patrick Cruickshank described antimony as "one of the most important high value critical minerals in the world. “(T)his is a very important asset for Canada and the Canadian supply chain system…Our asset is quite unique that it is not just an antimony system, but ultra high grade silver with gold."
Thistle said it has received permits for trenching and a UAV drone magnetic survey along the 10-kilometre granite contact zone, with geophysical survey work set to begin at the beginning of June.
The company holds five projects covering approximately 128 square kilometres, four in the Bathurst Mining Camp and one in Nova Scotia. Its primary projects are the Brunswick Antimony and Middle River Gold properties.