Felix Gold pulling out all the stops to produce antimony by end of 2025

Felix Gold is keeping up the pace at its Treasure Creek antimony project in Alaska with the start of a gravity survey.

Felix Gold is racing towards producing antimony at Treasure Creek before the end of 2025. Pic: Getty Images.

• Felix Gold starts gravity survey as part of push towards near-term antimony production at Treasure Creek

• Company to also start IP survey and drill program to extend existing high-grade zones and test new targets

• Work ongoing for engineering to support possible small-scale production and metallurgical testing to optimise recovery

Special Report: Felix Gold is taking concrete steps towards becoming a potential antimony producer from its Treasure Creek project in Alaska’s Fairbanks mining district before the end of this year.

The company has started a detailed gravity survey targeting the NW Array area, where previous high-grade antimony results were reported.

Prep for an upcoming induced polarisation survey to further define mineralisation controls and assist with drill targeting is now complete.

Work is also ongoing for engineering to support a possible small-scale production scenario – a feasibility study is targeted for completion end-July 2025 – and a metallurgical testing program to optimise the recovery process.

Other work on the cards for Felix Gold (ASX:FXG) includes a comprehensive drill program to underpin a JORC resource estimate that is expected to start in May 2025.

It is also advancing a comprehensive stakeholder engagement process with multiple feedback channels established for local input and has made several submissions to the US Government for funding and other project support.

Antimony prices have jumped sharply after China’s complete export ban kicked off in December last year, climbing from ~US$10,000/t in January 2024 to over US$60,000/t in March 2025.

The metal is essential for several defence applications, from ammunition and night vision goggles through to nuclear weapons, as well as being critical for manufacturing, the energy transition and electronics.

Growing confidence

Felix Gold executive director Joe Webb said there was growing confidence in the company’s pathway to near-term antimony production.

“The commencement of gravity surveys marks a significant milestone, initiating the next phase of exploration and paving the way for drilling, resource modelling, and completion of economic studies targeting the end of July 2025,” he said.

“Drilling is scheduled to begin in May, targeting a well-defined, high-grade, near-surface zone that includes 5 of the 7 best antimony intercepts globally, according to S&P Global (Sb% x Intercept metres within 50m of surface).

“Our development approach is deliberately simple, fast, and suited to small, low-impact operations, utilising mobile, modular equipment.

“The brownfield nature of Treasure Creek — with its historical production, and access to roads, power, and a skilled local workforce — helps reduce both capital intensity and development risk.”

Webb added that economic and baseline environmental studies started in September 2024 and remain on track for completion by July 2025.

“These technical workstreams are being progressed alongside early-stage community engagement to ensure our plans reflect the values and priorities of the Fairbanks region as we advance our near-term antimony production plans,” he said.

Treasure Creek project

The Treasure Creek project is a brownfields site with historical production dating back to World Wars I and II, when it supplied the US with antimony during critical wartime shortages.

It is at the top of global rankings for strong grade-thickness values, a metric which provides the best early indicator of economic potential.

The project hosts exceptional near-surface intercepts of 3m at 50.26% antimony (150.8% grade-metres) and peaks of 65.4% antimony – all at depths of less than 50m.

FXG’s current gravity survey is expected to help identify zones of massive sulphide mineralisation that could include high-grade stibnite (antimony sulphide) bodies.

It is being conducted across priority areas identified from previous drilling and trenching programs that delivered the exceptional antimony results noted earlier.

Meanwhile, the upcoming IP survey will seek to further map the electrical properties of the subsurface, a process that is expected to be particularly effective at identifying disseminated sulphide mineralisation to complement the gravity data.

These surveys will lead to the drill program that will focus on expanding the known high-grade antimony zones at NW Array and Scrafford Shear, test new targets identified by the geophysical surveys, provide material for ongoing metallurgical testing and support potential resource definition.

“The months ahead represent a period of intense activity for the company, with gravity survey results, drilling, and resource modelling expected to deliver significant technical milestones,” Webb said.

“These activities will underpin the completion of economic studies and mine permit application, creating a strong pipeline of news flow and value-driving updates as we advance this strategically important project toward development.”

This article was developed in collaboration with Felix Gold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Felix Gold pulling out all the stops to produce antimony by end of 2025