Antimony Resources closes $725,000 FT financing

Executive Summary

• Antimony Resources Corp. closed a flow-through financing, issuing 2.9 million common shares at $0.25 per share for gross proceeds of $725,000.
• The company reported significant high-grade antimony drill results from its Bald Hill project, including a hole returning 14.91% Sb over 3.0 meters and another returning 9.85% Sb over 4.3 meters.
• Net proceeds will be used for exploration on the Bald Hill antimony project in New Brunswick, Canada.

Key Details

• Financing Structure:
  • Type: Flow-through financing.
  • Shares Issued: 2.9 million common shares.
  • Price: $0.25 per share.
  • Gross Proceeds: $725,000.
  • Finder’s Fee: $19,250 paid to PB Markets Inc.
  • Use of Proceeds: Exploration on the Bald Hill antimony project.
  • Hold Period: Securities subject to a statutory hold period of four months plus one day.
• Drilling Results (Bald Hill Project):
  • Hole BH-25-08: 14.91% Sb over 3.0 meters (88.8m to 91.8m), including 28.76% Sb over 1.7 meters.
  • Hole BH-25-09: 9.85% Sb over 4.3 meters (103.6m to 107.9m), including 18.19% Sb over 1.8 meters (104.6m to 106.4m).
  • Hole BH-25-05: 1.1% antimony over 14.5 meters (108.8m to 123.3m).
• Project Geology & Potential:
  • Bald Hill is a high-grade antimony deposit in southern New Brunswick.
  • Deposit outlined over 700 meters long with average widths over three meters.
  • Average grades range from 3% to 4% antimony.
  • Historical NI 43-101 report (2010) identified potential for 705,000 to 1,000,000 metric tonnes at 4% to 5% antimony.
  • Current conceptual target for the drilled area is 725,000 to 1,000,000 tonnes grading 4.11% to 5.32% Sb (approx. 30,000 to 40,000 tonnes contained antimony).
  • Technical review approved by Jim Atkinson, MSc, PGeo (Qualified Person).

Notable Quotes

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