Original News Release
Antimony Resources closes $725,000 FT financing
Mr. Jim Atkinson reports
ANTIMONY RESOURCES CORP. (ATMY) (K8J0) CLOSES FLOW THRU FINANCING
Antimony Resources Corp. has closed the flow-through financing. Antimony Resources issued 2.9 million common shares at a price of 25 cents for gross proceeds of $725,000. All securities issued in connection with the offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation. The company paid a finder's fee of $19,250 to PB Markets Inc. The company will use the net proceeds from the offering for exploration on its Bald Hill antimony project located in New Brunswick, Canada.
About Antimony Resources' Bald Hill antimony project
Highlights from drilling:
Bald Hill is a high-grade antimony deposit in southern New Brunswick;
Outlined an antimony deposit over 700 metres long;
Widths average over three metres, and grades average 3 per cent to 4 per cent antimony;
Drill hole BH-25-08 returned 14.91 per cent Sb over 3.0 metres at a depth of 88.8 to 91.8 m, including massive antimony stibnite, which returned 28.76 per cent Sb over 1.7 metres;
Drill hole BH-25-09 returned 9.85 per cent Sb over 4.3 metres from 103.6- to 107.9-metre depth, including 18.19 per cent Sb from 104.6- to 106.4-metre depth;
Drill hole BH-25-05 returned 1.1 per cent antimony over 14.5 metres at a depth of 108.8 to 123.3 metres;
Historical National Instrument 43-101 technical report: potential quantity and grade of the drilled area, which is the target of its exploration, are in the 725,000- to one-million-tonne range grading 4.11 per cent to 5.32 per cent Sb (approximately 30,000 to 40,000 tonnes contained antimony);
Potential to expand based on additional known targets.
A historical NI 43-101 technical report, prepared by CRA in 2010, identified the potential for between 705,000 and one million metric tonnes at an average grade between 4 per cent and 5 per cent antimony. Antimony has not completed enough work to confirm this estimate. The potential quantity and grade are conceptual in nature as there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
The technical contents of this news release were reviewed and approved by Jim Atkinson, MSc, PGeo, who is a qualified person as defined by National Instrument 43-101.
Antimony Resources is a exploration and development company focused exclusively on antimony. The company's management team possesses extensive experience in financing, exploration, development and mining. The company is focused on becoming a significant North American producer of antimony.
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