- Junior antimony stock Churchill Resources (TSXV:CRI) more than doubled after assaying up to 35.1 per cent antimony at its Frost Cover mine and 14.4 grams per ton of gold at its Stewart mine in samples from its Black Raven property in Newfoundland
- Churchill is a Canadian exploration company focused on critical minerals in Newfoundland & Labrador
- Churchill Resources stock has given back 41.67 per cent year-over-year and 78.13 per cent since 2020
Junior antimony stock Churchill Resources (TSXV:CRI) more than doubled after assaying up to 35.1 per cent antimony at its Frost Cover mine and 14.4 grams per ton of gold at its Stewart mine in samples from its Black Raven property in Newfoundland.
According to Thursday’s news release, Black Raven is located 60 kilometres northwest of Gander and about 100 kilometres north of the Beaver Brook antimony mine, which management believes to be on track for re-opening and in need of more deposits like Black Raven to feed the mill.
Although Frost Cove’s antimony veins and host felsic dyke have been traced over 800 metres on surface, including numerous historical samples grading over 1 per cent antimony, neither it nor the Stewart gold mine have been drilled.
For a little background, antimony is a critical mineral for defense and technological applications, including in the military, battery and broader energy-storage sectors, but is currently at risk with over 90 per cent of production controlled by China and Russia, both conflict-prone nations.
Churchill is keen on demonstrating Black Raven’s potential as a reliable source of antimony, with upcoming summer exploration positioning it to harvest value from prices exceeding US$50,000 per ton after Chinese export restrictions in late 2024.
Though prices may normalize following a China-United States trade agreement in June, antimony’s long-term prospects are expected to combine rising demand with a worsening deficit, placing explorers and developers with promising assets front-and-centre to shore up global supply.
Leadership insights
“These high-grade results confirm our expectations,” Paul Sobie, Churchill Resources’ chief executive officer, said in a statement. “Our antimony sampling was from the hanging wall and footwall veins in the upper historical adit at Frost Cove. Previous historical sampling returned 30 per cent antimony and 28.27 g/t gold over 0.43 metres, 320 metres south of this adit, suggesting that conditions that produced ultra-high-grade antimony concentrations may exist over an area covering multiple veins with significant lengths. These grades place Frost Cove among the highest-grade antimony projects globally. Churchill is immediately commencing its summer surface exploration program, with follow-up work at Frost Cove and Stewart through trenching and channel sampling (at surface and in the workings at Frost Cove), as well as systematic mapping and sampling of the complete mineralized package.”
About Churchill Resources
Churchill Resources is a Canadian exploration company focused on critical minerals in Newfoundland & Labrador. Its portfolio includes the untapped Florence Lake nickel project and Taylor Brook nickel-copper-cobalt-vanadium-titanium project.
Churchill Resources stock (TSXV:CRI) is up by 133.33 per cent trading at C$0.035 as of 11:45 am ET. The stock has given back 41.67 per cent year-over-year and 78.13 per cent since 2020.
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