Thunderbird buys strategic NSW gold/antimony project

ASX-listed Thunderbird Resources has entered into an agreement to acquire a prospective antimony and gold exploration land package in New South Wales.

The exploration portfolio is located immediately adjacent to Australia’s biggest antimony deposit – the Hillgrove project owned by fellow-listed Larvotto Resources.

Thunderbird has entered into a binding share purchase agreement with the shareholders of Kooky Resources to acquire the company. Kooky holds the EL9053 and EL9147 licences, which offer strong prospectivity for high-grade antimony and gold mineralisation.  

EL9053 lies directly adjacent to the Hillgrove project which has a mineral resource of 7.3-million tonnes at 4.4 g/t gold and 1.3% antimony for 1.04-million ounces of contained gold and 93 000 t of contained antimony.

EL9053 covers potential strike extensions of the geology and structures that host the antimony/gold mineralisation at Hillgrove.

“This proposed acquisition provides an enormously exciting, low-cost opportunity for Thunderbird to acquire highly prospective exploration tenements in the heart of Australia’s emerging antimony district,” said executive chairperson George Bauk.

“Notably, the geological structures that host Hillgrove’s deposits potentially extend north-west into Thunderbird’s newly acquired tenements, which also host numerous historical prospects and targets with significant antimony results, including 18.2% antimony,” he said.  

Antimony is classified as a critical metal and has recently experienced surging prices thanks to its role in energy transition technologies, the high-tech sector and defence. Antimony spot prices currently sit at record highs of around $25 000/t, more than double what they were 12 months ago.