New Discovery at the US Stibnite Gold-Antimony Mine

Perpetua Resources announced on the 6th that it has delineated multiple gold-antimony exploration targets at the Stibnite project in Idaho, potentially expanding the permitted pit boundaries, and has identified tungsten ore clues, according to Mining.com.

Tungsten is a critical mineral with the highest melting point of all metals and extremely high density, making it an indispensable material for heavy industry, aerospace engineering, advanced electronics, and weapons such as armor-piercing projectiles.

The US ceased tungsten production in 2015. The US had been mining tungsten ore, but low tungsten prices made it difficult to profit from continued mining.

"Our focus is on drilling areas that align with the currently planned mining sequence and have the potential to directly add value," said Jon Cherry, CEO of Perpetua Resources.

"Our priority target is to confirm higher-grade gold-antimony zones within the three permitted pits, supplement our current Stibnite gold project resources, and sustain or exceed our estimated annual target of 463,000 ounces after four years of production."

The company stated that recent drilling between the Yellow Pine and West End pits continues to show significant indications of new ore bodies, including multiple high-grade gold intercepts and a new gold-tungsten discovery.

Significant high-grade gold mineralization, including a gold-tungsten occurrence, was encountered at the Clark Tunnel Fault Zone (CTFZ) on the southeastern margin of the planned Yellow Pine pit. Perpetua Resources noted that drilling underway at the CTFZ also intersected the tungsten-bearing mineral scheelite.

Huckleberry Fault Zone (HFZ)

Gold mineralization was encountered in multiple wide-spaced drill holes and surface samples at the HFZ. Immediately adjacent to the Yellow Pine pit boundary, the HFZ is over 100 meters wide and has been traced along strike for 500 meters, with historical data suggesting the potential for high-grade lenses.

At the Hangar Flats deposit, drilling of the NDMEA segment again discovered high-grade gold, while drilling at the Hangar Flats deposit targeting critical minerals encountered significant antimony and tungsten mineralization.

Perpetua Resources indicated that these results collectively point to increased potential for expansion beyond the current resource envelope. The project currently hosts indicated and inferred gold resources of 3.1 million ounces and 99.8 million pounds of antimony.

These targets are all based on previous drilling, historical mining activity, and recently delineated prospectivity areas across the entire property, and the company noted that any activities beyond the currently permitted footprint would be subject to additional regulatory review.