Antimony Resources hits all-time high as it preps first resource in New Brunswick

Antimony Resources (CSE: ATMY) has taken initial steps to advance the Bald Hill deposit in New Brunswick towards its initial mineral resource. Shares hit a record high.

In an update on Tuesday, the Canadian junior said it’s completing a 10,000-metre resource definition drill program at the project’s main zone and has hired Toronto-based SRK Consultants for the resource estimation.

So far, about half of the drilling has been completed, with the remaining to be done in April, the company said in the release. It will take around three to four weeks for final assays of mineralized samples to arrive, it added. 

Shares of ATMY rose more than 10% to hit an all-time high of $1.59 by mid-Tuesday in Toronto, taking its market capitalization to nearly $150 million.

“Our field crews and on-site staff have been successful in identifying new areas of antimony-bearing stibnite,” Antimony Resources CEO Jim Atkinson said. “Our 2026 exploration program will further explore these areas.” 

High grades

Discovered in 2008, Bald Hill represents a well-known, high-grade deposit that stretches over a distance of 700 metres and to a depth of 400 metres. The mineralization has average widths of over 3 metres and grades ranging between 3-4%. The project is one of several gaining exposure in New Brunswick, including a potential restart of the Lake George antimony mine which Hecla Mining (NYSE: HL) closed in 1996, as officials streamline permitting.   

ATMY noted that the Bald Hill property is not restricted to just this one deposit. At least three additional occurrences of stibnite have been identified outside the main deposit across the 20-sq.-km project area.

At the same time, ATMY is also developing a 3-D model of the Bald Hill mineralization to support the determination of the resource estimate as well as the development of drill targets during the definition drilling.

The project was the subject of a 2025 technical report by JPL Geoservices, which did not disclose a resource but detailed potential quantities of nearly 28 million tonnes grading 3-4% antimony. ATMY said it has yet to conduct sufficient work to confirm this resource.