Australia’s Resolution Minerals (ASX: RML) is entering the critical minerals market in the United States with the acquisition of the Horse Heaven antimony-gold-tungsten project in central Idaho.
While Resolution is small with a market capitalization of around A$9 million (US$5.9 million) and the total deal for Horse Heaven is valued at around A$10 million, the company has focused exploration across several high-value metals in strategic jurisdictions with well-defined early-stage targets.
The brownfield Horse Heaven project in the historical Stibnite mining district borders Perpetua Resources’ (NASDAQ: PPTA, TSX: PPTA) $2-billion Stibnite redevelopment, the only known antimony reserve in the U.S.
“As many governments around the world look to onshore their supply of critical minerals, such as antimony and tungsten, we have secured a commanding ground position with known antimony occurrences and next to what is likely to become the largest antimony producer in the U.S.,” Executive Director Aharon Zaetz said in a release. “The board considers that the acquisition of the Horse Heaven project has the potential to be a transformative event.”
Shares in Resolution closed nearly 6% higher in Sydney on Wednesday at A1.9¢ apiece.
In New South Wales, it is advancing the Spur South property, where a 3.25-km magnetic anomaly suggests potential for porphyry and skarn-style gold-copper mineralization, and the Drake East project, which hosts antimony, gold and silver with past high-grade surface results. The Horse Heaven acquisition is a 57-sq.-km property that contains drill-ready targets for antimony, gold and tungsten.
Two corridors
The planned acquisition gives Resolution control of two highly prospective mineralized corridors — the Antimony Ridge Fault Zone (ARFZ) and Golden Gate Fault Zone (GGFZ). Both of these corridors host known gold, silver, antimony and tungsten mineralization associated with sheared and hydrothermally altered granodiorite.
Resolution is to acquire Horse Heaven for $1 million in cash, along with 444.8 million shares and 222.4 million options exercisable at 1.8¢ each, expiring in July 2028. The project was previously held by Stallion Uranium (TSX-V: STUD).
The move is part of Resolution’s broader push into critical minerals, with a strategic focus on antimony and tungsten, both of which have reached record high prices amid tightening export controls by China.
Chinese control
According to the U.S. Geological Survey, China accounted for 60% of global antimony production in 2024. The U.S. currently imports all of its antimony, which is vital for manufacturing solar panels, flame retardants and defence materials.
Resolution, which intends to start drilling this year, described Horse Heaven as a strategic complement to its existing Australian portfolio of antimony, gold and copper assets.
Horse Heaven’s neighbouring Stibnite project is one of 20 U.S. government-prioritized assets to be fast tracked under an executive order signed by President Donald Trump, aimed at boosting domestic critical mineral production.
With an estimated 148 million lb. of antimony, Stibnite holds one of the largest reserves of the metal outside Chinese control.
Be the first to comment on "Aussie Resolution enters US critical minerals race"