US Antimony Supply Risk Spurs Resolution Minerals’ Bold Move in Idaho
Resolution Minerals Limited has secured the Horse Heaven Project in Idaho, adjacent to the major Stibnite Gold Project, aiming to address critical US antimony supply shortages with a planned 2025 drilling campaign.
- Acquisition of Horse Heaven Project next to Perpetua Resources’ $2B Stibnite Gold Project
- Project covers 699 federal mining claims with historical antimony, gold, silver, and tungsten production
- Strong 2022-23 sampling results with high-grade mineralization including 19.15% antimony
- Planned 2025 deep drilling program to confirm and expand mineral resources
- Favorable US government policies and potential Department of Defense funding support
Strategic Acquisition in Idaho’s Critical Minerals Hub
Resolution Minerals Limited (ASX, RML) has entered into a binding agreement to acquire the Horse Heaven Antimony-Gold-Tungsten Project, a significant move positioning the company alongside one of North America’s largest antimony projects. Located in Valley County, Idaho, the Horse Heaven Project shares its eastern boundary with Perpetua Resources’ Stibnite Gold Project, a Nasdaq-listed operation with a market capitalization around A$2 billion.
The Horse Heaven Project spans over 5,600 hectares across 699 federal lode mining claims, encompassing historically productive zones such as Golden Gate and Antimony Ridge. These areas have yielded antimony, gold, silver, and tungsten in past mining campaigns dating back to World War I and continuing intermittently through the mid-20th century.
High-Grade Mineralization and Exploration Potential
Recent rock sampling programs conducted in 2022 and 2023 have returned compelling results, including gold grades up to 5.9 grams per tonne, antimony concentrations reaching 19.15%, silver at 367 grams per tonne, and tungsten at 230 grams per tonne. These findings underscore the project's potential as a multi-commodity critical minerals source.
Historical drilling, though shallow and primarily targeting oxide mineralization, confirmed gold mineralization from surface. The company plans an intensive deep drilling program in 2025, aiming to delineate sulphide gold mineralization at depth, which remains largely untested. This approach mirrors the geological model of the adjacent Stibnite Project, an intrusion-related gold system known for its high-grade deposits.
Capital Raising and Acquisition Terms
The acquisition consideration includes a $1 million cash payment alongside the issuance of over 444 million fully paid ordinary shares and more than 222 million options to the vendors. Concurrently, Resolution Minerals has secured firm commitments to raise $1.9 million through a placement, reinforcing its financial capacity to advance exploration activities.
The project is encumbered by three separate royalties, totaling up to 8%, with buyback options on portions of these royalties. Completion of the acquisition remains subject to due diligence, shareholder approval, regulatory consents, and other customary conditions.
Favorable US Policy Environment and Strategic Importance
Horse Heaven’s development is buoyed by strong US government support for critical minerals, particularly antimony, which is essential for national security and clean energy technologies. The US currently lacks domestic antimony production, relying heavily on imports controlled by China, Russia, and Tajikistan. Recent export restrictions by China have intensified supply concerns, prompting executive orders and legislative initiatives to expedite domestic critical mineral projects.
Programs like FAST-41 fast-track permitting for critical mineral projects, including the neighboring Stibnite Mine, which has received up to US$74 million in Department of Defense funding. Resolution Minerals aims to leverage these favorable policies and potential non-dilutive funding to fast-track Horse Heaven’s development, addressing a pressing national security and industrial supply gap.
Next Steps and Outlook
Resolution Minerals plans to commence a 20-hole core drilling program in 2025, targeting both gold and antimony mineralization. Additional geophysical surveys, metallurgical testing, and permitting activities are underway to support an expanded drill campaign in 2026. The company envisions a maiden resource estimate and a preliminary economic assessment by 2027, setting the stage for potential production aligned with US strategic mineral needs.
With a seasoned management and technical team experienced in North American exploration and permitting, Resolution Minerals is well-positioned to advance Horse Heaven from exploration to development, capitalizing on its adjacency to a world-class project and the growing demand for critical minerals.
Bottom Line?
As Resolution Minerals embarks on drilling at Horse Heaven, the race to secure a domestic antimony supply in the US intensifies, with national security and clean energy imperatives at stake.
Questions in the middle?
- Will the 2025 drilling confirm economically viable antimony and gold resources at depth?
- How quickly can Resolution Minerals navigate permitting and secure Department of Defense funding?
- What impact will evolving US critical minerals policies have on project development timelines and economics?
