Felix Gold Drills 15.7m at 5.1% Sb, Targets Production by Early 2026

Strategic Antimony Discovery Amid Global Supply Crisis

Felix Gold Limited (ASX – FXG) has announced a breakthrough in its Treasure Creek Project in Alaska, revealing very high-grade antimony mineralisation at the NW Array prospect. The company reported drill results including a standout intersection of 15.7 metres grading 5.1% antimony, with peak assays reaching nearly 25% Sb in narrow intervals. This comes alongside the surface exposure of a massive 25-metre stibnite vein, open both along strike and at depth, providing immediate access to high-grade material.

These developments are particularly timely given the ongoing global antimony supply shortfall exacerbated by China's export ban to the United States, which has historically been the dominant supplier. With China and Russia controlling over 90% of global production and the US reliant on imports for nearly 100% of its antimony needs, Felix Gold's discoveries position it as a potential strategic domestic supplier.

Fast-Track Development and US Government Engagement

Felix Gold is advancing a low-capital, modular development pathway aiming for potential production as early as Q4 2025 to Q1 2026. The company is focusing on a small-scale, surface mining approach that leverages direct access to high-grade mineralisation and existing infrastructure near Fairbanks, Alaska. This strategy is designed to reduce geological and environmental risks, accelerate timelines, and minimize capital intensity.

In parallel, Felix has commenced engineering work on US-based smelting facilities for antimony metal production, with active site selection discussions underway with the US government. This collaboration aligns with federal priorities to secure critical mineral supply chains, highlighted by recent executive orders and funding initiatives aimed at boosting domestic production of strategic materials.

Geological Insights and Ongoing Exploration

The Treasure Creek Project hosts multiple antimony and gold prospects, with mineralisation primarily occurring as stibnite veins and breccia zones within Devonian-age metasedimentary schists and Cretaceous felsic intrusions. Felix's drilling program has identified two main mineralisation styles – quartz-stibnite veins and breccia zones with disseminated stibnite. The newly discovered breccia zone extends 150–200 metres along strike and remains open for further expansion.

Drilling and trenching continue, with assays pending from dozens of holes, promising to refine the resource model and support feasibility studies. Metallurgical testwork has already demonstrated compliance with military-grade specifications, reinforcing the project's potential for strategic applications.

Market Context and Strategic Importance

Antimony is critical for defense, clean energy, and industrial applications, including military munitions, solar panel glass, and advanced electronics. The metal's price has surged from around US$11,000 to over US$60,000 per tonne in the past year, reflecting tight supply and limited substitution options.

Felix Gold's progress comes at a moment when the US government is mobilising unprecedented support for domestic critical mineral production, including funding, fast-track permitting, and offtake agreements. The company's proximity to infrastructure and rapid development pathway offer a compelling opportunity to address the strategic supply gap.