Albright Metals Confirms Gold and Antimony Growth at Golden Pike with Catalyst Deal Complete

Gold and Antimony Mineralisation Extended at Golden Pike

Albright Metals (ASX:ABR) has reported compelling drilling results from its Golden Pike Project in New Brunswick, Canada, confirming and extending both gold and antimony mineralisation. At the Albright Brook Prospect, broad gold intercepts include a standout 37.05 metres at 1.12 grams per tonne (g/t) gold starting from 60.95 metres depth, featuring high-grade zones up to 28.80 g/t Au over 0.70 metres. Antimony mineralisation was also encountered within these gold zones, with one intercept returning 0.36 metres at 3.23% antimony alongside 2.81 g/t gold.

Meanwhile, drilling at the Bond Road Prospect revealed elevated levels of gold, base metals, and antimony, accompanied by strong sericite alteration; an indicator of proximity to a mineralised system. These results underpin plans for a follow-up drill program targeting high-grade antimony and further gold extensions across the tenements.

Catalyst Metals Acquires Bryah Basin Tenements

On the corporate front, Catalyst Metals Limited (ASX:CYL) exercised its option to acquire Albright Metals’ remaining Bryah Basin tenements for $2.2 million, payable in cash and CYL shares. This transaction excludes Albright’s manganese mineral rights, retained through a joint venture with OM Holdings Limited (ASX:OMH). The sale streamlines Albright’s focus towards its Canadian assets and high-grade gold projects.

Advancing Vail Road Deposit and Environmental Engagement

Albright is progressing an updated Mineral Resource Estimate for the Vail Road gold deposit, integrating historical data and recent assay results to align with JORC standards. This update is a key step towards potential development, supported by environmental studies completed by SLR Consulting in Canada and ongoing heritage engagement with First Nations representatives. These groundwork efforts aim to smooth the path for future mining permit applications.

Financial Position and Funding Outlook

The company ended the quarter with $477,160 in cash and held liquid investments comprising 55,387 Catalyst Metals shares and 11 million Star Minerals Limited (ASX:SMS) shares. Notably, Albright received 4 million SMS shares following the commencement of mining at the Tumblegum South Gold Project, increasing its voting power in SMS to 4.34%. Operating cash outflows totalled $1.08 million for the quarter, primarily driven by $541,000 in exploration and evaluation expenditure focused on Golden Pike.

Albright maintains an At-the-Market equity facility with Acuity Capital, extended through to July 2031, providing up to $3 million in standby capital. The company acknowledges its current cash runway covers less than half a quarter but affirms plans to manage discretionary spending and leverage its liquid assets and placement capacity to fund ongoing operations.

Strategic Focus on High-Grade Gold and Emerging Antimony

CEO Greg Hill emphasised the dual potential of Golden Pike as both a high-grade gold asset and an emerging antimony opportunity. The encouraging drill results from Albright Brook and Bond Road affirm significant exploration upside, with follow-up drilling and resource updates set to build momentum. Albright’s strategic pivot towards Canadian assets, coupled with divestment of non-core tenements, signals a sharpened focus on advancing the Vail Road deposit and expanding critical mineral prospects.