Canstar's High-Grade Antimony Showings, Including 74% Sb, at Golden Baie Highlight Potential Critical Minerals Upside as Price Rises on China's Export Restrictions
Canstar Resources has reported high-grade antimony findings at its Golden Baie project, located 89 km southwest of the Beaver Brook Antimony Mine. Highlights include bedrock and channel samples assaying between 20.4% and 74.4% antimony (Sb) with up to 24.1 g/t gold at the Le Pouvoir prospect. China's impending antimony export restrictions, effective September 15, 2024, have heightened the significance of these discoveries. The restrictions are expected to cause supply disruptions and price increases, with antimony prices already having doubled this year. Canstar has also staked an additional 1,100 hectares of prospective claims and continues to explore other high-grade antimony occurrences at the Swanger's Cove prospect.
Canstar Resources ha riportato significative scoperte di antimonio ad alto grado nel suo progetto Golden Baie, situato a 89 km a sud-ovest della miniera di antimonio Beaver Brook. I punti salienti includono campioni di roccia e canali con contenuti di antimonio (Sb) compresi tra il 20,4% e il 74,4% e fino a 24,1 g/t di oro nel prospetto Le Pouvoir. Le imminenti restrizioni cinesi all'esportazione di antimonio, che entreranno in vigore il 15 settembre 2024, hanno aumentato l'importanza di queste scoperte. Si prevede che le restrizioni causino interruzioni nella fornitura e aumenti dei prezzi, con i prezzi dell'antimonio che sono già raddoppiati quest'anno. Canstar ha anche registrato ulteriori 1.100 ettari di richieste prospettiche e continua a esplorare altre occorrenze di antimonio ad alto grado nel prospetto di Swanger's Cove.
Canstar Resources ha informado sobre hallazgos de antimonio de alta ley en su proyecto Golden Baie, ubicado a 89 km al suroeste de la mina de antimonio Beaver Brook. Los puntos destacados incluyen muestras de roca y canal que analizan entre 20.4% y 74.4% de antimonio (Sb) con hasta 24.1 g/t de oro en el prospecto Le Pouvoir. Las inminentes restricciones a la exportación de antimonio en China, que entrarán en vigor el 15 de septiembre de 2024, han elevado la importancia de estos descubrimientos. Se espera que las restricciones provoquen interrupciones en el suministro y aumentos de precios, con precios que ya se han duplicado este año. Canstar también ha registrado 1,100 hectáreas adicionales de reclamos prospectivos y continúa explorando otras ocurrencias de antimonio de alta ley en el prospecto Swanger's Cove.
Canstar Resources는 비버 브룩 안티몬 광산에서 남서쪽으로 89km 떨어진 Golden Baie 프로젝트에서 고품질 안티모니 발견을 보고했습니다. 하이라이트로는 Le Pouvoir 전망에서 20.4%에서 74.4% 사이의 안티모니(Sb) 함량과 24.1 g/t까지의 금이 포함된 암반 및 채널 샘플이 있습니다. 중국의 안티몬 수출 제한이 2024년 9월 15일부터 시행될 예정이어서 이러한 발견의 중요성이 높아졌습니다. 이 제한으로 인해 공급 차질과 가격 상승이 예상되며, 올해 안티몬 가격은 이미 두 배로 증가했습니다. Canstar는 추가로 1,100헥타르의 잠재적 청구권을 확보했으며, Swanger's Cove 전망에서도 고품질 안티모니 발견을 탐색하고 있습니다.
Canstar Resources a rapporté des découvertes d'antimoine de haute qualité dans son projet Golden Baie, situé à 89 km au sud-ouest de la mine d'antimoine Beaver Brook. Parmi les faits saillants, on trouve des échantillons de roches et de canaux comportant entre 20,4 % et 74,4 % d'antimoine (Sb) avec jusqu'à 24,1 g/t d'or sur le prospect Le Pouvoir. Les restrictions imminentes sur les exportations d'antimoine en Chine, qui entreront en vigueur le 15 septembre 2024, ont accentué l'importance de ces découvertes. Ces restrictions devraient entraîner des perturbations d'approvisionnement et des augmentations de prix, les prix de l'antimoine ayant déjà doublé cette année. Canstar a également enregistré 1 100 hectares supplémentaires de revendications prospectives et continue d'explorer d'autres occurrences d'antimoine de haute qualité sur le prospect Swanger's Cove.
Canstar Resources hat hochgradige Antimonfunde in seinem Projekt Golden Baie gemeldet, das 89 km südwestlich der Beaver Brook Antimonmine liegt. Zu den Highlights gehören Gesteins- und Kanalproben, die zwischen 20,4 % und 74,4 % Antimon (Sb) mit bis zu 24,1 g/t Gold im Prospekt Le Pouvoir aufweisen. Die bevorstehenden Antimon-Exportbeschränkungen Chinas, die am 15. September 2024 in Kraft treten, haben die Bedeutung dieser Entdeckungen erhöht. Es wird erwartet, dass die Beschränkungen zu Versorgungsunterbrechungen und Preiserhöhungen führen, da die Antimonpreise in diesem Jahr bereits verdoppelt wurden. Canstar hat außerdem zusätzliche 1.100 Hektar potenzieller Ansprüche gesichert und setzt die Erkundung weiterer hochgradiger Antimonvorkommen im Prospekt von Swanger's Cove fort.
- High-grade antimony findings with assays up to 74.4%
- Gold assays up to 24.1 g/t at the Le Pouvoir prospect
- Additional 1,100 hectares of prospective claims staked
- Increasing antimony prices due to China's export restrictions
- Potential supply disruptions from China's antimony export restrictions
Toronto, Ontario--(Newsfile Corp. - September 5, 2024) - CANSTAR RESOURCES INC. (TSXV: ROX) (OTC Pink: CSRNF) Canstar's Golden Baie Project is located 89 km southwest of the past-producing Chinese-owned Beaver Brook Antimony ("Sb") Mine, which hosted a 2.2-million-tonne deposit grading
With Chinese export restrictions of antimony set to take effect September 15, 2024 the high-grade occurrences of the critical mineral on the Company's Golden Baie Project take on new significance.
High grade antimony discoveries at the Le Pouvoir Prospect include a bedrock vein with assays up to
Highlights
Antimony can be a pathfinder to gold and is targeted as part of the gold-focused exploration at Golden Baie
Canstar's gold-antimony exploration targets at Golden Baie exhibited assays of
74.4% Sb and 24.1 g/t gold in bedrock vein within 90 km of the past-producing Chinese-owned Beaver Brook Antimony MineAntimony is a critical mineral of special importance to defense and national security, and the majority of the world's production has been controlled by Russia and China
China's announced antimony export restrictions take effect September 15, increasing risk of supply shocks, given the West's high net import reliance on China and few Western sources
Antimony prices have already doubled this year, with some experts forecasting a rise to over USD
$30,000 per tonneAdditional details on the antimony showings, including photographs, maps and sampling information, are included below
*High-grade being defined as greater than
Figure 1: Le Pouvoir and Swangers Cove Sb-Au Prospects at Golden Baie
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1665/222140_40f5c68f449ad846_001full.jpg
Canstar's President & CEO, Juan Carlos Giron Jr., said, "In sufficiently high grades and quantities, antimony can create enhanced economic potential for a mine. We think the Project already displays geological and structural similarities to significant gold producers such as the Fosterville Mine in the Bendigo Zone of Australia's Victorian Goldfields, which hosts multiple gold deposits greater than 5 Moz and is analogous to Golden Baie's geological setting. These antimony showings add to our excitement about the Prospect's potential.
"As critical minerals are increasingly used as a source of geopolitical leverage—exemplified in China's impending restrictions on antimony exports—the discovery of new sources in the West is a national security imperative. I believe the junior exploration sector will continue to play a vital role in identifying new mineral resources which enhance national security and competitiveness."
Antimony's Significance to National Security
Antimony is a Critical Mineral for US and Canadian national security with special importance for the defense industry, particularly for armour-piercing ammunition and other projectiles, night vision goggles, infrared sensors, and precision optics. It is also used to produce flame-retardant materials, semiconductors, cables, and batteries.
In a move to constrain global critical mineral supply in the name of its own national security, China announced that it will restrict antimony exports starting on September 15. China is the world's largest producer of antimony, accounting for
Gracelin Baskaran, Phd, Director of the think tank's Project on Critical Minerals Security wrote, "Antimony prices are expected to rise sharply following China's announcement of export restrictions. Prices have already doubled since the start of the year, reaching an all-time high of
High-Grade Antimony Potential at Golden Baie
In 2023, Canstar geologists removed thin overburden from a portion of the semi-massive to massive stibnite vein (the host mineral for antimony and gold) at the Le Pouvoir target at Golden Baie, exposing it over approximately 25 metres of its length (Figure 2), and collected five channel samples across its width, ranging from 12 cm to 40 cm. These assayed between
Figure 2: Le Pouvoir stibnite/gold vein exposed
Cannot view this image? Visit:
https://images.newsfilecorp.com/files/1665/222140_22.jpg
Grab (rock) and soil samples are selective by nature and are unlikely to represent average grades on the property. These results are preliminary and not conclusive evidence of the likelihood of the occurrence of a mineral deposit. However, these samples indicate that there is significant antimony mineralization potential on portions of the Golden Baie Project.
The nearby Chinese-owned Beaver Brook Mine—89 km to the northeast, on care and maintenance since January 2023—processed up to 160,000 tonnes of antimony ore per year with an average grade of
An earlier sample of the Le Pouvoir vein, taken by Mountain Lake Resources Inc. in 2010, returned values of
In 2022, Canstar also dug a series of trenches on its Swangers Cove Prospect, exposing semi-massive to massive stibnite veining in three trenches. Five bedrock grab samples from these trenches assayed more than
Canstar has also encountered anomalous antimony assays in samples from its Hermitage prospect in the far western part of Golden Baie and plans to continue to test for antimony and other critical minerals, in addition to gold, during its next phase of exploration and drilling.
Figure 3: Example of the stibnite veining found at the Swangers Cove prospect
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1665/222140_40f5c68f449ad846_003full.jpg
Qualified Person Statement
Paul Ténière, M.Sc., P.Geo., Senior Vice President of Exploration for Canstar and a Qualified Person as defined in NI 43-101, has prepared and approved all scientific and technical information disclosed in this news release.
Acknowledgement
Canstar acknowledges the financial support of the Junior Exploration Assistance (JEA) Program from the Government of Newfoundland and Labrador Department of Industry, Energy and Technology, which has been a valuable contribution to the exploration programs on the Company's Buchans-Mary March and Golden Baie projects.
About Canstar Resources Inc.
Canstar Resources Inc. (TSXV: ROX) is a mineral exploration company unlocking immense potential for gold and critical minerals in Newfoundland and Labrador. Our
For further information, please contact:
Juan Carlos Giron, Jr.
President & Chief Executive Officer
Email: jc@canstarresources.com
Phone: (647) 557-3442
Website: www.canstarresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, including but not limited to the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222140
FAQ
What significant antimony findings did Canstar report at Golden Baie?
How do China's antimony export restrictions affect Canstar's prospects?
What additional exploration has Canstar undertaken at Golden Baie in 2024?
What are the implications of high-grade antimony findings for Canstar's investors?
What is the significance of antimony in national security?
