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Highlights
- Thunderbird Resources secures extensive land near Larvotto’s antimony-rich area.
- Larvotto Resources saw gains with its Hillgrove find amid China's export curbs.
- Thunderbird aims to explore for both antimony and gold in the New England region.
Thunderbird Resources (ASX:THB) has expanded its exploration portfolio by acquiring a 488-square-kilometer land area adjacent to Larvotto Resources’ (ASX:LRV) prominent Hillgrove antimony discovery. This strategic acquisition could benefit from proximity to Larvotto's site, especially given the recent surge in interest around antimony, a mineral gaining traction since China imposed export restrictions. Larvotto experienced significant market interest following China’s decision, with the discovery at Hillgrove propelling its share value.
Antimony, considered a critical mineral, plays an essential role in the global market, although China’s influence may be less significant than anticipated, as the country focuses on preserving its dwindling domestic resources. Australia, notably the largest exporter of antimony ores as of 2022, holds its position firmly in the market. This backdrop has intensified exploration interest, with multiple entities exploring small-scale sites rich in critical minerals like antimony.
Thunderbird’s newly acquired EL9053 permit is situated adjacent to Larvotto’s Hillgrove property, offering potential “nearology” benefits. This permit covers ground that has already shown promising results, with prior sampling returning notable grades of 18.2% antimony and 76 grams per ton (g/t) gold. Geologically, these sites lie within the New England Orogen in New South Wales, a region currently witnessing renewed exploration interest.
In addition to antimony, Thunderbird has highlighted that its new landholdings may also be prospective for gold. Notably, its EL9147 permit encompasses historical gold reef sites in the Kookabookra gold field, a region known for high-grade gold production. The geological structures that host mineral deposits at Hillgrove appear to extend northwest, potentially crossing into Thunderbird’s newly acquired tenements, where historical exploration has yielded significant antimony and gold findings.
Thunderbird’s Executive Chairman, George Bauk, commented on the recent acquisition, emphasizing the potential of the Hillgrove-adjacent area to host extensive antimony systems. He also highlighted the strategic advantage of these tenements in maintaining exploration activities year-round, providing steady development opportunities, especially as winter approaches in the northern hemisphere, limiting operations on Thunderbird’s Canadian assets.
With this expansion, Thunderbird Resources is positioning itself among notable players in the antimony and gold exploration sectors. The company last traded at 1.9 cents per share, a value that reflects the growing interest in this strategic land addition near one of the region’s promising antimony sources.
