- GoldMining Inc. (GLDG, Financial) identifies significant antimony mineralization at Crucero Project in Peru.
- Antimony prices surge from US$11,600 to US$55,250 per tonne in 2024.
- Crucero Project boasts 993,000 oz gold indicated and 1,147,000 oz gold inferred.
GoldMining Inc. (TSX: GOLD, NYSE: GLDG) has announced the identification of significant antimony mineralization at its 100% owned Crucero Project in the Carabaya Province, Peru. This discovery comes in addition to the previously established robust gold deposits at the site.
The Crucero Project is reported to have an indicated resource of 30.65 million tonnes at 1.0 g/t Au, amounting to 993,000 ounces of gold, and an inferred resource of 35.78 million tonnes at 1.0 g/t Au, containing 1,147,000 ounces of gold. Notable drill intercepts include 44.37 g/t gold equivalent (AuEq) over 7 meters and 2.79 g/t AuEq over 79 meters, highlighting substantial mineral potential.
The significance of this finding is amplified by the dramatic rise in antimony prices, which have increased from approximately US$11,600 per tonne at the start of 2024 to about US$55,250 per tonne. This uptick is attributed to antimony's classification as a critical strategic metal, fueled by its applications in battery technology, semiconductors, and defense industries.
The project database for Crucero contains assay data for 72 drill holes and 657 trench assays, with over 15,000 gold assays and more than 10,000 antimony assays available for further analysis. This data underscores the potential for enhanced project economics through dual-metal production at the site.
The discovery positions GoldMining Inc. strategically, particularly as Western governments seek secure antimony supply sources due to geopolitical tensions influencing global supply chains.
