Metals Creek Resources (TSXV: MEK) is restarting its Yellow Fox project in central Newfoundland’s gold belt. This decision follows a rise in antimony prices and China’s upcoming export restrictions. The project is 27 km northeast of the Beaver Brook antimony mine.
Antimony is a key element in defense and electronics. China, which produces nearly half of the world’s antimony, will start export limits on Sept. 15. This may affect supply chains, especially in the United States, which relies on these imports.
Yellow Fox is close to Beaver Brook and shows similar geological features. In 2011, Metals Creek’s initial search at Yellow Fox found high levels of gold, with the best sample at 59.41 g/t.
They also found high levels of antimony in some samples, up to 11.1%.
Recent work at Yellow Fox included checking the soil and digging trenches to better understand the minerals present. They found a mixture of minerals like pyrite, arsenopyrite, stibnite, sphalerite and galena. These minerals were in a type of rock altered by muscovite, showing similar conditions to Beaver Brook.
More detailed checks involved channel sampling, which found sections of rock with gold and antimony. One section had 0.31 g/t gold over 26.8 metres and 4.6% antimony over 1 metre.
Metals Creek is revisiting Yellow Fox due to these results and global changes in metal demand. This project could help meet the growing need for antimony, important for many industries.
Yellow Fox has not seen any drilling to date.
