Equinox Resources (ASX: EQN) strikes ultra-high-grade antimony in Canada, poised to capitalise on market disruption

Equinox Resources (ASX:EQN) has reported ultra-high-grade antimony assay results from its maiden sampling program at the Alturas Project in British Columbia, Canada.

With rock chip samples yielding up to 69.98% antimony (Sb), the results put this project among the highest-grade natural stibnite occurrences globally.

Equinox Resources aggressive land expansion and strategic timing could provide a new antimony supply source as China tightens its grip on exports, further constraining global availability.

Key Highlights:

• Rock chip assays returned outstanding results, including 69.98% Sb, 67.96% Sb, and 49.98% Sb.
• Recent export controls by China, the world’s largest antimony supplier, have pushed prices to a record US$36,000 per metric ton.
• Equinox has expanded its landholding by 3.3 km² to target additional mineralised zones within the Slocan Mining Division.

Managing Director Zac Komur noted, “These exceptional grades highlight the immense potential of the Alturas Project. With rock chip samples showing concentrations close to pure stibnite (71.4% Sb), we are confident this is a world-class asset capable of addressing critical supply needs.”

China’s recent restrictions on antimony exports have driven prices up by 50% since Equinox secured the option agreement in September 2024.

This timing places Equinox in a favourable position as demand for this critical mineral intensifies.

Antimony is essential in defence applications such as ammunition and missile guidance systems, as well as in the production of fire retardants and lead-acid batteries—key components for renewable energy systems.

A Strategic Expansion in a Supply-Constrained Market

Equinox’s latest move to stake an additional 3.3 km² at Alturas aligns with the company’s strategy to secure high-priority ground extensions.

The expansion targets the 1.5 km shear zone that forms the main mineralising structure within the project area.

Historical data from the Alps-Alturas mine, which operated from 1916 to 1926, reported antimony grades averaging 57.2%, underscoring the high-grade nature of the district.

Komur stated, “By expanding our footprint, we are positioned to explore beyond the known mineralisation. The discovery of a copper-bearing zone, grading up to 0.96% Cu, adds further upside potential, indicating broader polymetallic opportunities at depth.”

A Critical Resource in a Geopolitical Hotspot

The heightened strategic importance of antimony, classified as a critical mineral by the Australian government, cannot be overstated.

The metal’s applications in high-tech and green energy sectors make it a linchpin for future-proofing supply chains.

With China controlling nearly half of the global antimony output, Equinox’s Alturas Project may emerge as a vital alternative source for Western markets seeking supply security.

Patrick McLaughlin, the Competent Person overseeing the exploration program, expressed confidence in the continuity of high-grade mineralisation, supported by the systematic sampling approach. “The assay results are consistent with the geological expectations for this deposit type, showing both high-grade stibnite and potential for additional mineralisation along the shear zone,” McLaughlin confirmed.

Next Steps: Strategic Drilling and Market Watch

Equinox is preparing for an extensive drill campaign aimed at testing the lateral and vertical extensions of the high-grade zones.

Further geophysical surveys are planned to refine exploration targets and identify deeper structures.

With assay results from the company’s rare earth exploration projects in Brazil also pending, Equinox appears set for a robust end to 2024.

For investors keeping an eye on critical minerals, the Alturas Project represents a unique case of high-grade potential backed by favourable market conditions and an experienced exploration team.

As antimony prices surge, Equinox’s timely expansion and promising assay results may well place the company at the forefront of the next wave of critical mineral suppliers.

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