New Age Metals Completes Phase 1 Antimony-Gold Field Reconnaissance Exploration

Core Insights - New Age Metals Inc. (NAM) has completed its Phase 1 field reconnaissance exploration program on its Sb-Au properties in Newfoundland, confirming the region's potential for mineralization [1][3][4] - The antimony market has experienced a significant supply shock due to China's export restrictions, leading to a price surge above $60,000 per metric tonne, which has quadrupled over the past year [2][23] - Gold prices have also risen sharply, reaching up to $3,500 per ounce, driven by global uncertainties and increased demand from central banks and retail investors [24][25] Company Developments - The Phase 1 program involved the collection of 286 rock samples and mapping of 63 geopoints, documenting various geological features across NAM's properties [3][5] - Initial field results indicate the presence of high-grade antimony-quartz veins and widespread sulfide-bearing quartz systems, validating NAM's exploration strategy [3][4] - The company is currently awaiting assay results from the Phase 1 samples to guide the next phase of exploration [5] Market Context - China's antimony export ban has created a critical supply shortage, as approximately 70% of the world's antimony is produced or refined in China [2][23] - Central banks have significantly increased their gold purchases, adding 244 tonnes to global reserves in Q1 2025, indicating strong demand for gold as a strategic asset [24] - The convergence of high gold and antimony prices highlights the strategic importance of these metals in the current economic landscape [25] Strategic Positioning - NAM's properties cover approximately 19,800 hectares across 11 non-contiguous sites, strategically located near the Beaver Brook Antimony Mine and New Found Gold's Queensway South Gold Project [26] - The company is actively seeking to expand its mineral acquisition opportunities and is focused on developing its critical metal projects in North America [29][33]