High-Grade Antimony Potential Draws Attention as Bubalus Resources Set to Drill Near Fosterville
Bubalus Resources (ASX:BUS) has announced the imminent commencement of a maiden drilling program at its Crosbie North gold-antimony prospect, located just 15 km from Agnico Eagle's world-class Fosterville Gold Mine in Victoria. The high-grade antimony potential of this project has generated significant interest among investors looking for exposure to this critical mineral.
The company's strategic focus on antimony alongside gold is particularly timely, as global demand for this strategic metal continues to grow due to its applications in flame retardants, batteries, and military equipment.
Diamond Drilling to Test Fosterville-Like Targets
Bubalus Resources has contracted a diamond drill rig that will mobilise to site in late September to test compelling targets identified through recent exploration work. The multi-target drilling campaign will consist of up to 7 diamond drill holes for approximately 1,000 metres, targeting high-priority geophysical and geochemical anomalies.
"Having recently announced enhancements to these compelling targets at Crosbie North via a recent IP geophysical survey, we are excited to quickly move to drill test them over the coming weeks," stated Managing Director Brendan Borg.
The company has secured funding to advance projects through this drilling phase, ensuring they can thoroughly test these promising targets without immediate capital constraints.
Why Antimony Matters: A Critical Mineral in Short Supply
The high-grade antimony component of the Crosbie North prospect represents a significant value-add to the project. Antimony is classified as a critical mineral by many governments worldwide due to its limited supply sources and important applications.
Surface rock chip samples at Crosbie North have returned up to 12.1 g/t gold and impressively, 2.02% antimony. These high-grade antimony values are particularly noteworthy as:
- Global antimony production is heavily concentrated in China
- Few primary antimony deposits exist outside China
- The metal is essential for numerous industrial and defence applications
- Supply constraints have led to significant price volatility
Furthermore, the geological association between gold and antimony at Crosbie North mirrors that seen at Fosterville, where antimony minerals (particularly stibnite) are closely associated with high-grade gold zones.
Geophysical Survey Identifies New Target Zones
The recent IP survey has identified several new target zones at the Crosbie North prospect, enhancing the potential for discovery. Key features include:
- A resistive zone at approximately 190m depth, potentially representing quartz veining, stockworks, or quartz reefs
- Multiple chargeability features developing on three mapped anticlinal limbs, with modelled chargeability of up to 25 mV/V
- These chargeability values are 2-5 times background, comparable to published IP results from similar metasediment-hosted gold deposits
What makes these findings particularly significant is their geological context. The highest IP values are concentrated in the limbs of faulted folds and in en-echelon relays across faults – a geometry that closely resembles the Fosterville system.
| IP Survey Highlights | Details |
|---|---|
| Maximum Chargeability | 25 mV/V |
| Comparison to Background | 2-5 times higher |
| Target Depth | ~190m below surface |
| Geological Setting | Faulted fold system with en-echelon relays |
The identification of these new target zones has significantly enhanced the discovery potential of the project, providing multiple opportunities for success in the upcoming drilling program.
Understanding IP Chargeability and Why It Matters
Induced Polarisation (IP) is a geophysical survey method that measures the capacity of subsurface materials to hold an electrical charge. Chargeability anomalies often indicate the presence of disseminated sulphide minerals, which are commonly associated with gold and antimony deposits.
In the context of Crosbie North, the chargeability anomalies are particularly significant because:
- Deep high-grade gold mineralisation at Fosterville is known to be associated with sulphide minerals like pyrite, pyrrhotite, arsenopyrite, and stibnite
- These same minerals could be causing the anomalies at Crosbie North
- The spatial correlation between structural features, IP anomalies, and surface geochemistry suggests a well-developed mineralised system
For investors, these IP results provide technical validation that the multi-target drilling campaign is targeting the right geological structures with potential to host significant gold-antimony mineralisation.
The Fosterville Connection: Why It's Significant
The proximity and geological similarities to Fosterville cannot be overlooked. Fosterville has transformed into one of Australia's highest-grade and lowest-cost gold mines, making any project with similar characteristics worthy of investor attention.
Key similarities between Crosbie North and Fosterville include:
- Both hosted in similar Ordovician metasediments
- Both feature gold-antimony associations
- Both exhibit mineralisation associated with faulted fold systems
- Both show strong geophysical signatures associated with sulphide minerals
Securing Funding to Advance Projects
Bubalus Resources has successfully secured funding to advance projects across its portfolio, ensuring that the company can maintain exploration momentum. This financial position allows the company to:
- Execute the planned drilling program at Crosbie North without delay
- Follow up on any successful results with expanded drilling campaigns
- Continue advancing other projects in their diversified portfolio
- Operate without immediate capital raising pressure
This funding security is particularly important in the current market environment, where capital can be difficult to secure for junior exploration companies.
Upcoming Catalysts and Timeline
With the multi-target drilling campaign set to commence in late September, investors can anticipate a steady flow of news over the coming months:
- Late September 2025: Diamond drill rig mobilisation to site
- October 2025: Drilling progress updates
- November 2025: First assay results expected
This drilling campaign represents the first significant test of the high-grade antimony and gold targets at Crosbie North and could serve as a major catalyst for Bubalus if successful.
Bubalus's Diversified Project Portfolio
While the Victorian Gold Projects with their high-grade antimony potential are currently in focus, Bubalus maintains a diversified portfolio of critical minerals projects across Australia:
| Project | Target Commodity | Location | Key Features |
|---|---|---|---|
| Victorian Gold | Gold/Antimony | Victoria | 8 granted licenses in historic goldfields |
| Yinnietharra | Lithium | Western Australia | 2km from Delta Lithium's Malinda Prospect |
| Amadeus | Manganese | Northern Territory | 150km strike with high-grade Mn outcrops |
| Coomarie | Heavy Rare Earths | Northern Territory | 1,315 km² geological analogue to Browns Range |
| Nolans East | Light Rare Earths | Northern Territory | 15km from Arafura's 56Mt Nolans Bore deposit |
| Pargee | Heavy Rare Earths | Western Australia | 30km from PVW's Watts Rise discovery |
This diversification provides investors exposure to gold, high-grade antimony, lithium, manganese, and rare earth elements – all critical minerals with strong demand fundamentals.
Why Investors Should Follow Bubalus Resources
Bubalus presents a compelling investment case for several reasons:
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Near-term Drilling Catalysts: With drilling about to commence and results expected in November, significant news flow is imminent.
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Strategic Project Location: The Victorian Gold Projects, particularly Crosbie North with its high-grade antimony potential, are situated in a world-class gold district near major producing mines.
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Technical Validation: Recent IP survey results have identified specific new target zones with geological characteristics remarkably similar to Fosterville.
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Surface Indicators: High-grade surface samples of up to 12.1 g/t gold and 2.02% antimony provide confidence in the mineralisation potential.
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Funding Security: The company has secured funding to advance projects without immediate capital constraints.
For investors seeking exposure to gold and antimony exploration with near-term catalysts, Bubalus Resources represents an opportunity to participate in the potential discovery of a Fosterville-like deposit, backed by compelling technical evidence and led by an experienced team.
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