Felix Gold Ltd (ASX: FXG) has become one of the ASX's standout performers over the past twelve months.
Shares in this mineral explorer have ballooned by nearly 500% in just one year, climbing to $0.41 per share at the time of writing.
Not surprisingly, this surge has outperformed the broader market handsomely, with the All Ordinaries Index (ASX: XAO) rising by 1.64% during the same period.
This rally has been fuelled by progress at the group's Treasure Creek antimony and gold project in Alaska.
In essence, this ASX mining stock has been reporting a swathe of rich antimony intercepts from exploration drilling.
These outcomes could pave the way for Felix to become the first antimony producer in the US in more than three decades.
Image source: Getty Images
Strategic mineral
Antimony is traditionally used in flame-retardant materials and several other products, like lead storage batteries, munitions, and ceramics.
However, it is also utilised in various modern-day technologies such as solar panels.
Supply of antimony is heavily concentrated, with about 95% of global output coming from China, Russia, and Tajikistan.
And late last year, China implemented a total ban on antimony exports to the US.
This geopolitical setting could create a strategic opportunity for Felix.
More specifically, the antimony from Treasure Creek could potentially become a supply source for the US market.
However, the project also holds a sizeable 831,000-ounce gold resource.
And an extensive drilling campaign just delivered further significant gold hits.
What happened?
Felix recently completed more than 120 drill holes at Treasure Creek, with results from 10 holes announced this morning revealing shallow and high-grade gold intercepts.
One hole returned a 13.75 metre interval grading 7.69 grams per tonne gold, including a richer 4.89m zone grading 20.42 g/t gold.
Another hole served up a broad 47.25m intercept at 1.08 g/t gold.
Management noted that the gold mineralisation is strongly linked to structures that also host high-grade antimony, with the gold shaping a broader halo around the antimony.
Felix Gold Executive Director, Joe Webb, commented:
The geology is particularly encouraging. We're seeing high-grade gold within the same structures that host our antimony mineralisation, with gold forming broader halos around these zones. The 13.75m @ 7.69 g/t intersection in hole 001, including 4.89m @ 20.42 g/t, demonstrates the grade potential within these weathered breccia structures.
What next for this ASX mining stock?
Treasure Creek sits within the Fairbanks mining district of Alaska.
This prolific geological region is renowned for producing over 16 million ounces of gold historically.
And Felix is the largest landholder in this infrastructure-rich district.
The ASX mining stock now plans to incorporate the gold and antimony results from 2025 into an expanded resource database.
Samples from the recently concluded drilling program have been submitted to the lab for multi-element analysis, including antimony.
Gold results from 113 drill holes also remain pending.
