ASX gold stock Felix Gold Ltd (ASX: FXG) is sliding today.
Felix Gold shares closed yesterday trading for 37 cents. In early morning trade on Friday, shares are swapping hands for 36 cents apiece, down 2.7%.
For some context, the All Ordinaries Index (ASX: XAO) is up 0.5% at this same time.
Even with today's intraday loss factored in, the Felix Gold share price is up a whopping 166.6% since this time last year, smashing the 3.6% 12-month gains delivered by the All Ords.
Here's what the miner just reported.
Image source: Getty Images
ASX gold stock slips despite promising drill results
The Felix Gold share price is slipping after the miner announced the final gold and antimony assay results from its 2025 exploratory drilling campaign at its NW Array prospect.
The prospect is located within the ASX gold stock's Treasure Creek Project, located in the US state of Alaska.
The latest results from the diamond and reverse circulation (RC) drilling confirmed multiple zones of near-surface gold mineralisation. According to the release, that includes higher-grade gold mineralisation within zones of several orientations, as well as broad, lower-grade mineralisation.
The drilling also intercepted new antimony veining zones.
While I'll assume you're familiar with gold, that may not be the case for antimony. The silvery metalloid is often used in batteries and to strengthen other metals, including lead. And, crucially for miners like Felix Gold, the United States currently has no secure domestic antimony supply.
Among the top gold results from one drill hole, the ASX gold stock reported 9.1 metres at 1.92 grams of gold per ton from 3.38 metres and 29.26 metres at 2.16 g/t Au from 13.41 metres.
Top antimony results included 2.53 metres at 4.34% antimony, including 0.50 metres at 20.85% Sb.
What did Felix Gold management say?
Commenting on the assay results that have yet to lift the ASX gold stock today, Felix Gold executive director Joseph Webb said, "These final 2025 gold assays close out a drilling year that has delivered consistently on both sides of the NW Array story."
As for the critical antimony element, he noted:
Felix Gold is building America's 'Antimony Solution', and the gold sitting alongside that antimony in the same structures and drill holes is a meaningful component of the asset's strategic value.
Webb added:
The 2025 program has now defined gold mineralisation across the central and southern parts of the prospect, and these results add a substantial near-surface intersection in 25TCDC064 – 29.26 metres at 2.16 g/t gold from 13.4 metres, with a 21-metre central zone grading 2.83 g/t.
By any district benchmark that is a meaningful width and grade combination, and it sits inside a system where antimony mineralisation has already delivered some of the highest grades reported globally.
