Grand Gulf Energy Limited (ASX: GGE) has announced it has secured the Dry Wash Antimony Project in Utah, USA, via a Mineral Exploration with Option to Lease Agreement with the Utah School and Institutional Trust Lands Administration (SITLA). Grand Gulf Energy is an ASX-listed helium and oil, and gas exploration and development company. The Dry Wash Antimony Project, covering 8,122 acres, is adjacent to American Tungsten and Antimony Limited’s Antimony Canyon Project.
The Dry Wash Antimony Project is strategically located and on-trend with AT4’s Antimony Canyon Project, which has shown significant mineralisation, including visible massive to disseminated stibnite. AT4 has reported high-grade antimony in channel samples and interprets mineralisation extending north-northwest towards GGE’s Dry Wash Antimony Project. Fieldwork by GGE has identified significant stibnite mineralisation hosted in multiple horizons of the Palaeocene to Eocene Flagstaff Formation, developed along north to northwest-trending mineralising structures.
Grand Gulf Energy Director Fergus Kiley commented that the Dry Wash Antimony Project represents exposure for Grand Gulf to the burgeoning U.S. critical minerals space, leveraging the Company’s existing technical presence in Utah. The company has secured a large, strategic landholding in Utah’s historic antimony district that sits directly on-trend and adjacent to the active Antimony Canyon system.
Grand Gulf will undertake field activities with a view towards first-pass drilling. The company has received firm commitments to raise $500,000 through a placement of 250 million fully paid ordinary shares to fund further evaluation of the existing project area and general working capital.
