Highlights

  • Surface mapping at Catalyst Ridge identified a quartz-stibnite vein system over a one-kilometre strike length.
  • Golden Ant project hosts 202,000 ounces of gold and 9,000 tonnes of antimony in an established JORC resource.
  • Ground magnetic and induced polarisation surveys are planned to vector maiden RC drilling at Catalyst Ridge.
  • Antimony is irreplaceable in munitions, flame retardants, solar glass, and next-generation liquid-metal batteries.

Antimony supply is constrained globally, and Great Northern Minerals (ASX:GNM) has just mapped more than a kilometre of high-grade quartz-stibnite veining at Catalyst Ridge in North Queensland — a district-scale find that sits alongside an already established 202,000-ounce gold and 9,000-tonne antimony resource at the adjacent Golden Ant project.

Catalyst Ridge: A 1km Stibnite Discovery

Systematic surface geological mapping and rock-chip sampling at the Catalyst Ridge project identified a prominent quartz-stibnite vein system outcropping continuously over a strike length exceeding one kilometre. Laboratory assays confirmed exceptionally high antimony concentrations associated with epithermal gold mineralisation, verifying the presence of an authentic high-grade critical mineral feeder structure.

The identification of widespread antimony mineralisation at Catalyst Ridge marks a strategic advancement for GNM. Antimony has emerged as one of the world's most vulnerable critical defence and technology metals following export restrictions enacted by major global producers, creating a structural supply deficit that is drawing significant commercial interest to credible Western deposits.

Golden Ant: Established Resource Foundation

The Catalyst Ridge initiative complements GNM's Golden Ant Project, which encompasses historical producing mines at Camel Creek, Amanda, and Big Rush, hosting a JORC Mineral Resource of 202,000 ounces of gold and 9,000 tonnes of antimony. Deeper primary sulphide ores at Camel Creek host significant stibnite-gold mineralisation that remains largely unexploited, providing near-term development upside alongside the discovery-phase work at Catalyst Ridge.

Antimony is irreplaceable in munitions manufacturing, flame retardants, solar photovoltaic glass clarifiers, and next-generation liquid-metal grid batteries — providing GNM with multiple end-market demand drivers beyond traditional commodity cycles.

Geophysics and Drilling Programme

Management's immediate focus centres on completing detailed ground magnetic and induced polarisation geophysical surveys over the Catalyst Ridge quartz-stibnite trend. These surveys will map subsurface chargeability anomalies defining high-density sulphide accumulations ahead of a maiden reverse circulation drilling campaign.

GNM shares traded at $0.029 on 2 October 2026, gaining 3.57% on turnover of 85,405 shares, with a market capitalisation of $14.32 million. The stock contracted 67.05% over 12 months, reflecting historical restructuring and capital rationing among micro-cap resource explorers.

Financial and Operational Risks

GNM's limited treasury reserves necessitate near-term capital raisings, commercial debt, or farm-in transactions to fund intensive drilling. Equity raisings at prevailing share prices carry inherent dilution risks for existing shareholders.

Converting surface rock-chip anomalies into continuous economic mineral resources requires successful drilling verification. Antimony markets are thinly traded and subject to pricing opacity, while remote operations in Queensland face seasonal wet-season access disruptions and regulatory environmental approvals.