Grand Gulf Energy Ltd. has secured the Dry Wash antimony project in Utah’s proven antimony district, making a strategic move into the US critical minerals sector.
Grand Gulf acquired the 8,122-acre Dry Wash antimony project through a mineral exploration and lease agreement with the Utah School and Institutional Trust Lands Administration (SITLA), the Utah state custodian of mineral rights.
The company said the project is a low-cost strategic opportunity to position itself in the rapidly emerging US critical minerals sector, with initial field work already identifying significant stibnite mineralisation.
Dry Wash is also adjacent to active explorers and has the potential for shallow, laterally extensive targets within receptive host units.
The project is also located adjacent to American Tungsten and Antimony’s (AT4) Antimony Canyon project.
AT4 has already reported high-grade antimony in channel samples and coherent northerly trending conductors that appear to extend toward Grand Gulf’s Dry Wash project area, suggesting potential mineralisation continuity across tenure boundaries.
“Grand Gulf 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,” said Grand Gulf Energy Director Fergus Kiley.
“With drilling currently underway, our neighbours are demonstrating high-grade antimony and strong geophysical support for north–northwest extensions toward Grand Gulf’s Dry Wash Antimony Project.
“Informed by recent field work undertaken by Grand Gulf, the results of which are pending, the company will now undertake field activities with a view towards first-pass drilling.”
Grand Gulf will progress the project through a staged exploration program to rapidly generate drill-ready targets. Assay results from the initial field reconnaissance are expected shortly, which will inform the planned geophysical surveys and detailed surface mapping programmes.
Meanwhile, the company strengthened its capital position through a AU$500,000 placement of 250 million shares to investors at an issue price of 0.2 cents per share.
Grand Gulf will use the funds raised for further evaluation of Dry Wash and general working capital.
