Felix Gold Limited (ASX:FXG) Direct Shipping Ore Meets Military Grade Specification

(MENAFN- ABN Newswire)
Direct Shipping Ore Meets Military Grade Specification Sydney, Mar 26, 2026 AEST (ABN Newswire) - Felix Gold Limited (ASX:FXG ) (FXGDF:OTCMKTS ) (W0X:FRA ) provided an update on metallurgical testwork and U.S. processing development, following recent approval to extract bulk ore samples from the Treasure Creek Antimony Project. The update summarises results from multiple independent programs evaluating ore characteristics, processing pathways and potential production routes, alongside progress on U.S. processing facility site selection.
Key Results:
- On-Site Ore Sorting - Field Testwork: Excavation, hand sorting and bagging of massive stibnite vein material successfully demonstrated at site, with a 370kg high-grade sample delivered and received by Core Resources for characterisation and testwork, returning outstanding results (below) that confirm the viability of the on-site sorting process.
- Ore Characterisation - Core Resources: The 370kg hand-sorted massive stibnite ore exceeds U.S. Military Concentrate Specification (MIL-A-22131), confirming exceptional direct-shipping ore quality prior to processing.
- Direct Smelting Trials - Core Resources: Untreated ore successfully converted directly to antimony metal, confirming a direct pyrometallurgical pathway without prior processing.
- Leach Testwork and Electrolyte Production - Blue Coast Research (BCR): Alkaline sulfide leach testwork generated purified electrolyte (PLS) for downstream electrowinning, with up to 98% Sb extraction achieved at 75degC and more than 90% recovered within the first two hours, confirming strong recoveries and rapid leach kinetics.
- Electrowinning Trials - University of British Columbia: High-purity antimony metal produced from Blue Coast-generated electrolyte feed (final assays pending), confirming a hydrometallurgical ore-to-metal pathway.
- Metallurgical Recovery - Core Resources: ~99% antimony extraction achieved at 150-300 micron feed size, supporting simplified hydrometallurgical processing conditions.
- U.S. Processing Study - Worley: Site selection assessment completed, supporting evaluation of toll treatment and a dedicated Felix Gold processing facility.
Felix Gold's Executive Director, Joseph Webb, commented:
"Start with the ore. It can be excavated, hand-sorted and delivered as high-grade feed, now shown to exceed U.S. military-grade concentrate specifications as direct ore. This is not concentrate - this is ore: Direct Shipping Ore that meets military-grade specifications. There are no known sources to the Company's knowledge of military-grade antimony concentrate in the Western world - and this exceeds that threshold straight out of the ground.
It can then be converted to metal - either by direct smelting of untreated ore or by leach and electrowinning - both without pre-treatment and at coarse grind. That is the simplified flowsheet to produce antimony metal.
All of this sits within a U.S. policy environment actively seeking a domestic supply of critical minerals, supported by established infrastructure and a brownfields setting at Treasure Creek. In a market where the United States has no integrated domestic antimony supply chain, that combination is highly significant."
Cautionary Statement: No Mineral Resources or Ore Reserves have been declared and no JORC-compliant economic studies have been completed. Any progression toward production remains subject to further evaluation, permitting and Board approval. The Company may elect to progress prior to completion of such studies. Peer project statements are based on publicly available information. The ore sample was selected from a high-grade zone and is not representative of average deposit grades.
Core Resources
Ore Feed Characterisation
The head characterisation results confirm that the Treasure Creek massive stibnite ore meets and exceeds U.S. Military Concentrate Specification (MIL-A-22131) as direct ore, prior to any processing. With antimony grades of 71.9% Sb and mineralogy comprising 90.8% stibnite, combined with negligible deleterious elements (arsenic, lead and copper below detection thresholds), the material demonstrates exceptional purity consistent with military-grade concentrate standards. To the Company's knowledge, there are no known sources of military-grade antimony concentrate in the Western world - let alone material that meets these specifications directly from ore - underscoring the extraordinary nature of the Treasure Creek mineralisation.
Core Resources (Brisbane) completed head characterisation of the ore dispatched from NW Array prospect for the pilot testwork program. Analysis was conducted by ALS using XRF (ME-XRF15c method) for elemental grade, XRD for mineralogy, fire assay for gold, and 4-acid digest ICP for trace elements.
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About Felix Gold Limited

Felix Gold Limited (ASX:FXG) (OTCMKTS:FXGDF) (FRA:W0X) is advancing two complementary opportunities in Alaska's Fairbanks Mining District: near-term antimony production and district-scale gold.

Antimony: Felix Gold is building America's Antimony Solution – a fully integrated domestic supply chain from proven U.S. ore. The Treasure Creek Antimony Project hosts one of the only proven sources of high-grade antimony ore in the United States. With ~90% antimony-bearing minerals and virtually no deleterious elements, Felix Gold has demonstrated military-grade antimony concentrate – results that, to the Company's knowledge, no other Western project has publicly achieved.

Gold: Felix Gold is the largest landholder in the Fairbanks Mining District, with inferred 831,000 oz at 0.84g/t of JORC gold resources located 30km from Kinross's Fort Knox mill - a Tier 1 operation actively seeking third-party ore.

The same infrastructure, permitting pathway, and team serve both commodities. Mineralisation outcrops at surface adjacent to year-round paved road with grid power, just 30km from Fairbanks.

No federal land significantly reduces permitting timeframes compared to other U.S. critical minerals projects.

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