Alaska Gold and Antimony Deposit Valuation Tops $439 Million

2026-10-26 companies

Fairbanks, Monday, 26 October 2026.
United States Antimony revealed resources exceeding $439 million at its Nolan Creek site, swiftly launching extraction to transport 907 metric tons of critical defense ore for processing before year-end.

Critical Minerals Rush Spurs Alaska Gold-Antimony Project

United States Antimony Corporation (NYSE American: UAMY) has initiated extraction operations at its Nolan Creek deposit in northern Alaska just weeks after disclosing a resource valuation exceeding $439 million. The measured and indicated resource is valued at $314 million, with an additional $125 million in inferred resources, as outlined in a newly filed SEC S-K 1300 compliant technical report authored by Qualified Person Thomas K. Bundtzen of Pacific Rim Geological Consulting, Inc. [1][5][6]. Mining commenced in October 2026, with contractors operating two shifts daily by October 31, positioning the project to deliver its first shipment of antimony and gold ore to the company’s Radersburg, Montana processing facility before year-end [1][2][10].

Strategic Resource Valuation and Economic Modeling

The Nolan Creek deposit’s resource valuation is based on economic modeling using a gold price of $4,000 per ounce and an antimony price of $8.30 per pound. The measured and indicated (M&I) material has an in-situ value of $233.9 million from antimony and $79.9 million from gold before costs and recovery [1]. The total resource value of 0 exceeds $439 million, reflecting the growing strategic importance of antimony—a critical mineral for defense and industrial applications [1][5][6]. The project’s rapid development timeline underscores United States Antimony’s ‘fast track’ approach, which has accelerated from property acquisition in January 2026 to active mining within months [1][2].

Operational Milestones and Logistical Challenges

United States Antimony’s Nolan Creek project is located approximately 280 kilometers (175 miles) north of Fairbanks, Alaska, in a region known for extreme winter conditions. The company has mobilized a 1,000-ton exploration bulk sample for processing at its in-house flotation mill in Radersburg, Montana, with plans to demonstrate the site’s capability to meet the mill’s nameplate capacity using long-hole open stope mining methods in the first half of 2027 [1][2][10]. CEO Gary C. Evans highlighted the logistical hurdles overcome in under 12 months, including environmental remediation, lease acquisitions, road repairs, and the establishment of a man camp at the remote site [1]. Joseph Bardswich, Executive Vice President and Chief Mining Engineer, emphasized the team’s perseverance in navigating these challenges to begin operations ahead of schedule [1].

Market Response and Future Outlook for UAMY

As of October 23, 2026, United States Antimony’s stock (UAMY) traded at $3.08, with a consensus price target of $10.13, representing a potential upside of 228.896 or approximately 229.3% [2][GPT]. The company’s market capitalization stands at $460.23 million, with institutional ownership at 9.49% and insider purchases totaling $298,592 over the past three months [2]. While the Nolan Creek project represents a significant near-term opportunity, analysts caution that the company’s P/E ratio of -23.65 reflects ongoing financial challenges, including negative net margins of -44.60% [2]. United States Antimony’s broader strategy includes expanding its critical mineral portfolio, with recent acquisitions in Alaska, Montana, and Ontario, Canada, aimed at reducing third-party ore purchase costs [2][GPT].

Regulatory Compliance and Technical Report Summary

The Nolan Creek technical report was filed as an SEC Form 8-K on October 26, 2026, and complies with Regulation S-K subpart 1300. The report, authored by Thomas K. Bundtzen, outlines 6,250 ounces of indicated placer gold resources, 53,616 tons of measured and indicated lode resources grading 26.27% antimony and 0.372 ounces of gold per ton, and 32,459 short tons of inferred lode resources grading 14.29% antimony and 0.362 ounces of gold per ton [1][5][6]. The project is owned by Great Land Minerals, a wholly-owned subsidiary of United States Antimony, and was acquired at a public auction in January 2026 [5][6]. The technical report summary confirms the project’s potential while noting the absence of mineral reserves, mining methods, cost estimates, or economic analysis in the current disclosure [6].

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