Canagold Reports 30.46% Antimony and Produces >99% Pure Antimony Metal at New Polaris
CRCUF has more than doubled off its 52-week low of $0.241 on light trading volume (0.1× avg).
Summary
Canagold announced record antimony drill results and successfully produced >99% pure antimony metal from New Polaris concentrate, validating a potential on-site refining pathway for a critical mineral.
Key Events · Product Development and Regulatory · CRCUF
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Record Antimony Drill Intercepts
Hole NP26-01 returned 13.2m averaging 3.83% Sb and 19.38 g/t Au, including 1.21m grading 30.46% Sb and 49.10 g/t Au — the highest Sb grades over the greatest widths encountered at New Polaris to date.
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Physical Antimony Metal Produced
Refining test work at Core Metallurgy produced antimony metal grading >99% Sb from New Polaris concentrate using alkaline sulphide leach and electrowinning, achieving 99.7% leach extraction.
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Concentrate-to-Metal Pathway Validated
The milestone demonstrates a technical route to refined antimony metal, potentially bypassing third-party smelters and capturing more of the value chain for a critical mineral with Western supply-chain concerns.
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Financial Context
The positive technical news follows an August 2026 going-concern warning and a $59.6 million deficit, and a $7.1 million private placement closed in September 2026.
Analysis · CRCUF · Energy & Transportation
Canagold reported its highest-grade antimony intercepts to date at New Polaris — 13.2 meters averaging 3.83% Sb and 19.38 g/t Au, including a 1.21-meter interval grading 30.46% Sb and 49.10 g/t Au — and separately demonstrated a complete concentrate-to-refined-metal pathway by producing physical antimony metal grading over 99% Sb with 99.7% leach extraction. Antimony is a critical mineral with Western supply-chain concerns, and the ability to refine on-site rather than sell concentrate to overseas smelters could materially improve project economics. This comes against a backdrop of a going-concern warning and a $59.6 million deficit disclosed in August, so the technical progress is a meaningful positive for a company that recently raised $7.1 million to stay funded.
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At the time of this filing, CRCUF was trading at $0.51 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $116.5M. The 52-week trading range was $0.24 to $0.56. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.