Felix Gold (ASX:FXG) has triggered its option to acquire 100% ownership of the Treasure Creek Project, a move that cements its status as the largest landholder in Alaska’s prestigious Fairbanks Mining District.
The acquisition includes two upland mining leases and 25 mining claims, spanning over 388,000 acres in one of the world's most productive gold and critical mineral regions.
The strategic consolidation follows recent metallurgical breakthroughs confirming that Treasure Creek ore exceeds US Military Concentrate Specifications as direct shipping ore, with proven ore-to-metal processing pathways already established.
The financial terms involve a remaining purchase price of US$1.4 million payable within 30 days.
Future milestone payments are tied to the establishment of gold mineral resources, though these obligations will expire if specific thresholds are not met by October 2031.
Beyond its 467,000-ounce JORC inferred gold resource, the site is home to an emerging antimony deposit of significant strategic value.
Executive Director Joseph Webb highlighted the timing of the deal, noting that the United States currently lacks an integrated domestic antimony supply chain.
With China recently banning exports of the critical mineral, Treasure Creek represents the only proven domestic source of high-grade antimony ore capable of meeting military standards straight from the ground.