Canagold Successfully Produces Physical Antimony Metal Grading over 99% Sb from New Polaris Concentrate
Laboratory refining offers a potential alternative to concentrate sales, while commercial arrangements and facility requirements remain under study.
Sentiment and the balance of points
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Rhea-AI Summary
Canagold Resources (CRCUF) successfully produced physical antimony metal grading greater than 99% Sb from its New Polaris gold-antimony project concentrate. Refining tests at Core Metallurgy's Australian laboratory used alkaline sulphide leaching followed by electrowinning, which recovers metal from solution using electricity. Antimony extraction reached 99.7% in the leach stage; this is not a reported overall metal recovery rate. Earlier flotation tests generated concentrate containing 59.1% antimony and 98.3 grams of gold per tonne.
Canagold sees refined metal as a potential alternative to concentrate sales to third-party smelters, with opportunities to retain more value and supply end users directly. Further testing and technical evaluations are planned to support engineering and feasibility-level studies. Transportation, refining options, potential purchase agreements and facility requirements remain under study before the commercial plan is finalized.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Minor pointRefining tests produced greater than 99% antimony metal from New Polaris concentrate.
- Minor pointAntimony extraction reached 99.7% in the leach stage ahead of electrowinning.
- Minor pointEarlier flotation tests produced concentrate grading 59.1% antimony and 98.3 g/t gold.
- Minor point. Forward-looking: it has not happened yet and may not happen.Canagold sees potential value retention and direct end-user sales through refined metal rather than concentrate.
- Minor point. Forward-looking: it has not happened yet and may not happen.Canagold plans further testing and technical evaluations to optimize processing and support engineering and feasibility-level studies.
Negative
- Moderate point. Forward-looking: it has not happened yet and may not happen.Antimony's commercial execution plan requires additional testing, logistics, commercial terms and operational details to be finalized.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - October 6, 2026) - Canagold Resources Ltd. (TSX: CCM) (OTCQB: CRCUF) (FSE: CANA) ("Canagold" or the "Company") is pleased to announce that it has successfully produced physical antimony metal from concentrate, generated at its New Polaris gold-antimony project in northwest British Columbia, Canada. This major technical milestone demonstrates that New Polaris has the potential to deliver not only gold, but also a finished, refined critical metal, marking a key step in advancing the Company's antimony production and value-enhancement strategy.
Building on previous locked-cycle flotation test work that generated a high-grade gold-antimony concentrate assaying
Antimony Metal Production Highlights
- Physical Antimony Metal Produced: Refining test work successfully converted high-grade New Polaris antimony-gold concentrate into physical antimony metal grading greater than
99% Sb, using an alkaline sulphide leach and electrowinning process. - High Leach Extraction:
99.7% of the antimony was extracted from the concentrate in the leach stage, demonstrating efficient recovery of antimony into solution ahead of electrowinning. - Concentrate-to-Metal Pathway Demonstrated: Confirms the technical viability of converting New Polaris concentrate into a refined, marketable antimony metal product, creating an alternative to relying solely on the sale of concentrate to third-party smelters.
- Ongoing Optimization: Additional metallurgical test work and technical evaluations are planned to optimize process parameters and generate the data required for engineering and feasibility-level studies.
"Producing physical antimony metal from our own New Polaris gold-antimony concentrate is an important milestone for Canagold," stated Canagold's Chief Executive Officer, Catalin Kilofliski. "Antimony concentrate is typically sold to a limited number of smelters, most of them overseas, before it ever becomes usable metal. Demonstrating that we can take New Polaris concentrate all the way to refined metal, gives us the potential to capture more of the value chain and to supply a critical metal directly to North American and allied end users. Our Feasibility Study already demonstrates robust gold economics, and antimony metal represents meaningful additional upside potential. We are now working through the logistics, commercial terms, additional testing and operational details required to firm up this execution plan."
Image 1. Physical Antimony Metal Produced from New Polaris Concentrate
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11878/317617_746534f234f34944_001full.jpg
Why Physical Antimony Metal Matters
Antimony is designated a critical mineral by both Canada and the United States and is essential for defence and military applications, energy storage, flame retardants, semiconductors and solar glass. Global refining capacity is highly concentrated, with China historically accounting for the majority of the world's refined antimony supply, and recent export restrictions have exposed the vulnerability of Western supply chains. End users are therefore increasingly seeking secure sources of refined metal from stable jurisdictions. Antimony concentrates are generally sold to a limited pool of smelters at a discount to contained metal value and can be subject to treatment charges and penalties. By demonstrating that New Polaris concentrate can be refined into physical antimony metal, Canagold has opened the potential to capture a greater share of the antimony value chain, broaden its range of potential customers, and contribute to a secure North American source of this critical metal.
Next Steps
While further metallurgical test work will continue to optimize processing parameters, this program demonstrates that physical antimony metal can be produced from New Polaris concentrate. The Company will continue its metallurgical test work and technical evaluations to integrate antimony metal production into the broader project model, and is actively studying the transportation logistics, processing and refining options, potential off-take arrangements, and facility requirements needed to firm up its commercial plan.
About Core
Core Metallurgy Pty Ltd is an independent Brisbane (Australia)-based metallurgical project development firm serving the global mining industry. With a team of approximately 40 metallurgists, chemical and process engineers, and chemists, Core specializes in metallurgical testing, process engineering, flowsheet development and site support, providing practical and commercially focused solutions for complex mining projects.
Qualified Person
In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Garry Biles, P.Eng., President & COO, is the Qualified Person for the Company and has prepared, validated, and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting activities on its projects.
About Canagold Resources Ltd.
Canagold Resources Ltd. is an advanced development company focused on advancing the New Polaris Gold-Antimony Project in northwestern British Columbia through permitting and toward production. The Company completed a Feasibility Study for New Polaris in 2025 and continues to advance the project through environmental assessment, permitting, technical studies and stakeholder engagement.
Canagold's objective is to responsibly develop New Polaris into a significant gold and antimony operation while creating long-term value for shareholders and meaningful benefits for Indigenous Nations and local communities.
"Catalin Kilofliski"
Catalin Kilofliski
Chief Executive Officer
For further information, please contact:
Catalin Kilofliski, Chief Executive Officer
CANAGOLD RESOURCES LTD
Catalin@canagoldresources.com
Tel: (604) 685-9700
Website: www.canagoldresources.com
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317617
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What antimony purity and extraction did Canagold achieve in New Polaris refining tests?
Canagold produced metal grading greater than 99% antimony and achieved 99.7% antimony extraction in the leach stage. The extraction figure measures antimony entering solution before electrowinning, rather than overall recovery into finished metal.
How did Canagold produce antimony metal from New Polaris concentrate?
Core Metallurgy's Australian laboratory used alkaline sulphide leaching followed by electrowinning to convert New Polaris concentrate into physical antimony metal. Electrowinning uses electricity to recover metal from solution.