Military Metals Delivers High-Grade Antimony Strike: Validating Europe’s Strategic "Secret Weapon"

For those who have been following my portfolio coverage, you know I’ve had my eye on Military Metals Corp. (CSE: MILI | OTCQB: MILIF) for some time. In a market obsessed with lithium and copper, MILI caught my attention early for its laser focus on Antimony—a "forgotten" critical mineral that has suddenly become the centerpiece of global defense and energy security.

Last week, the company dropped a massive update: the first analytical results from their definition drilling campaign at the Trojarová Project in Slovakia. For investors who have been waiting for "proof of concept" on their Soviet-era data, this is the smoking gun.

The Results: Confirming the 61,000 Tonne Thesis

The primary goal of this drill program was to see if modern assays would hold up against the historical data from the 1980s and 90s. The Soviet-era estimate suggested a resource of roughly 61,000 tonnes of Antimony.

The results from hole 25-TVA-001 didn't just meet expectations; they arguably exceeded them in terms of width and metal zonation:

• Antimony (Sb): 23.2 meters of 2.22% Sb (including a high-grade core of 7.9m at 4.9% Sb).

• Gold (Au): 23.2 meters of 1.27 g/t Au (including 6.2m at 3.17 g/t Au).

Why this matters: The historical model predicted a mineralized zone averaging about 3.32 meters wide. To pull a 23-meter intercept is a significant development. It suggests that the deposit may be much thicker than previously thought, which is exactly the kind of "pleasant surprise" that leads to a larger-than-expected modern resource estimate.

Comparison: Trojarová vs. The Stibnite Gold Project

To put these grades in perspective, we can look at Perpetua Resources ($PPTA). Their Stibnite Gold Project in Idaho is widely considered the Western world’s next big source of Antimony. However, the two projects represent very different investment profiles:

The Verdict: While Perpetua is a massive, multi-billion dollar project, Military Metals is proving to be a high-grade specialist. Trojarová’s grade is nearly 10x higher in some intercepts than the average grade at Stibnite. For an investor looking for pure-play Antimony exposure, the grade-to-market-cap ratio here is becoming very hard to ignore.

The Macro Tailwinds: Why Slovakia, Why Now?

The timing of these results couldn't be better. Antimony prices have remained elevated (trading near $40,000/tonne in Europe as of early 2026) due to China’s export restrictions.

1. EU Strategic Independence: Under the European Critical Raw Materials Act, the EU is mandated to source 10% of its minerals domestically. Military Metals is sitting on what is likely the best-positioned Antimony asset on the continent.

2. Royalty-Free Growth: Just a day after the drill results, MILI announced they bought back a 1% royalty on their Slovakian portfolio. They are clearing the decks for a potential Preliminary Economic Assessment (PEA) later this year.

3. Modern Resource Estimate: The company expects a modern, NI 43-101 compliant resource estimate from SLR Consulting later this quarter. This will be the "official" translation of the 61,000-tonne historical resource into the modern era.

Final Thoughts

Military Metals is a company I've followed because they understood the "Defense Metal" thesis before it became a headline. With 1.7km of underground workings already in place and grades that dwarf many global peers, Trojarová is quickly moving from a "historical curiosity" to a strategic European asset.

As we wait for the remaining six holes from this campaign, the focus now shifts to the upcoming resource estimate. If the rest of the holes look like 25-TVA-001, we might be looking at a very different valuation for MILI by mid-year.

^{DISCLAIMER: The author did not receive any compensation for publishing this article. The author holds a position in MILITARY METALS CORP and may choose to buy or sell shares of the company at any time without notice. The author does not hold positions in any of the other companies mentioned. While reasonable efforts have been made to ensure the accuracy and reliability of the information provided, readers are encouraged to conduct their own research and seek independent financial advice before making any investment decisions related to the companies discussed.}