Maxus Mining Takes Unconventional Route to Unlock Canada's Highest-Grade Antimony Deposit

A junior miner is betting that an old mine with extraordinary grades can deliver a new source of critical minerals for North America. Maxus Mining has unveiled an ambitious four-phase exploration program at its Alturas West project in British Columbia, centered on the historic Alps-Alturas mine — a site that once produced antimony at an average grade of 57.2 percent.

The company plans to drill up to 2,000 meters of diamond core, marking the first time this historic underground operation has ever been tested by modern drilling. Recent surface sampling has returned grades as high as 69.98 percent antimony, placing Alturas West among the highest-grade antimony discoveries in Canada.

A Methodical Approach Before the Drill Bit Turns

Rather than rushing straight into drilling, Maxus is taking a data-driven approach. The company has contracted Geotech Ltd. to conduct a VTEM airborne electromagnetic survey, which will be combined with historical datasets and 3D structural modeling. This geophysical work is designed to prioritize drill targets before a single meter of core is extracted.

The strategy reflects a desire to maximize the odds of success. Surface sampling and preliminary metallurgical studies round out the early-stage work, with ore-sorting tests already underway. That inclusion of beneficiation studies at such an early stage — before any resource estimate exists — is unusual for an exploration project, but signals that management is thinking about economics from day one.

Should investors sell immediately? Or is it worth buying Maxus Mining?

CEO Scott Walters has framed the effort in strategic terms: the company aims to help establish a secure North American supply chain for antimony, a mineral classified as critical in both the US and Canada. Demand from defense and technology sectors is rising, while global supply remains heavily concentrated.

Market Sentiment Remains Sour

Despite the operational progress, the stock has failed to catch a bid. Shares slid 11 percent on Friday to EUR 0.52, accelerating a downtrend that has pushed the stock well below its 50-day moving average of EUR 0.67. At current levels, the stock trades roughly 60 percent below its January high of EUR 1.35.

Technical indicators suggest the selling may be overdone. The relative strength index stands at 25, deep in oversold territory. The stock is hovering just above the multi-month low struck in March.

Maxus Mining at a turning point? This analysis reveals what investors need to know now.

Maxus only secured full control of Alturas West in March, and the shares began trading on the US over-the-counter market in February to broaden its investor base. The company's broader portfolio spans roughly 15,300 hectares across three antimony projects, plus copper and tungsten assets.

The next major catalyst will come from the drilling itself. First results from the VTEM survey and metallurgical testing are expected later this year. Whether those results can reverse the stock's slide will depend on one thing: whether the drill bit confirms that the historic grades extend at depth.

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