Armory Mining Corp. (ARMY:CSE; RMRYF:OTC; J2S:FRA) has announced that it has begun planning for a phase one exploration program at its Ammo antimony-gold project in Nova Scotia. The 3,092-hectare property surrounds the historic West Gore mine, which produced both antimony and gold in the years leading up to World War I. The historical West Gore site, now held by Military Metals Corp., lies adjacent to the Ammo property..
According to the company, phase one of exploration will focus on prospecting and reconnaissance to identify favorable geology, followed by detailed surface sampling and geophysics. These efforts are intended to assist in defining potential drill targets across the property. Armory stated that it expects to allocate up to CA$500,000 for the initial phase of work. Planning is currently underway, and additional details will be provided in the coming weeks.
"We're going to advance the Ammo project methodically with the goal to identify, develop and drill promising targets," said Alex Klenman, CEO of Armory Mining. "Identifying and confirming domestic sources of critical minerals is a major priority and Armory is intent on advancing its current assets in this regard."
Antimony's Strategic Importance in a Shifting Global Landscape
According to a November 13 article from the World Economic Forum (WEF), antimony remained one of the most concentrated critical minerals globally, with over 90% of mine production coming from China, Russia, and Tajikistan. The WEF emphasized that this concentration created a strategic risk for Western economies and defense-related supply chains. It also noted that "the real bottleneck isn't refining capacity, which is underutilized outside China, but upstream mining," and called for the development of new or reactivated sources to reduce dependence on dominant suppliers.
On November 17, Luca Sazzini reported that antimony oxide prices in Europe surged due to China's sharp export cuts. His analysis showed European prices doubled between late 2024 and 2025, reaching close to 47,000 euros per tonne, while Chinese prices stayed around 22,000 euros per tonne. He wrote that "the effects of the latest restrictions emerged in 2025, with a drop in [Chinese antimony oxide] exports of more than 80% compared to 2024 levels." Sazzini added that while Belgium had tried to fill the supply gap, it lacked upstream production, relying instead on recycling and imports.
In a separate article published the same day, Alaska Business highlighted antimony's expanding range of industrial and defense applications. The piece described antimony as "a vital component in lead-acid batteries and a strategic element used in munitions," with growing demand in electronics, solar panels, and semiconductor substrates. Christopher Gerteisen stated that "all medium and small caliber artillery shells require antimony" and that it was also used in armor-piercing technology.
The publication also noted a dramatic price increase for the metal, citing a rise from approximately US$13,000 per tonne to as high as US$60,000 over the previous year. It attributed this surge to constrained supply and increased strategic interest in domestic sourcing.
Building a Portfolio Aligned with Critical Mineral Demand
The Ammo project represents a key part of Armory Mining's strategic focus on minerals critical to national security, energy, and defense applications. Located in central Nova Scotia, the 3,092-hectare land package surrounds the past-producing West Gore mine, a historical source of both antimony and gold. The geological context and past production have made the area a high-priority exploration target.
According to Armory's investor presentation, the initial phase of work will include prospecting, surface sampling, and geophysics aimed at identifying drill targets across previously unexplored ground. The site benefits from road access and proximity to infrastructure, and it lies within an established mining jurisdiction. Armory has allocated up to CA$500,000 for this phase and plans to advance the program methodically.
In its investor presentation, Armory highlighted antimony's strategic importance, particularly in military applications, energy storage, and manufacturing. With most of the global antimony supply concentrated in China, Russia, and Tajikistan, the project may contribute to diversification efforts across North American and allied supply chains.
Streetwise Ownership Overview*
Armory Mining Corp. (ARMY:CSE; RMRYF:OTC; J2S:FRA)
Ownership and Share Structure 1
0.65% of Armory Mining is held by management and insiders. The rest is retail.
Armory Mining has 50.51 million free float shares, a market capitalization of CA$2.75 million. As of September 12, 2025, the 52-week range is CA$0.0000 - CA$0.2700.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
