Lode Reports Up to 12% Antimony and 1,677 g/t Silver in Montezuma Drilling
Lode Resources has completed the acquisition of the Montezuma Antimony Project in Tasmania, delivering high-grade drill results that bolster its strategy to become a leading Australian antimony producer amid global supply shortages.
- Acquisition of Montezuma Antimony Project in Tasmania completed
- High-grade drill intercepts include up to 12.02% antimony and 1,677 g/t silver
- Significant gold, copper, and tin mineralisation enhances project value
- Ongoing exploration at Webbs Consol Silver Project yields strong silver and zinc results
- Company fully funded with $4.58 million cash for upcoming exploration and development
Strategic Acquisition Positions Lode Resources for Antimony Leadership
In the December quarter, Lode Resources Ltd marked a pivotal step in its growth trajectory by completing the acquisition of the Montezuma Antimony Project, situated in Tasmania's renowned West Coast Mining Province. This move significantly accelerates Lode's ambition to become Australia's next antimony producer, a timely development given the current global supply shortages and record-high antimony prices.
Exceptional Drill Results Highlight Project Potential
Following the acquisition, Lode received inaugural assay results from the Montezuma Project's drilling program, revealing spectacular high-grade mineralisation. Noteworthy intercepts include 12.02% antimony (Sb), 1,677 g/t silver (Ag), and 1.16 g/t gold (Au) over 2.6 meters, alongside other significant zones exceeding 12% Sb and substantial silver and gold grades. These intercepts are contained within broader mineralised zones, indicating a robust and extensive deposit.
In addition, the assays uncovered valuable by-products such as gold, copper, and tin, enhancing the overall mineral endowment and potential economic viability of the project. The deposit remains open along strike and at depth, with further drilling planned to delineate extensions.
Advanced Infrastructure and Metallurgical Progress
The Montezuma Project benefits from existing beneficiation infrastructure, including a pilot-scale plant equipped with crushers, mills, gravity tables, and a tailings dam. Metallurgical test work conducted by Core Resources has demonstrated promising recovery rates, with a 90% antimony recovery and a concentrate containing 47% antimony by weight. The production of sodium pyroantimonate, a compound in demand for glass clarifying and solar panel manufacturing, underscores the project's strategic importance.
Continued Exploration Success at Webbs Consol Silver Project
Alongside Montezuma, Lode reported further significant drilling results at its 100% owned Webbs Consol Silver Project in New South Wales. Diamond drilling at the Castlereagh and Webbs Consol North prospects intercepted substantial silver and zinc mineralisation, with assays confirming high-grade zones that build on previous successes. This diversified portfolio strengthens Lode's position in precious and base metals exploration.
Financial Position Supports Aggressive Development
Financially, Lode Resources remains well-capitalised, ending the quarter with $4.58 million in cash reserves. The company raised $4.5 million through a recent placement, ensuring full funding for the Montezuma exploration program and processing plant optimisation. Operating and exploration expenditures were managed prudently, reflecting a disciplined approach to advancing its projects.
Retention of key personnel from the acquired Montezuma entities aims to facilitate seamless integration and achievement of performance milestones tied to additional share issuances, aligning incentives with project success.
Bottom Line?
With Montezuma's high-grade potential now firmly in hand and a strong cash position, Lode Resources is poised to navigate the critical antimony supply landscape—investors will watch closely as further drilling and development unfold.
Questions in the middle?
- How will upcoming assay results from Montezuma influence resource estimates and project valuation?
- What timeline does Lode Resources envision for transitioning Montezuma from exploration to production?
- How might fluctuating global antimony prices impact Lode’s strategic and operational plans?
