Marquee Resources has progressed its Mt Clement antimony-gold project with Phase 1 drilling completed and assay results pending, alongside a $596,000 capital raise and a key executive appointment.
- Completion of Phase 1 drilling at Mt Clement targeting antimony extensions
- Pending assay results expected within weeks to guide Phase 2 drilling
- Successful $596,165 share placement to bolster funding
- Appointment of Jonathan Currell as new Chief Technical Officer
- Received $469,095 R&D tax incentive rebate post-quarter
Exploration Momentum at Mt Clement
Marquee Resources Limited (ASX, MQR) has reported steady progress in its June 2025 quarterly activities, notably advancing exploration at its 100%-owned Mt Clement Project in Western Australia. The company completed a Phase 1 reverse circulation drilling campaign comprising seven holes over 1,346 metres, targeting extensions of the Eastern Hills antimony resource adjacent to Black Cat Syndicate’s established deposit. This initial program exceeded the original six-hole plan, reflecting confidence in the prospectivity of the area.
Samples from this drilling have been submitted for assay, with results anticipated within three to four weeks. These outcomes will be critical in refining targets for a fully permitted Phase 2 drilling program, which Marquee is committed to executing cost-effectively to enhance shareholder value.
Capital Raising and Financial Position
To support ongoing exploration and corporate activities, Marquee successfully completed a share placement in May 2025, raising $596,165 at $0.0075 per share. The placement utilized existing capacity under ASX Listing Rule 7.1, and was supported by key management including Executive Chairman Charles Thomas. Post-quarter, the company also received a $469,095 cash rebate under the Australian Government’s Research and Development Tax Incentive program, providing additional liquidity.
Despite these inflows, the company’s cash position remains tight, with estimated funding to cover approximately 0.37 quarters based on current expenditure rates. Marquee plans to sustain operations through a combination of capital raising, drill-for-equity arrangements, joint venture partnerships, and potential project divestments.
Strategic Leadership Appointment
In a significant management update, Marquee appointed Jonathan Currell as Chief Technical Officer effective 1 August 2025. Mr Currell brings extensive exploration experience, including a pivotal role in defining the maiden Mineral Resource Estimate at Marquee’s Redlings Rare Earths Project. His appointment follows the stepping down of Dr James Warren, who will remain available as a consultant. The leadership change is expected to strengthen Marquee’s technical capabilities as it advances its diverse portfolio.
Broader Project Portfolio and Outlook
Beyond Mt Clement, Marquee continues to develop its Redlings Rare Earth Project, with a declared global exploration target of 204–306 million tonnes at 950–1,130 ppm total rare earth oxides. Other projects, including the Sa Pedra Bianca Gold and Silver Project in Sardinia and lithium-focused assets in Nevada, saw limited on-ground activity during the quarter but remain part of the company’s strategic pipeline.
Shareholder meetings held during the quarter approved various resolutions, including the issue of new options and share issuances related to capital raising and drill-for-equity deals. Payments to related parties were disclosed transparently, consistent with ASX requirements.
Bottom Line?
With assay results imminent and a new CTO at the helm, Marquee Resources is poised to define the next phase of growth amid tight funding conditions.
Questions in the middle?
- Will Phase 1 assay results confirm significant extensions to the Mt Clement antimony resource?
- How will Marquee balance its aggressive exploration plans with its limited cash runway?
- What strategic moves will the new CTO prioritize to unlock value across Marquee’s diverse project portfolio?