Lode Resources Unveils Record-High Antimony and Silver Intercepts at Montezuma

Montezuma Project Delivers Exceptional Drill Results

Lode Resources Ltd (ASX – LDR) has announced a new batch of high-grade drill results from its Montezuma Antimony & Silver Project, located in Tasmania’s renowned West Coast Mining Province. The latest assays reveal mineralisation grades reaching up to 2,730 grams per tonne (g/t) silver equivalent, marking some of the most significant intercepts recorded to date.

Among the highlights, drill hole MZS19 returned an impressive intercept of 9.9 meters at 776 g/t silver equivalent, including narrower zones grading as high as 2,491 g/t. Meanwhile, drill hole MZS22 has extended mineralisation to a vertical depth of 220 meters, the deepest intercept so far, with individual samples grading up to 675 g/t silver equivalent.

Expanding Mineralisation and Bulk Tonnage Potential

The mineralised zone now spans approximately 220 meters along strike and to depth, remaining open in all directions. Four out of five recent drill holes returned wide intercepts ranging from 4.5 to 11.2 meters, suggesting the potential for a bulk tonnage resource rather than isolated high-grade pockets. This is a critical development for the project’s scalability and future economic viability.

Geologically, the mineralisation is hosted within steeply dipping fissure veins associated with the Montezuma fault, with both antimony and silver dominating the metal content. The deposit also exhibits polymetallic characteristics, with notable gold, lead, copper, and tin values enhancing its overall value proposition.

Strategic Importance Amid Soaring Metal Prices

Antimony is classified as a critical metal by the Australian Federal and Tasmanian State Governments, as well as by many advanced economies worldwide. Its role in renewable energy technologies and other industrial applications has driven demand sharply higher. Lode’s Managing Director, Ted Leschke, highlighted the market context – "Silver prices have surged above US$40 per ounce, nearly tripling since mid-2020, while Western market antimony prices have soared above US$50,000 per tonne, a more than 400% increase since early 2024." This price environment significantly enhances the Montezuma Project’s commercial outlook.

Additionally, recent export restrictions by China on antimony products to the United States have tightened global supply, further underscoring the strategic value of Montezuma as Tasmania’s only antimony project, wholly owned by Lode Resources.

Ongoing Metallurgical Testing and Next Steps

Lode is progressing comprehensive flotation tests at ALS Metallurgy in Burnie, Tasmania, aiming to optimise recovery of antimony, silver, lead, and copper. Preliminary results are expected in the coming weeks and will be pivotal in refining processing strategies and confirming economic parameters.

The company continues an extensive drilling campaign, targeting both lateral and depth extensions of the mineralised zones. The combination of high-grade intercepts, significant widths, and ongoing exploration success positions Montezuma as a promising critical minerals asset in a tightening global market.