Lode Resources has reported promising early exploration results at its Montezuma Silver & Antimony Project in Tasmania, revealing high-grade assays and expanding its land holdings in a critical minerals hotspot.
- High-grade silver, antimony, and copper assays from Fahlore mine grab samples
- Ongoing drilling delineates significant mineralisation with open extensions
- Rediscovery of Blocks East workings and multiple soil anomaly targets
- Expansion of exploration footprint with recent tenement acquisitions
- Antimony highlighted as a critical metal amid tightening global supply
Exploration Breakthrough at Fahlore
Lode Resources Ltd (ASX – LDR) has announced encouraging early results from its regional exploration activities around the Montezuma Silver & Antimony Project in Tasmania. Grab samples collected from historic waste dumps at the Fahlore mine workings have returned exceptionally high-grade assays, including silver concentrations up to 2,480 grams per tonne and antimony levels exceeding 2%. Copper was also present in notable quantities, underscoring the polymetallic nature of the deposit.
The mineralogy at Fahlore, featuring jamesonite, galena, tetrahedrite, and chalcopyrite, closely mirrors that of the Montezuma deposit itself, which is currently undergoing systematic drilling. The Fahlore workings extend over 350 metres along strike, presenting a substantial target for further exploration.
Expanding the Montezuma Footprint
Beyond Fahlore, Lode has successfully rediscovered the Blocks East antimony-silver workings, guided by historic soil geochemical anomalies. This rediscovery, alongside multiple other targets defined by extensive soil sampling programs dating back to the 1980s, highlights the district’s underexplored potential for structurally controlled antimony-silver sulphide deposits.
Significantly, Lode has expanded its land position with the acquisition of tenement EL2/2020, adding 88 square kilometres, and a tenement application EL6/2025 covering 71 square kilometres. These strategic moves consolidate Lode’s presence in Tasmania’s West Coast Mining Province, a region known for its rich polymetallic mineralisation.
Drilling Confirms High-Grade Mineralisation
The ongoing diamond drilling program at Montezuma has delineated high-grade silver and antimony mineralisation over a 200-metre strike length and to a depth of 200 metres, with the deposit remaining open for expansion. Noteworthy intercepts include intervals grading up to 5% antimony and over 1,600 grams per tonne silver equivalent, reinforcing the deposit’s robust metal endowment.
Lode’s Managing Director, Ted Leschke, emphasized the project’s potential as a model for discovering similar deposits in the region, noting the importance of the structurally controlled granite-related mineralisation style. The company is advancing metallurgical test work and infrastructure development to support future mining operations.
Antimony’s Strategic Importance
Antimony, a critical metal classified by both the Australian Federal and Tasmanian Governments, has seen supply constraints intensify globally. China’s recent export ban on antimony products to the United States has further tightened markets, driving prices to record highs. Montezuma stands as Tasmania’s only antimony project, positioning Lode at the forefront of supplying this vital mineral amid growing demand for critical minerals.
With preliminary metallurgical recoveries indicating strong potential for commercial extraction, Lode’s Montezuma project is well placed to capitalize on the tightening antimony market and the broader critical minerals strategy outlined by the Tasmanian Government.
Bottom Line?
Lode’s Montezuma project is shaping up as a key player in critical minerals, but upcoming drill results and metallurgical tests will be pivotal in defining its commercial viability.
Questions in the middle?
- How will forthcoming drilling refine the resource size and grade at Montezuma?
- What are the timelines and outcomes expected from ongoing metallurgical test work?
- How might global antimony market dynamics and regulatory changes impact project economics?