Mt Clement Project Yields 6,800t Antimony Equivalent; A$2.5M Raised for Drilling
Marquee Resources has reported a maiden inferred mineral resource at its Mt Clement antimony project and completed a successful A$2.5 million capital raise to fund further exploration. The company’s strategic positioning in critical metals is gaining momentum amid rising antimony demand.
- Maiden inferred resource of 6,800 tonnes antimony equivalent at Mt Clement
- Initial drilling confirms multiple antimony mineralisation zones and new structures
- Oversubscribed A$2.5 million placement to fund Phase 2 drilling program
- Redlings rare earth project shows significant exploration target expansion
- Strong inbound interest from potential antimony off-takers
Mt Clement Project Breakthrough
Marquee Resources Limited (ASX – MQR) has delivered a significant milestone with the announcement of its maiden inferred mineral resource estimate at the Mt Clement Project in Western Australia. The resource totals 1.14 million tonnes at 0.6% antimony equivalent, containing approximately 6,800 tonnes of antimony equivalent metal. This positions Mt Clement as a noteworthy emerging antimony asset in Australia, especially given its proximity to Black Cat Syndicate’s Eastern Hills deposit, one of the country’s largest undeveloped antimony resources.
The initial reverse circulation drilling campaign exceeded expectations, with all seven holes intersecting mineralisation and revealing extensions to known zones as well as a new sub-cropping structure. Highlights include intersections of up to 9 meters at 0.88% antimony and deeper mineralisation remaining open, suggesting potential for further resource growth.
Capital Raising Fuels Next Phase
Backing this exploration momentum, Marquee successfully completed an oversubscribed share placement raising approximately A$2.5 million. The funds are earmarked primarily for the second phase of drilling at Mt Clement, which aims to test an additional 400 meters of strike length northeast of the current resource. This capital injection reflects strong investor confidence and provides the company with a solid runway to advance its critical metals portfolio.
Expanding Rare Earths and Other Projects
Beyond antimony, Marquee’s Redlings Rare Earth Element (REE) Project in Western Australia also reported a maiden inferred resource of 11 million tonnes at 1,130 ppm total rare earth oxides (TREO). The company has defined a substantial exploration target that could increase the resource area thirteen-fold, underscoring the potential scale of this strategic metals play. Marquee is actively engaging with advanced separation technology groups to progress Redlings further.
Additional projects such as the Yindi Gold and Lithium Project, Sa Pedra Bianca Gold and Silver Project in Sardinia, and lithium assets in Nevada and Western Australia complement Marquee’s diversified exploration portfolio. While some projects await further permitting or drilling, the company’s focus remains on advancing Mt Clement and Redlings as flagship assets.
Strategic Positioning Amid Rising Demand
Antimony is increasingly recognised as a critical metal with rising demand driven by its applications in flame retardants, batteries, and strategic alloys. Marquee’s Mt Clement Project is well positioned to capitalise on this trend, with confirmed mineralisation continuity and growing interest from potential off-takers seeking reliable Australian supply. The company’s methodical approach to resource definition and stakeholder engagement bodes well for its next development phases.
Financially, Marquee reported a net cash outflow from operations of A$449,000 for the quarter, balanced by investing and financing inflows, leaving cash reserves of approximately A$1.38 million at quarter-end. Payments to related parties were disclosed in line with governance standards, and the company is preparing for its upcoming Annual General Meeting scheduled for late November 2025.
Bottom Line?
Marquee’s maiden resource and fresh capital set the stage for a pivotal year ahead as it seeks to unlock the full potential of its critical metals portfolio.
Questions in the middle?
- How will Phase 2 drilling results at Mt Clement impact the resource size and grade?
- What progress will Marquee make in formalising off-take agreements for antimony supply?
- Can the Redlings REE Project’s exploration target be converted into a substantial resource with ongoing drilling?
