Lode Resources has extended the Montezuma Silver & Antimony deposit in Tasmania, revealing high-grade mineralisation over a significant strike and depth. New drilling results show promising grades, supporting ongoing exploration and metallurgical testing.
- High-grade silver and antimony mineralisation extended over 260m strike and 220m depth
- Drill intercepts include up to 936 g/t silver equivalent and 2.63% antimony equivalent
- Fifteen mineralised intercepts from eight drill holes with wide intercepts up to 8.5m
- Drilling ongoing to test deposit down to 350m vertical depth
- Metallurgical flotation tests progressing towards pilot plant simulation
Expanding a Critical Mineral Deposit
Lode Resources Ltd (ASX, LDR) has announced a new batch of high-grade drill results from its Montezuma Silver & Antimony Project, located in Tasmania’s renowned West Coast Mining Province. The latest assays confirm that the mineralised lode extends over a strike length of 260 metres and to a depth of 220 metres, with mineralisation remaining open for further expansion.
The Montezuma deposit is notable for its polymetallic nature, dominated by silver and antimony but also containing gold, lead, copper, and tin. This diversity adds complexity and potential value to the project, which is Tasmania’s only antimony deposit; a metal classified as critical by Australian and international governments due to its strategic importance.
Impressive Drill Intercepts
The latest drilling campaign delivered 15 mineralised intercepts across eight drill holes, with seven holes returning wide intercepts ranging from 3 to 8.5 metres. The standout intercept came from drill hole MZS25, which returned 8.5 metres grading 306 grams per tonne silver equivalent (AgEq), including a high-grade 3-metre section at 597 g/t AgEq. Other notable intercepts include 7.5 metres at 246 g/t AgEq and 5.5 metres at 169 g/t AgEq, demonstrating consistent mineralisation across the tested sections.
These results rank among the top quintile of all intercepts recorded at Montezuma, particularly at depth, where the three deepest holes (MZS17, MZS22, and MZS27) confirmed strong mineral endowment. The drilling orientation and methodology were designed to intersect the mineralised lodes close to true width, providing confidence in the reported grades and thicknesses.
Ongoing Exploration and Metallurgical Progress
With mineralisation remaining open both along strike and at depth, Lode Resources is advancing a 50-to-60-hole drilling program targeting extensions down to 350 metres vertical depth. This systematic approach aims to delineate the full extent of the deposit and support future resource estimation.
Complementing the drilling, metallurgical flotation tests are underway at ALS Metallurgy in Burnie, Tasmania. The program is progressing to the final “Locked Cycle” stage, simulating full-scale plant conditions to optimise recovery of silver, antimony, lead, and copper. Early test work indicates promising recoveries, reinforcing the deposit’s economic potential.
Strategic Importance of Antimony
Antimony’s critical status is underscored by recent geopolitical developments, including China’s export restrictions and subsequent trade agreements affecting supply to key markets like the United States. Tasmania’s government has highlighted critical minerals in its strategic plans, positioning Montezuma as a key domestic source of antimony.
Lode Resources’ Managing Director, Ted Leschke, emphasised the significance of the ongoing results, “The open-endedness of mineralisation outlined to date means we are now planning to extend drilling at depth and along strike.” This suggests a growing confidence in the deposit’s scale and quality, with implications for future development.
Looking Ahead
The Montezuma Silver & Antimony Project benefits from existing beneficiation infrastructure and proximity to the Zeehan township, facilitating potential future operations. As drilling and metallurgical testing continue, the market will be watching closely for updates that could define Montezuma’s role in supplying critical minerals amid tightening global markets.
Bottom Line?
Lode Resources’ latest drilling success at Montezuma reinforces its potential as a significant source of critical minerals, setting the stage for further resource growth and development.
Questions in the middle?
- How will ongoing drilling at depth impact the overall resource size and classification?
- What are the final metallurgical recovery rates expected from the locked cycle flotation tests?
- How might evolving global antimony supply dynamics influence Montezuma’s strategic value?