Resource Expansion at Mt Clement Raises Questions on Project Scale

Phase 2 Drilling Validates Mt Clement’s Potential

Marquee Resources Limited (ASX, MQR) has delivered encouraging early assay results from its recently completed Phase 2 reverse circulation drilling program at the Mt Clement (Eastern Hills) Antimony Project in Western Australia. The initial batch of assays confirms consistent antimony mineralisation across all reported holes, including high-grade intersections that reinforce the quality of the deposit.

Notably, the drilling has confirmed mineralisation in the three recognised zones, Taipan, Gwardar, and the newly identified Dugite Zone. The Dugite Zone represents a fresh mineralised domain within the project area, previously untested by Marquee, and its discovery significantly enhances the project’s upside potential.

Extending Beyond Maiden Resource

The Phase 2 campaign drilled 2,908 metres across 14 holes, bringing the total drilling at Mt Clement to 4,254 metres over 21 holes. The results demonstrate mineralisation continuity beyond the boundaries of Marquee’s maiden Mineral Resource Estimate (MRE) declared in September 2025, which reported 1.14 million tonnes at 0.6% antimony equivalent for 6,800 tonnes of contained metal.

Key assay highlights include intercepts such as 6 metres at 1.32% antimony with significant silver and lead credits, and 8 metres at 0.58% antimony including higher-grade intervals. These grades, combined with the widths and multiple mineralised structures, suggest robust potential for resource growth as further assays are received.

Strategic Metallurgical Testing and Partnerships

In parallel with drilling, Marquee has shipped high-grade ore samples to Yantai Jinao in China, who have commenced metallurgical test work. The initial sample met expectations, prompting a second shipment with higher-grade material from Phase 2 drilling to better simulate potential production scenarios. This collaboration is critical to de-risking processing pathways and advancing Mt Clement as a credible Western supply source of antimony, a mineral of strategic importance globally.

Antimony’s critical status in Australia, the US, and Europe, coupled with its concentrated supply from China and Russia, underscores the strategic value of Marquee’s project. The upcoming executive meeting in China is expected to further cement strategic pathways for both upstream exploration and downstream processing.

Looking Ahead, Phase 3 and Resource Update

Marquee anticipates releasing the final batch of Phase 2 assay results by mid to late January 2026, followed by an updated JORC Mineral Resource Estimate that incorporates the new drilling data. The company is preparing to commence Phase 3 drilling in the first quarter of 2026, targeting the highest-impact extensions identified in the recent campaigns.

Situated adjacent to Black Cat Syndicate’s substantial antimony deposit, Mt Clement is emerging as a cornerstone asset for Marquee Resources. The combination of consistent mineralisation, expanding resource potential, and advancing metallurgical work positions the project well within the competitive Australian antimony sector.