How High Can Lode Resources Push Montezuma’s Silver and Antimony Grades?
Lode Resources has reported a series of impressive high-grade silver and antimony drill results from its Montezuma Project in Tasmania, alongside completing a significant divestment of its Webbs Consol Silver Project, strengthening its balance sheet for further exploration.
- High-grade silver and antimony assays from 35 drill holes at Montezuma
- Drill program ongoing with plans to extend resource depth to 400m
- Completed sale of Webbs Consol Silver Project for A$3.75 million cash plus shares and royalties
- Appointment of mining veteran Simon Milroy as Non-Executive Director
- Cash reserves strengthened to approximately A$3.42 million
Strong Drill Results at Montezuma
Lode Resources Ltd has delivered a robust update on its flagship Montezuma Silver & Antimony Project, situated in Tasmania’s renowned West Coast Mining Province. The company announced assay results from 35 of 39 drill holes, revealing numerous high-grade silver and antimony intercepts. Highlights include individual interval assays reaching up to 4,035 grams per tonne silver equivalent (AgEq) and 11.35% antimony equivalent (SbEq), with notable gold and tin grades also reported.
The ongoing drill program, which aims to extend the resource down to 400 metres, has so far confirmed the deposit’s polymetallic nature, with significant values of gold, tin, copper, and lead complementing the dominant silver and antimony mineralisation. The mineralised structures remain open in all directions, suggesting further upside potential.
Strategic Divestment of Webbs Consol Silver Project
In a move to strengthen its financial position, Lode Resources completed the divestment of its Webbs Consol Silver Project during the quarter. The transaction, valued at approximately A$12.6 million, included A$3.75 million in cash, 115 million shares in Rapid Critical Metals Limited, and a 2% net smelter return royalty over the Webbs Consol deposit. This divestment not only bolsters Lode’s balance sheet but also provides shareholders with exposure to a consolidated silver resource through Rapid Critical Metals.
Experienced Leadership Addition
Further reinforcing its strategic direction, Lode appointed Simon Milroy as a Non-Executive Director. Milroy brings over 30 years of mining industry experience, including leadership roles in exploration, mine development, and operations across Australia and Southeast Asia. His expertise is expected to support Lode’s growth ambitions, particularly as it advances its Montezuma and other projects.
Financial Position and Upcoming Activities
As of 31 December 2025, Lode Resources held cash reserves of approximately A$3.42 million, providing a solid foundation for ongoing exploration and development. The company reported operating expenditure of around A$301,000 for the quarter, with exploration and evaluation costs at A$901,000. Looking ahead, Lode plans to continue its extension drilling at Montezuma, initiate exploration at its Granville tin skarn and Silver Cliffs silver-antimony projects pending licence approvals, and commence an extensive drill program at the Uralla gold project in New South Wales.
With antimony increasingly recognised as a critical metal globally and supply constraints tightening, Lode’s Montezuma project holds strategic importance. The company’s integrated approach, combining high-grade drilling results, infrastructure readiness, and financial prudence, positions it well to capitalise on rising demand for critical minerals.
Bottom Line?
Lode Resources’ strong drill results and strategic asset sale set the stage for accelerated growth, but upcoming metallurgical tests and exploration licence approvals will be key to watch.
Questions in the middle?
- How will further metallurgical testing impact the recoverability and valuation of gold and tin in the Montezuma deposit?
- What is the timeline and likelihood for granting exploration licences at Silver Cliffs and Granville projects?
- How will the market respond to Lode’s increased exposure to Rapid Critical Metals through the Webbs Consol divestment?
