Marquee Resources has reported strong progress on its Mt Clement antimony and gold project with successful Phase 2 drilling and a strategic collaboration for metallurgical testwork, alongside a significant capital raise to fund ongoing exploration.
- Completion of Phase 2 drilling at Mt Clement confirming consistent antimony mineralisation
- Non-binding collaboration with Chinese firm Yantai Jinao for metallurgical testwork and potential offtake
- Defined significant exploration target expansion at Redlings rare earth element project
- Successful oversubscribed $2.5 million share placement with shareholder approvals
- Ongoing exploration and development plans across multiple projects including gold and lithium assets
Mt Clement Project Momentum
Marquee Resources Limited (ASX – MQR) has delivered a robust quarterly update for December 2025, highlighting key advances at its flagship Mt Clement Project in Western Australia. The company completed its Phase 2 drilling program, extending the known mineralised strike by 400 metres to the northeast and confirming antimony mineralisation across multiple zones including the newly identified Dugite Zone. Early assay results reveal promising grades, with intersections such as 6 metres at 1.32% antimony and 15 grams per tonne silver, underscoring the deposit’s potential.
Complementing the drilling success, Marquee formalised a non-binding Memorandum of Collaboration with Yantai Jinao Environmental Protection Technology Co. Ltd., a major Chinese player in antimony and non-ferrous metals. This partnership aims to advance metallurgical testwork, flowsheet development, and explore potential offtake arrangements, leveraging Yantai Jinao’s advanced recycling and smelting technologies. The collaboration could be pivotal in scaling Mt Clement towards production while maintaining environmental stewardship.
Expanding Rare Earths and Other Projects
Beyond Mt Clement, Marquee’s Redlings Rare Earth Element Project continues to show significant upside. The company outlined a substantial JORC Exploration Target ranging from 204 to 306 million tonnes at grades up to 1,130 ppm total rare earth oxides, potentially expanding the maiden resource thirteen-fold. Discussions with advanced separation technology groups are underway, aiming to enhance project value through strategic partnerships.
Marquee also reported progress on other assets including the Sa Pedra Bianca gold-silver project in Sardinia, where environmental approvals are underway, and the West Spargoville lithium-gold-nickel project, where data re-evaluation is ongoing to identify new gold targets. The Yindi Gold and Lithium Project remains strategically positioned near major gold operations, reinforcing its exploration appeal.
Financial Position and Outlook
Financially, Marquee successfully completed an oversubscribed placement raising approximately $2.5 million at $0.011 per share, with attaching options approved by shareholders. This capital injection strengthens the company’s balance sheet, supporting ongoing exploration and development activities. Cash flow reports indicate disciplined expenditure with a clear focus on advancing key projects.
Looking ahead, Marquee plans to receive final Phase 2 assay results, update the Mt Clement JORC resource, and commence Phase 3 drilling in early 2026. Metallurgical testwork outcomes and potential offtake agreements with Yantai Jinao will be closely watched by investors. The company’s diversified portfolio across antimony, gold, rare earths, and lithium positions it well to capitalise on evolving commodity markets.
Bottom Line?
Marquee’s strategic drilling and partnerships at Mt Clement, backed by fresh capital, set the stage for a pivotal year ahead.
Questions in the middle?
- How will final Phase 2 assay results influence the updated Mt Clement resource estimate?
- What progress will be made on offtake negotiations with Yantai Jinao and potential funding partnerships?
- Can Marquee successfully expand the Redlings rare earths resource through upcoming drilling programs?