Lode Resources uncovers high-grade antimony at Montezuma project in Tasmania
Lode Resources (ASX: LDR) has identified a significant high-value opportunity along strike from its recently acquired Montezuma project in Tasmania.
Surface mapping and grab sampling over a historically identified geochemical soil anomaly and a modelled extension of the Montezuma mineralised structure have resulted in surface grab samples returning significant antimony, silver and gold values.
The latest high-grade assays from the sampling program include 31.9% antimony, 5,460 grams per tonne silver and as high as 3.04g/t gold.
Local ambitions
Lode accelerated its aim of becoming Australia’s next antimony producer when it completed the acquisition of Montezuma in late November 2024.
The purchase comes during a period of critical global supply shortages and record-high prices for the metal.
The company has moved quickly to commence work at the Tasmanian project, with the latest results highlighting Montezuma’s significant upside.
High-grade antimony
Managing director Ted Leschke said the spectacular high-grade antimony and silver mineralisation has the potential to extend the Montezuma lode along strike by a substantial factor.
“The discovery of this spectacular high-grade mineralisation is the result of excellent predictive exploration work carried out by our highly talented exploration team,” Mr Leschke said.
Lode also expects the project’s coincident strong geochemical soil anomaly 500 metres in length to work in its favour.
New drill program
The company is now planning to undertake a 10,000m diamond drill program in the near future.
“The Montezuma project will enhance Tasmania’s critical resource credentials, as antimony and silver are essential for the renewable industry,” Mr Leschke said.
The deposit is a structurally controlled lode situated primarily within the well-known Montezuma fault and ore grade samples taken from the current adit are highly anomalous in a number of other key metals including copper and zinc.