Montezuma Drilling Yields Up to 31.9% Antimony and 5,460 g/t Silver Assays

Exceptional Drill Results Confirm Montezuma’s Potential

Lode Resources Ltd (ASX: LDR) has delivered a compelling update from its recently acquired Montezuma Antimony Project in Tasmania’s West Coast Mining Province. The March 2025 quarter saw the company announce a series of high-grade antimony and silver drill intercepts, with assays including 7.0m at 3.57% Sb and 432 g/t Ag, and 8.6m at 5.02% Sb and 738 g/t Ag. These results not only reaffirm the deposit’s exceptional grade but also reveal mineralisation widths broader than previously understood, underscoring Montezuma’s robust exploration upside.

Complementing the drilling, surface mapping and grab sampling focused on a coincident historical geochemical anomaly yielded spectacular assay results, including grab samples grading up to 31.9% antimony and 5,460 g/t silver. This 500m-long anomaly along strike highlights the potential for significant extensions to the known mineralised structure.

Major Drilling Campaign Commences

Following these encouraging results, Lode Resources has initiated an extensive drilling program comprising 50 to 60 holes totaling between 8,000 and 10,000 metres. The program aims to test both strike and dip extensions of the Montezuma deposit, with targeted depths of up to 300 metres and strike lengths of approximately 200 metres. Early drilling progress is reported as well advanced, with several holes completed, positioning the company to rapidly expand its geological understanding and resource potential.

Strategic Importance Amid Global Supply Constraints

Antimony is classified as a critical mineral by both the Australian Federal and Tasmanian State Governments, reflecting its strategic importance in advanced manufacturing and supply chain security. Montezuma stands as Tasmania’s only antimony project, located near established mining centres with existing infrastructure, including power and processing facilities. Lode’s ongoing metallurgical testwork and beneficiation design aim to optimise processing flowsheets, further enhancing the project’s development prospects.

Financial Position and Broader Portfolio

At the end of the quarter, Lode Resources held a healthy cash balance of approximately $3.885 million, fully funding the Montezuma exploration and development activities. The company’s expenditure profile remains consistent with its exploration focus, with no mining production or development activities reported during the period. Beyond Montezuma, Lode maintains a diversified portfolio including the Webbs Consol Silver Project in New South Wales and the New England Antimony Mine, positioning it well across multiple critical and precious metals.

With global antimony prices surging amid supply restrictions, exacerbated by recent Chinese export bans, Lode Resources’ Montezuma Project is well placed to capture growing market demand. The company’s methodical approach to exploration, combined with strategic infrastructure advantages, could accelerate its emergence as a key domestic antimony supplier.