Marquee Faces Funding Crunch as It Advances Key Rare Earth and Antimony Projects

Maiden Resource at Redlings Signals Rare Earth Potential

Marquee Resources Limited (ASX: MQR) has delivered a significant milestone with the announcement of its maiden Inferred Mineral Resource Estimate (MRE) at the Redlings Rare Earth Project in Western Australia. The resource stands at 11 million tonnes grading 1,130 ppm total rare earth oxides (TREO), equating to 12,430 tonnes of contained rare earth oxides (REO), including 2,316 tonnes of magnetic rare earth oxides (MREO). This inaugural resource confirms the project’s potential as a meaningful rare earth element (REE) deposit in a region proximate to Lynas Corporation’s Mt Weld Project.

Importantly, the company has defined a substantial JORC Exploration Target surrounding the current resource, ranging from 204 to 306 million tonnes at 950-1,130 ppm TREO, which could translate to 194,000 to 346,000 tonnes of contained REO. This target area, supported by auger geochemistry and magnetic signatures, highlights the opportunity to significantly expand the mineralised envelope through infill drilling and linking of discrete prospects.

Advancing Mt Clement with Promising Antimony and Base Metals

At the Mt Clement Project, Marquee has reported encouraging results from rock chip and soil sampling programs, revealing notable concentrations of antimony (Sb), lead (Pb), gold (Au), and arsenic (As). These geochemical anomalies align with prospective structures analogous to the nearby Eastern Hills deposit operated by Black Cat Syndicate (ASX: BC8).

The company is poised to commence its maiden drilling campaign targeting extensions of the Eastern Hills Sb-Pb deposit, pending heritage survey approvals with the Jurruru Native Title Party. The planned Phase 1 program involves approximately 3,000 metres of reverse circulation drilling across 22 holes, focusing on historical high-grade intercepts and newly identified prospective structures.

Expanding Exploration Footprint and Strategic Capital Raise

Marquee continues to advance its broader portfolio with a Research Permit application lodged for the Sa Pedra Bianca Gold and Silver Project in Sardinia, Italy. This permit will enable drilling to confirm historical resource estimates, which include 376,000 ounces of gold and 1.58 million ounces of silver, albeit currently classified as a non-JORC historical estimate.

Meanwhile, the West Spargoville Project remains under evaluation, with a focus on lithium, gold, and nickel mineral systems. No on-ground work was conducted during the quarter, but data re-assessment aims to identify new gold targets in a region experiencing corporate activity.

Financially, Marquee successfully completed a share placement raising approximately $829,000 at $0.012 per share, accompanied by free attaching options exercisable at $0.05. The capital raise attracted strong support from high-net-worth investors and existing shareholders, reflecting confidence in the company’s exploration strategy and project pipeline.

Cash Position and Operational Outlook

The company reported a cash balance of $367,000 at quarter-end, with net operating and investing cash outflows reflecting ongoing exploration expenditure. Estimated funding runway stands at less than half a quarter, prompting management to confirm plans to raise additional capital to sustain operations and exploration momentum.

Payments to related parties, including director fees and consulting services, were disclosed in line with ASX requirements, underscoring transparent governance practices.

Looking Ahead

Marquee Resources is entering a pivotal phase with imminent drilling at Mt Clement and the potential to significantly expand the Redlings resource base. The company’s multi-commodity portfolio, spanning rare earths, antimony, gold, lithium, and base metals, positions it well to capture value amid evolving market dynamics for critical minerals.