Gold Assays Boost Montezuma’s High-Grade Antimony and Silver Potential

Montezuma’s Drilling Program Delivers Early Gold Results

Lode Resources Ltd (ASX, LDR) has announced the receipt of gold assay results from the initial nine holes of its ongoing extensive drilling campaign at the Montezuma Antimony & Silver Project in Tasmania’s West Coast Mining Province. These assays notably enhance the previously reported high-grade antimony and silver intercepts, adding a new dimension to the project’s mineral endowment.

The drilling program, planned to comprise 50 to 60 holes totaling between 8,000 and 10,000 meters, aims to quantify and extend the Montezuma deposit both down dip and along strike. Early results confirm significant mineralisation within the hanging wall and footwall lodes, as well as multiple stockwork vein zones, with gold grades ranging up to 3.26 grams per tonne over meaningful intervals.

Enhancing Metal Equivalent Grades and Project Value

While Lode Resources reports antimony and silver equivalent grades to reflect the dominant metals’ fluctuating presence, gold assays were not initially included in these calculations due to the absence of gold recovery data from earlier flotation tests. The new gold assay results, however, substantially boost the overall metal values, with intercepts such as 5.14% antimony equivalent plus 1.31 g/t gold over 1.6 meters in drill hole MZS05, and 4.27% antimony equivalent plus 0.85 g/t gold over 3.5 meters in MZS11.

ALS Metallurgy in Burnie has been commissioned to conduct comprehensive flotation testing, including gold recovery, which will be critical to refining the economic potential of the Montezuma mineralisation. The project benefits from existing beneficiation infrastructure and proximity to the Zeehan township, facilitating future development.

Strategic Importance Amid Rising Antimony Demand

Antimony is classified as a critical mineral by the Australian Federal and Tasmanian State Governments, as well as by many advanced economies worldwide. Montezuma is Tasmania’s only antimony project, positioning Lode Resources at the forefront of supplying this increasingly strategic metal. The global antimony market has tightened considerably, with China recently imposing export bans to the United States, driving prices to record highs.

Lode’s Managing Director, Ted Leschke, highlighted that the company’s exploration efforts align closely with Tasmania’s Critical Minerals Strategy, aiming to bolster the state’s credentials in this vital sector. The ongoing drilling and metallurgical work are expected to further define the resource and support future development plans.

Looking Ahead

With drilling continuing and further assay results pending, the Montezuma Project remains open for expansion both along strike and at depth. The integration of gold into the project’s metal profile could enhance its attractiveness to investors and partners, especially as global demand for critical minerals intensifies.