Lode Resources Ltd (ASX: LDR) has announced multiple high-grade antimony and silver drill intercepts from its ongoing drill program at the Montezuma Antimony & Silver Project in Tasmania. Lode Resources is a mineral exploration company focused on the discovery and development of high-quality resource projects. The company’s primary focus is on exploring critical minerals in Tasmania.
The first batch of assays comes from a 50-to-60-hole drilling program, targeting 8,000m to 10,000m at the Montezuma project. Mineralisation was encountered in all drill holes, leading to the discovery of a second semi-parallel antimony-silver lode and numerous stockwork vein zones. Assays from the first nine drill holes revealed high-grade intercepts, with values reaching up to 9.16% antimony equivalent or 3,254 g/t silver equivalent.
Significant intercepts include 3.88% SbEq or 1378 g/t AgEq over 2.8m in drill hole MZS05, 1.81% SbEq or 644 g/t AgEq over 2.5m in drill hole MZS06, and 4.27% SbEq or 1519 g/t AgEq over 3.5m in drill hole MZS11, including a high-grade section of 9.16% SbEq or 3254 g/t AgEq over 1.5m. Gold assays for the initial nine drill holes are expected soon. A further eight drill holes have been completed with assaying being performed by ALS in Burnie, Tasmania, as well as ALS in Brisbane and Townsville.
Ted Leschke, Lode’s Managing Director, commented that the results demonstrate the high-grade nature of the Montezuma project and significantly extend mineralised lode dimensions with each hole drilled. He also highlighted the project’s potential to enhance Tasmania’s critical resource credentials, given the importance of antimony and silver to the renewable energy sector. Drilling is ongoing, with the Montezuma lode remaining open along strike and at depth.
