Highlights
Lode Resources Ltd (LDR) advances work at the Magwood antimony project in New South Wales
Historical mine site draws focus due to geological alignment with known antimony-rich locations
Sampling and geological review precede a multi-target diamond drilling initiative
Operating within the mineral exploration sector, Lode Resources Ltd (ASX:LDR) is included in the ASX All Ordinaries and ASX Emerging Companies indexes. This sector contributes to global resource development through the identification of economically significant mineral deposits. Lode's work in New South Wales exemplifies the active approach taken by companies to evaluate underexplored sites with historical mining significance.
Magwood Project Overview
Located in the New England Fold Belt, the Magwood antimony site represents a key component of Lode Resources Ltd’s exploration program. The area is historically known as Australia's primary antimony-producing mine prior to the 1970s. Despite its past output, the site has not undergone modern drilling efforts. Geological mapping and archived reports have identified antimony-bearing lodes, positioning Magwood as a focus for renewed investigation.
Sampling Activities and Geological Features
Material retrieved from mine dumps during sampling revealed the presence of antimony and gold. These results follow a structured review of historical records and field observations. Lode has outlined its plan to initiate diamond drilling, supported by this data. The company aims to investigate structural zones and lode systems that have not yet been explored with contemporary techniques.
Planned Drilling Strategy
Lode Resources Ltd has identified several key objectives within the Magwood site. These include targeting lodes situated parallel to former workings, inspecting mineralised zones within existing tunnels, and exploring down-plunge extensions of previous deposits. A structural feature northeast of the main site has also been marked for assessment. The coordinated drilling strategy is designed to address various geological targets through a staged program.
Historical Context and Comparative Sites
Historical grades recorded at the Magwood mine place antimony content within a wide range. The geological setting shares similarities with the Hillgrove mine, a known antimony site, enhancing interest in the area. These common features provide context for the planned drilling program and position Magwood within a broader narrative of regional mineral occurrence.
Ongoing Exploration Across Multiple Projects
In addition to Magwood, Lode Resources Ltd is progressing with the Montezuma Project in Tasmania. This site, located in the West Coast Mining Province, is already undergoing drilling. The parallel development of these assets highlights Lode’s broader operational presence within the antimony exploration field, reinforcing its focus on targeted mineral identification across distinct geological zones.