Lode Moves Forward with Acquisition of Tasmanian High-Grade Antimony and Silver Assets

2 min read | October 23, 2024 03:45 PM AEDT | By Team Kalkine Media

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Lode Moves Forward with Acquisition of Tasmanian High-Grade Antimony and Silver Assets — Image source: Shutterstock

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Highlights

Acquisition of Montezuma Project: Lode Resources Ltd is set to acquire the high-grade Montezuma Antimony Project in Tasmania, known for exceptional surface grab sample results.

Strong Drilling Results: Core samples have confirmed high grades of antimony and silver, with development face samples revealing even greater concentrations.

Metallurgical and Infrastructure Advancements: The project includes advanced metallurgical work indicating strong recoveries, along with significant mining equipment and beneficiation infrastructure.

Lode Resources Ltd (ASX:LDR) is advancing its portfolio with the planned acquisition of the Montezuma Antimony Project, a high-grade polymetallic asset located in Tasmania's West Coast mining province. The project has generated considerable interest following surface grab samples that revealed antimony (Sb) concentrations reaching 25.4% and silver (Ag) levels of 3,050 grams per tonne (g/t).

The company has entered into a heads of agreement to obtain 100% ownership of the Montezuma Project, strategically situated near prominent mining centers, including Rosebery (known for zinc, copper, and lead), Renison Bell (antimony), Henty (gold), and Zeehan (lead-silver). Initial drilling efforts have corroborated the strong grades observed in grab samples, with core samples showing up to 20.3% Sb and 1,990 g/t Ag. Furthermore, development face samples have indicated impressive grades of 21.4% Sb and 2,478 g/t Ag.

Currently, bulk sampling is underway alongside an exploration drive. Representative bulk sampling has yielded average grades of 4.75% Sb and 239 g/t Ag when considering combined mineralization and waste. The average grades for mineralization alone have been recorded at 9.02% Sb and 769 g/t Ag.

The Montezuma Project is also prospective for lead and features advanced metallurgical work that has demonstrated the feasibility of producing a saleable antimony product, achieving recoveries of 90% from previous tests. Discussions regarding research and development (R&D) funding are ongoing with various institutions both domestically and internationally.

Following the announcement, Lode Resources shares experienced a rise, trading at 12.5 cents, reflecting an increase of 13.64% since the market opened. This acquisition positions Lode Resources favorably within the burgeoning demand for critical minerals.

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