Lode Resources Ltd (ASX: LDR) has announced that first gold assays from its drilling program at the Montezuma Antimony & Silver Project have significantly enhanced previously reported high-grade antimony and silver drill intercepts. Lode Resources is an ASX-listed company focused on exploring and developing critical mineral resources, particularly in Tasmania. The company’s exploration efforts are aligned with the Tasmanian Government’s Critical Minerals Strategy.
The gold assays are from the first nine holes of an extensive 50-to-60-hole drilling program, targeting 8,000m to 10,000m, currently underway at the Montezuma project in Tasmania’s West Coast Mining Province. According to the company, the gold assays substantially increase the metal values encountered within the hanging wall and footwall lodes, as well as numerous stockwork vein zones.
Key intercepts from the drilling include 5.14% SbEq or 1825 g/t AgEq plus 1.31 g/t Au over 1.6m in drill hole MZS05, and 3.66% SbEq or 1301 g/t AgEq plus 0.40 g/t Au over 1.0m in drill hole MZS08. Further significant intercepts were reported from drill holes MZS09 through MZS13. Lode Resources is reporting both antimony and silver equivalent figures due to the interchanging dominance of these metals, but gold assay figures are not included in equivalent figures as gold was not assayed in an early flotation test.
Ted Leschke, Lode’s Managing Director, stated that the gold assays considerably enhance the mineralisation at Montezuma. Further drill hole assay results are expected shortly, and drilling is ongoing, with the Montezuma antimony and silver lode remaining open along strike and at depth. ALS Metallurgy in Bernie has been commissioned to complete comprehensive flotation tests on Montezuma Antimony & Silver mineralisation including the recovery of gold.
