Lode Resources Ltd (ASX: LDR), a company focused on exploration and project generation aligned with Tasmania’s critical resource strategy, has announced promising gold assays from its ongoing drill program at the Montezuma Antimony & Silver Project. The first batch of gold assays, received from nine drill holes, significantly enhance previously reported high-grade antimony and silver drill intercepts. The Montezuma Antimony & Silver Project is located in Tasmania’s premier West Coast Mining Province.
The drill program, consisting of an extensive 50-to-60-hole campaign (8,000m to 10,000m), aims to quantify and extend the Montezuma deposit. Notable intercepts 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. Other significant intercepts were found in drill holes MZS09, MZS10, MZS11, MZS12 and MZS13.
According to Lode Resources, the gold assays substantially increase the metal values in the Montezuma mineralisation. The antimony and silver lode remains open along strike and at depth, suggesting further exploration potential. Antimony and silver equivalent figures are reported due to the interchanging dominance of these metals, while gold assay figures are not included in equivalent figures due to it not being assayed in an early flotation test.
The company has commissioned ALS Metallurgy in Bernie to conduct comprehensive flotation tests on the Montezuma Antimony & Silver mineralisation, including gold recovery. Further drill hole assay results are expected shortly, as drilling continues at the site. These results are anticipated to further define the extent and grade of the mineralisation at the Montezuma project.
