Lode Resources (ASX:LDR) has signed a heads of agreement to acquire 100% of the Montezuma Antimony Project located in Tasmanian’s premier West Coast Mining Province.
This project includes a high-grade antimony-silver-lead deposit with initial development, advanced metallurgy, significant mining equipment and beneficiation infrastructure.
Highlights
• High-grade Montezuma antimony-silver-lead deposit defined by surface channel sampling, exploration adit face sampling and diamond drill core sampling.
• Development of portal box cut and commencement of exploration drive has produced stockpiled mineralisation. Representative bulk sampling of combined mineralisation/waste averaged 4.75% antimony (Sb) & 239 g/t silver (Ag) and representative bulk sampling of mineralisation only, averaged 9.02% antimony (Sb) & 769 g/t silver (Ag) reconciling well with corresponding face sampling.
• Metallurgical test work is well advanced with 90% recoveries of antimony achieved producing a saleable antimony product.
• R&D funding discussions are ongoing with local and international institutions including those representing major western governments.
• Montezuma Antimony Project acquisition complements Lode’s antimony exploration portfolio in the New England Fold Belt, NSW’s most prolific antimony province. Together, these assets create a formidable Antimony division within Lode.
• Also compliments Lode's high-grade Silver portfolio with assays due shortly from the Webbs Consol Silver project where drilling at the Castlereagh prospect has been completed.