Lode Resources Ltd (ASX:LDR) is acquiring a high-grade polymetallic play in Tasmania – the Montezuma Antimony Project – where surface grab samples revealed up to 25.4% antimony (Sb) and 3,050 grams per tonne (g/t) silver (Ag).

The company signed a heads of agreement to take on 100% of the project located in Tasmania’s West Coast mining province. It’s surrounded by prominent mining centres such as Rosebery (zinc-copper-lead), Renison Bell (antimony), Henty (gold), and Zeehan (lead-silver).

Core samples from drilling at Montezuma have backed up strong grades from grab samples, and included up to 20.3% Sb and 1,990g/t Ag, while development face samples have shown grades as high as 21.4% Sb and 2,478g/t Ag.

Bulk sampling has commenced alongside an exploration drive, with representative bulk sampling grades averaging 4.75% Sb and 239 g/t Ag (for combined mineralisation/waste), while average grades for mineralisation were set at 9.02% Sb and 769 g/t Ag.

Additionally, the project – which is also prospective for lead – boasts advanced metallurgical work, significant mining equipment and beneficiation infrastructure.

Crucially, the metallurgical work has shown that a saleable antimony product is possible, with recoveries of 90% being taken from previous testing.

Research and development (R&D) funding discussions are continuing with institutions both within Tasmania, Australia and other countries.

Lode shares rose on the news, and at 15:16 AEDT, they were trading at 12.5 cents – a rise of 13.64% since the market opened.

Join the discussion: See what HotCopper users are saying about Lode and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.