Lode Resources (ASX:LDR) reported high-grade antimony and silver drill intercepts from initial drilling at its Montezuma antimony project in Tasmanian, according to a Tuesday Australian bourse filing.
It said the assays showed the mineralization was wider than previously thought, including an intercept of 12.02% of antimony, 1,677 grams per tonne grade of silver, and 1.16 g/t gold over 2.6 meters.
More drill core assays are expected to be received in the coming weeks, the filing said.
The firm added that an extensive diamond drill program of up to 10,000 meters is in the final stages of planning to test for extensions of the deposit.
Its shares rose a little over 2% in trading on Tuesday.
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