Lode Resources (ASX:LDR) Advances Magwood Antimony Project
Exploration Update
Lode Resources Ltd (ASX:LDR) has initiated a 15-hole drilling programme at its Magwood Antimony Project in NSW, testing semi-parallel lode structures and historical mine workings down to 450m depth. This project, alongside the Montezuma Antimony Project in Tasmania, forms a robust antimony portfolio.
Assay Results
Grab samples from the Magwood mine have returned antimony grades up to 41.7% Sb and gold up to 6.14 g/t Au. Significant antimony grades include 16.3% Sb (R494), 29.8% Sb (R497), and 29.9% Sb (R504).
Executive Comments
Managing Director Ted Leschke stated, “The Magwood antimony mine is a highly attractive drill target given it has not been drilled to date despite a history of significant antimony production. Lode’s second antimony asset is just screaming out to be drilled. The geology of the Magwood mine draws strong geological analogies with the Hillgrove antimony mine located a short distance to the south. The Magwood and Montezuma Antimony Projects together form a formidable antimony division within Lode.”
Executive Chair Andrew van Heyst added, “This is a very exciting time for Lode shareholders. Your company is well positioned and fully funded for all planned operations. The drilling at Montezuma is going very well and we have a great team in place to manage operations there. Drilling is about to begin at Magwood where incredibly this historic antimony mine has never been drilled, nor has there been any prior reporting for gold. Shareholders can look forward to a steady stream of news flow from both projects over the rest of the year. In addition the team has been working on our high-grade silver project Webbs Consol. We look forward to updating shareholders shortly about next steps and delivering a Maiden Resource Estimate.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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