Lode Resources (ASX:LDR) reports five ‘high-grade’ intercepts from three mineralised zones in drill hole MZS43 at its Montezuma Silver and Antimony Project in Tasmania.
The hole discovered a new lode named Moores Lode, which returned 437 grams per tonne silver (Ag), 3.4% copper (Cu), 2.4% lead (Pb), 1.2% antimony (Sb), 1.2g/t gold (Au) and 3.7% tin (Sn) over 1m from 133.5m.
MZS43 also extended the Montezuma Lode to the south with 790g/t Ag, 7.2% Cu, 0.30% Pb, 0.30% Sb, 0.80g/t Au, and 0.60% Sn over 1.1m from 220.4m.
The hole intersected two zones of Maestries replacement mineralisation. The upper zone returned 274g/t Ag, 1% Pb, 2.9% zinc (Zn) and 0.80g/t Au over 2.2m from 370.5m.
Lower zone intercepts included 36g/t Ag, 1.7% Pb, and 4.1% Zn over 4.2m from 411.8m, and 39g/t Ag, 0.50% Pb, 3.8% Zn, and 0.23g/t Au over 5.9m from 420.6m.
The company says MZS43 was the first hole drilled from the hanging wall side of the Montezuma Lode. Drilling from that side provided better drilling angles and coverage of both mineralised targets at the southern end of the prospect.
Moores Lode represents a new ‘high-grade’ tin-antimony-silver lode in the hanging wall of the Montezuma Lode. The discovery points to potential for further mineralisation around the Montezuma fault mineral system.
The results support potential expansion of the 8.2-million-ounce silver equivalent maiden mineral resource announced earlier this year.
At this location, mineralisation appears to be transitioning from dominantly ‘high-grade’ silver-antimony to dominantly ‘high-grade’ silver-copper.
MZS43 confirms and extends the previously unrecognised silver-zinc replacement mineralisation in the Maestries Conglomerate, adjacent to the Montezuma Lode, first intersected in drill hole MZS42.
Results from MZS44 are pending and MZS45 is in progress, with further holes planned from the same drill position to test the southern extensions.
Exploration continues at the Fahlore, Silver Cliffs, and Persic prospects, which the company considers potential satellite deposits for the Montezuma operation.
Lode Resources is an Australian explorer advancing silver, antimony, and tin projects across Tasmania and the New England Fold Belt of New South Wales.
Write to JC Villarba at Mining.com.au
Images: Lode Resources
