Lode Resources (ASX:LDR) has announced the discovery of ‘high-grade’ antimony and gold mineralisation at Rock Abbey, located 7km southwest of the historic Magwood Antimony Mine in New South Wales.
Grab samples assayed by Lode have returned significant antimony grades, including 37.7%, 28.9%, 31.5%, 23.1%, 28.3%, and 19.5%.
Two samples also returned gold values at 0.54 grams per tonne gold and 0.24g/t gold, which the company notes may indicate that Rock Abbey may be analogous to Hillgrove.
Results suggest that mineralisation extends over a 750m strike length, with further sampling covering 1,700m. Rock Abbey has never been drilled, and its shallow historic workings make it suitable for rapid drill targeting.
Following these developments, Lode is in the initial stages of planning for an inaugural 10-15 hole drill program at Rock Abbey, to commence immediately following the completion of drilling at the Uralla Gold Project.
Managing Director Keith Mayes says that the antimony and gold mineralisation discovery is a testament to the prospectivity of the project’s region, covering an area of 1,100km2.
“Like Magwood, the geology of Rock Abbey draws strong geological analogies with the Hillgrove antimony mine located a short distance to the south,” Mayes says.
“With very high antimony and consistent gold values at surface we look forward to drilling this exciting new critical mineral target with drilling planned immediately post drilling at the Uralla Gold Project”
Lode’s antimony exploration work is aligned with the Government of New South Wales’ Critical Minerals and High-Tech Metals Strategy 2024-2035.
The company is also undergoing drilling at the Montezuma Silver-Antimony Project in Tasmania’s West Coast Mining Province. Samples from drill holes at Montezuma are currently being assayed.
Lode Resources is an Australian exploration company with critical minerals projects in Tasmania and New South Wales.
Write to Amy Rotman at Mining.com.au
Images: Lode Resources
