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Lode Resources (ASX:LDR) has jumped along with the materials sector on Tuesday after reporting silver equivalent grades above 1,000g/t AgEq from its Tasmania-based Montezuma project.
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Another result was framed as reflecting a concentration of 5.5% stibnite equivalent (SbEq); stibnite is typically where one finds antimony.
With silver on the way back up after the Venezuela boogaloo, value calculus behind investor enthusiasm is clear. However, most of the results highlighted Tuesday were below the headline 1,948g/t AgEq.
Take a look at the tabled results from Lode below:
So, perhaps less exciting grades for Lode here (a real fun-suck could perhaps argue that reeling investors in with an announcement hinting at grades near 2,000g/t AgEq based on one result is unwise.)
Probably the biggest thing to note is the drill intercept lengths are fractional (or marginal, if you prefer), and the company also shied away from clearly displaying depths.
Per Lode, some intercepts came in at an upper ceiling of 10 metres. Still, investors on Tuesday weren’t too bothered; that’s perhaps got to do with the wider silver FOMO as much as good-old-Australian-exploration dynamics.
“Once again, drilling has returned impressive results which are expanding … [the deposit] at Montezuma,” LDR MD Ted Leschke said.
The company reported on Tuesday that while silver and antimony dominate the mineralisation at Montezuma, geotech teams have also discovered reportedly-significant “gold, copper and tin” values.
LDR last traded at 23.5cps.
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