Marquee Resources Discovers Significant Antimony Structures at Mt Clement
MARQUEE RESOURCES LIMITED (MQR) Share Update December 2024 Tuesday 3rd
Marquee Resources Unveils Promising Antimony Discoveries at Mt Clement
Marquee Resources Limited (ASX:MQR) has announced the discovery of multiple antimony-bearing structures at its Mt Clement Project in Western Australia, marking a significant step in their exploration efforts.
Instant Summary:
- Fieldwork commenced at Mt Clement Project, targeting antimony mineralization.
- Geological mapping and rock chip sampling reveal multiple prospective structures.
- Historical drilling shows 220m of known mineralization within Marquee's tenement.
- Potential for further antimony zones due to limited regional exploration.
- Upcoming drill planning with Heritage Surveys set for Q1-2025.
Exploration Overview
Marquee Resources has begun fieldwork at the Mt Clement Project, strategically located along the strike from Black Cat Syndicate's Eastern Hills Antimony-Lead Deposit. The company has focused its efforts on geological mapping and rock chip sampling along the Taipan structural trend, resulting in the identification of several promising structures.
Initial results from 17 rock chip samples have been received, with notable findings including 9400ppm Sb and 7070ppm Pb. These results suggest significant potential for antimony mineralization, complementing historical drilling data that revealed approximately 220 meters of known mineralization within Marquee's tenement.
Historical Context and Future Plans
The Mt Clement polymetallic deposit is recognized for its economic quantities of antimony, lead, silver, gold, and copper. It is the fourth largest and third highest-grade antimony deposit in Australia, remaining open in all directions. Marquee's exploration efforts are aimed at expanding the known mineralization and uncovering new zones.
Marquee is advancing its drill planning, with Heritage Surveys scheduled for completion in the first quarter of 2025. The planned drilling campaign will cover up to 5,000 meters of RC drilling, targeting extensions of known mineralization and testing new prospective zones identified through recent fieldwork.
Geological Insights
The exploration program has highlighted the potential to identify extensions to the Taipan, Dugite, and Gwarder antimony and lead ore zones within Marquee's tenement. The systematic soil sampling program, comprising approximately 1,155 samples, provides comprehensive regional data coverage, further supporting exploration efforts.
Marquee's Executive Chairman, Mr. Charles Thomas, expressed optimism about the project's potential, citing the scarcity of global antimony deposits and the strong market demand as key drivers for the company's exploration strategy.
The discovery of multiple antimony-bearing structures at Mt Clement is a positive development for Marquee Resources. Given the scarcity of antimony deposits globally, this announcement is likely to attract investor interest and potentially bolster the company's stock price. The planned drilling program in 2025 will be crucial in determining the extent of the mineralization and its economic viability.
Investor Reaction:
Analysts are likely to view this announcement favorably, as it underscores Marquee's strategic positioning in a market with high demand for critical minerals like antimony. The upcoming drill results will be closely watched to assess the project's potential impact on the company's valuation.
Conclusion:
Investors should keep an eye on Marquee Resources' continued exploration efforts at Mt Clement, as further discoveries could significantly enhance the project's value. The anticipated drilling campaign in 2025 will be a key milestone in unlocking the full potential of the site.