Lode Resources Hits New Tin and Copper Lode at Montezuma Adding Scale to Silver Project
Key Takeaways
- Drill hole MZS43 intercepted a brand-new lode — Moores Lode — 60m in the hanging wall of the Montezuma resource, returning 0.5m at 7.3% Sn, 6.8% Cu, and 863 g/t Ag, the highest tin and copper grades recorded at Montezuma to date.
- A single drill hole intersected four distinct mineralised zones, including a 15.4m Maestries replacement lode interval containing two massive sphalerite-galena lenses of 0.7m and 5.7m — with assays for three of the four intercepts still pending.
- Tin and copper now join silver, antimony, lead, and zinc as confirmed commodities at Montezuma, with direct implications for resource scale and project economics beyond the existing 8.2 Moz AgEq maiden resource.
- Follow-up hole MZS44 is already drilling directly below MZS43 to test the Moores Lode discovery at depth, with pending assay results from MZS43 expected approximately one month from the 19 August 2026 laboratory submission date.
- Montezuma remains Tasmania's only antimony project and sits within the same West Coast Mining Province as Renison Bell, one of Australia's major tin operations, validating the tin-prospective geology now confirmed at Moores Lode.
New high-grade lode discovery expands Montezuma into tin and copper
Lode Resources has identified a brand-new mineralised lode at its Montezuma Silver & Antimony Project in Tasmania, adding tin and copper to an existing silver-antimony-lead-zinc system and signalling the deposit is materially larger than currently modelled.
The newly named Moores Lode was intercepted in drill hole MZS43, the first hole drilled from the hanging wall (eastern) side of the Montezuma resource. Located 60m in the hanging wall of the Montezuma Lode, the discovery returned a best intercept of 0.5m @ 7.3% Sn, 6.8% Cu, 863 g/t Ag, 1.8 g/t Au, 2.1% Sb and 4.0% Pb. A broader 1.0m composite interval averaged 3.7% Sn, 3.4% Cu, 437 g/t Ag, 1.2 g/t Au, 1.2% Sb and 2.4% Pb.
These results introduce a fourth commodity suite to Montezuma. Where the project previously centred on silver, antimony, lead, and zinc, tin and copper now emerge as additional high-grade components with direct implications for resource scale and project economics.
Managing Director Keith Mayes
“The first assays from this highly mineralised lode have provided us with Montezuma’s highest tin and copper grades to date. Together with extensions to the Montezuma Lode and the two replacement lodes, this drilling further demonstrates the substantial mineral endowment of the Montezuma project. We have now identified multiple new zones of mineralisation since the initial resource estimate and these have the potential to materially enhance size and overall project economics…”
When big ASX news breaks, our subscribers know first
MZS43 reveals four mineralised lodes in a single hole
What the drill hole intercepted
MZS43 was designed to test the southern extension of the Montezuma Silver-Antimony Lode and the Maestries replacement mineralisation. In practice, it delivered far more, intersecting four distinct mineralised zones in one hole.
- Moores Lode (Sn-Cu-Ag-Sb-Au-Pb) — new hanging wall lode at 133.5–134.5m; assays received (detailed in table below)
- Montezuma Lode first intercept — 1.1m of Cu-Ag sulphides at 220.4–221.5m; assays pending
- Montezuma Lode second intercept — 0.8m of Ag sulphides at 237.3–238.1m; assays pending
- Maestries replacement lode (Zn-Pb-Ag) — 2.2m at 370.5–372.7m AND 15.4m at 411.8–427.2m; assays pending
The 15.4m Maestries intercept is particularly notable. Within that broad mineralised envelope sit two massive sphalerite-galena lodes measuring 0.7m and 5.7m downhole, which signals the potential for high-grade zones embedded within the wider interval. Three of the four intercepts still await assay results, creating a meaningful near-term news flow pipeline for investors.
Drill results table — Moores Lode intercept (MZS43)
| From (m) | To (m) | Length (m) | Ag (g/t) | Sn (%) | Cu (%) | Sb (%) | Au (g/t) | Pb (%) |
|---|---|---|---|---|---|---|---|---|
| 133.5 | 134.0 | 0.5 | 863 | 7.3 | 6.8 | 2.1 | 1.77 | 4.0 |
| 133.5 | 134.5 | 1.0 | 437 | 3.7 | 3.4 | 1.2 | 1.24 | 2.4 |
Understanding Montezuma’s polymetallic system — why multiple commodities matter
Montezuma is hosted within fissure veins along the north-south trending Montezuma Fault. A fissure lode is a mineralised crack or fracture in host rock that has been infilled by metal-bearing fluids over geological time. When a structurally analogous lode appears in the hanging wall (the rock mass above the fault), it suggests the same mineralising process repeated itself in a parallel position. That is significant because it implies the grade profile of the main lode can potentially be replicated elsewhere in the same system.
The Maestries replacement-style mineralisation is a geometrically different deposit type. Rather than a narrow vein, replacement mineralisation forms where metal-bearing fluids chemically replace favourable host rock (in this case, dolomitic conglomerates) across broader widths. This style of deposit can be larger in scale than fissure lodes, which is why the pending Maestries assays are closely watched.
Antimony is classified as a critical mineral by both the Australian Federal Government and the Tasmanian State Government. Montezuma is Tasmania’s only antimony project, and one of very few advanced antimony development assets in the western world outside China’s supply chain. China announced a ban on antimony exports to the United States in December 2024, though in November 2025 China agreed to suspend its export controls on critical minerals, including antimony, following a trade deal with the United States. This partial suspension does not change China’s dominant position in the global antimony market.
On tin, Montezuma sits within Tasmania’s West Coast Mining Province alongside Renison Bell, one of Australia’s major tin operations (owned by Metals X Ltd and Yunnan Tin Group Company Limited). That geographic context validates the tin-prospective geology of the region and provides important precedent for the commodity now appearing at Moores Lode.
The high-grade tin discovery at Montezuma was the precursor result that first flagged the tin-prospective nature of the system, providing the analytical baseline against which the Moores Lode intercepts can now be directly compared.
The next major ASX story will hit our subscribers first
Growth thesis reinforced — what comes next for LDR
Drilling programme underway
Several near-term catalysts are already in motion for investors to monitor.
- MZS44 is already drilling, designed to test directly below MZS43 and follow up on the Moores Lode discovery
- Assay results for the three remaining MZS43 intercepts are anticipated approximately one month from the 19 August 2026 laboratory submission date
- Current holes are testing the Maestries base metal system further west
- Additional holes are extending Montezuma’s Ag-Sb mineralisation along strike
Regional pipeline — satellite prospects in focus
Beyond the main Montezuma deposit, Lode Resources is advancing regional exploration at the Fahlore, Silver Cliffs, and Persic prospects, which the company views as potential satellite deposits to Montezuma. These remain prospects at this stage, not defined resources.
The baseline from which all growth is measured is the maiden 8.2 Moz AgEq resource (announced 14 April 2026), grading 533 g/t AgEq from 480kt at a 200 g/t AgEq cut-off. That resource was established across a system open in all directions, extending over 250m strike length and 200m down dip.
With MZS43 now demonstrating that the system hosts multiple structurally distinct lodes across a wider footprint than previously mapped, management has stated the company is “increasingly confident of growing” that resource base.
For investors exploring how Lode Resources is building resource scale across its broader asset base, our dedicated guide to Lode Resources’ high-grade silver resource expansion covers the Webbs Consol discovery and what it adds to the company’s overall silver endowment alongside Montezuma.
Don’t Miss the Next ASX Mining Breakout
Big News Blast delivers FREE breaking ASX mining alerts directly to your inbox within minutes of release, with in-depth analysis already done. Over 30,000 subscribers are already ahead of the market on discoveries like this. Click the “Free Alerts” button at Discovery Alert to make sure the next high-grade intercept lands in your inbox the moment it hits the ASX.