Phase 2 Drilling Confirms Consistent Antimony Grades Across Mt Clement

Retraction and Clarification

Marquee Resources Limited (ASX, MQR) has issued a retraction of certain peer comparison data from its January 7 announcement, citing non-compliance with ASX guidelines. The company also clarified that its maiden Mineral Resource Estimate (MRE) at Mt Clement is classified entirely as Inferred, underscoring the early-stage nature of the project’s resource definition.

Strong Phase 2 Drilling Results

Despite the retraction, Marquee delivered encouraging news with assay results from the first seven of fourteen Phase 2 reverse circulation drill holes at the Mt Clement (Eastern Hills) Antimony Project. The drilling program, totaling 2,908 metres, confirmed antimony mineralisation in every hole reported to date, demonstrating the continuity and robustness of the deposit across multiple mineralised zones.

Notably, the drilling established the Dugite Zone as a new mineralised domain within the project area, alongside the previously recognised Taipan and Gwardar zones. Highlights include intercepts such as 6 metres at 1.32% antimony with significant silver and lead credits, and 8 metres at 0.58% antimony in the Gwardar zone. These results suggest potential for meaningful resource growth beyond the existing maiden MRE envelope.

Strategic Metallurgical Testing and Partnerships

Marquee has shipped two batches of high-grade antimony-lead-silver ore to Yantai Jinao in China, which has commenced metallurgical test work. The second shipment, representing higher-grade material from Phase 2 drilling, aims to simulate potential production scenarios. An executive meeting scheduled for early February is expected to advance strategic discussions, highlighting the project’s importance as a potential Western supply source of critical antimony.

Project Context and Outlook

The Mt Clement Project is strategically located adjacent to Black Cat Syndicate’s large antimony deposit, positioning Marquee to become a significant player in the antimony market. With antimony recognised as a critical mineral globally, and supply concentrated in China and Russia, Marquee’s progress at Mt Clement could help diversify supply chains.

Looking ahead, the company anticipates receiving the final batch of Phase 2 assays in January, followed by an updated JORC Mineral Resource Estimate. Plans for a Phase 3 drilling campaign are underway for the first quarter of 2026, aiming to target the most promising extensions identified so far.