Marquee Resources Antimony Discovery Delivers Exceptional Mt Clement Results

The Marquee Resources antimony discovery at Mt Clement has delivered exceptional results, establishing the company as a significant player in Australia's critical minerals sector. Marquee Resources Limited (ASX:MQR) has delivered exceptional results from its Phase 2 drilling programme at the Mt Clement (Eastern Hills) Antimony Project, with antimony mineralisation intersected in all seven holes reported to date. The standout intersection of 6m at 1.32% Sb, 15g/t Ag and 2.74% Pb from 230m demonstrates the project's potential to become a cornerstone antimony asset in Western Australia.

The drilling campaign has successfully confirmed all three recognised mineralised zones—Taipan, Dugite and Gwardar—with Marquee achieving its first drill intersection in the previously untested Dugite Zone, establishing a new mineralised domain within the project area.

Outstanding Drilling Results Confirm Resource Growth Potential

The first batch of assay results from 14 RC holes totalling 2,908 metres has validated the consistency and grade continuity of antimony mineralisation across multiple structures and depth levels. These results further strengthen the Marquee Resources antimony discovery and its potential for significant resource expansion. Key intersections include:

Taipan Zone Success

• MQRC396: 6m at 1.32% Sb, 15g/t Ag and 2.74% Pb from 230m
  • Including: 3m at 2.49% Sb, 29g/t Ag and 5.17% Pb from 231m

• Additional intersection: 12m at 0.59% Sb from 185m

Breakthrough in Dugite Zone

• MQRC397: First drill intersection in Dugite Zone
  • 8m at 0.58% Sb from 150m, including 2m at 1.52% Sb from 153m

• MQRC398: 5m at 0.35% Sb from 57m, including 1m at 1.42% Sb from 59m

Gwardar Zone Validation

• MQRC403: 8m at 0.58% Sb from 120m, including 2m at 1.15% Sb from 120m

Understanding Antimony: The Critical Metal Driving Strategic Value

Antimony (Sb) is a metalloid classified as a critical mineral by Australia, the United States, and Europe due to its essential applications in flame retardants, alloys, semiconductors, and military technologies. This silvery-white metal possesses unique properties that make it indispensable for various industrial applications, particularly in fire safety and electronics manufacturing.

The strategic importance of antimony stems from its highly concentrated global supply chain. Currently, China controls approximately 60% of global antimony production, with Russia contributing another significant portion. This concentration creates substantial supply security concerns for Western nations, particularly given antimony's critical role in defence applications and electronic manufacturing.

With antimony prices reaching US$48,000 per tonne, the strategic importance of secure supply chains has never been greater. Western governments increasingly recognise antimony as a critical mineral essential for national security and industrial competitiveness. This supply constraint creates significant opportunities for Western world producers to establish alternative supply sources.

Key Antimony Applications:

• Flame retardants: Essential component in textiles, plastics, and building materials
• Lead-acid batteries: Improves battery performance and longevity
• Semiconductors: Critical for certain electronic components
• Military applications: Used in ammunition, infrared detection systems, and night vision equipment
• Glass manufacturing: Provides clarifying and decolourising properties

The Marquee Resources antimony discovery, adjacent to Black Cat Syndicate's antimony deposit (described as "Australia's Largest Undeveloped Antimony Deposit"), positions the company to capitalise on this supply constraint and contribute to Western world antimony security.

Resource Growth Trajectory and Strategic Positioning

Current Resource Foundation

Marquee declared its maiden Mineral Resource Estimate (MRE) in September 2025:

• 1.14Mt at 0.6% SbEq for 6,800t SbEq contained metal
• Antimony contributing 6,000t of contained metal
• Exploration Target: 3Mt to 6Mt with grades of 0.4% to 0.8% antimony

Phase 2 Drilling Impact

The Phase 2 drilling has materially extended mineralisation beyond the maiden MRE envelope, demonstrating that the system remains robust at depth and along strike. The successful intersection of the Dugite Zone represents a potentially transformative development for resource growth.

The company's systematic drilling approach across 4,254 metres over 21 RC holes in two campaigns has established a consistent track record of mineralisation intersection. Furthermore, this drilling success rate provides confidence in the geological understanding and targeting methodology employed by Marquee's technical team.

Australia's Antimony Landscape

The table demonstrates Marquee's position within Australia's antimony development pipeline. In addition, the company actively advances exploration and resource development alongside established players in the sector.

Metallurgical Progress and Strategic Partnerships

Marquee has delivered two shipments of high-grade antimony-lead-silver ore to Yantai Jinao, who have commenced metallurgical test work. The first sample met grade and quality expectations according to the company, prompting submission of a second, higher-grade sample from Phase 2 drilling material.

This metallurgical collaboration represents a critical step toward understanding processing pathways and establishing potential downstream partnerships. The test work aims to determine optimal processing methods and recovery rates for the Mt Clement ore, which will inform future feasibility studies and project development decisions.

Upcoming Catalyst: Executives from both Marquee and Yantai Jinao are scheduled to meet in early February 2026 in China. This meeting is expected to advance upstream and downstream strategic pathways for the project, potentially establishing processing agreements or strategic partnerships.

The timing of this collaboration aligns with global antimony market dynamics. However, processing capacity and secure supply arrangements have become increasingly valuable as geopolitical tensions affect traditional supply chains.

Executive Vision: Building Western World Antimony Supply

Executive Commentary

Charles Thomas, Executive Chairman, commented: "These first Phase 2 assays are an outstanding validation of the Mt Clement (Eastern Hills) system. We have now intersected antimony mineralisation in every hole reported to date, confirmed continuation of Taipan and Gwardar, and—critically—delivered Marquee's first drill intersection into the Dugite Zone, establishing a new mineralised domain with clear scale potential."

Strategic Focus

Thomas added: "Antimony's strategic importance and the tightness of global supply underpin the Company's focus on accelerating resource growth, de-risking processing pathways and advancing Mt Clement as a credible emerging Western supply opportunity."

The executive commentary highlights management's focus on capitalising on antimony's strategic value. Consequently, they systematically advance project development through exploration and metallurgical understanding.

Immediate Catalysts and Timeline

Q1 2026 Milestones

1. Final Phase 2 assay results (mid to late January 2026)
2. Updated JORC Resource Estimate following complete assay results
3. Metallurgical test work update from Yantai Jinao partnership
4. Phase 3 drilling programme commencement

Strategic Meeting

• February 2026: Executive meeting between Marquee and Yantai Jinao in China
• Focus: Advancing upstream and downstream strategic pathways

The pipeline of catalysts provides multiple opportunities for project advancement and potential market re-rating. For instance, exploration results confirm resource growth and metallurgical pathways become clearer.

What Makes This Antimony Discovery Significant?

The significance of the Marquee Resources antimony discovery extends beyond simple mineralisation confirmation. The company has demonstrated exceptional operational consistency, with antimony intersected in every hole drilled to date across multiple geological zones.

Key Investment Strengths

1. Consistent High-Grade Results: Antimony mineralisation confirmed in 100% of holes drilled to date
2. Resource Growth Potential: Phase 2 drilling extends beyond current MRE envelope
3. Strategic Location: Adjacent to Australia's largest undeveloped antimony deposit
4. Critical Metal Exposure: Antimony's strategic importance creates compelling supply dynamics
5. Metallurgical Partnerships: Active collaboration with processing specialists

Operational Excellence

• 4,254m drilled across 21 RC holes over two campaigns
• Three confirmed mineralised zones providing multiple growth vectors
• Strong silver and lead credits enhancing project economics

The combination of exploration success, strategic metal exposure, and systematic project development positions Marquee as an emerging player in Australia's critical minerals sector.

Why Investors Should Follow Marquee Resources

Marquee Resources has positioned itself as an emerging leader in Australia's antimony sector. Furthermore, the Mt Clement (Eastern Hills) project demonstrates exceptional potential for resource growth and strategic value creation. The company's systematic approach to exploration, combined with the critical nature of antimony supply, creates a compelling investment proposition.

Tracking Reasons

• Resource Growth: Updated JORC estimate expected following Phase 2 completion
• Strategic Partnerships: Metallurgical advancement with Chinese processing specialists
• Market Position: Building presence in supply-constrained critical metal
• Exploration Success: 100% hit rate demonstrates geological understanding
• Development Timeline: Clear pathway from exploration to potential production

The convergence of consistent exploration results, strategic antimony exposure, and developing metallurgical partnerships creates multiple value drivers. However, investors monitoring the critical minerals sector should note these developing opportunities.

Key Investment Takeaway

The Marquee Resources antimony discovery has established the company as a significant player in Australia's antimony landscape, with Phase 2 drilling results confirming the scale potential of Mt Clement (Eastern Hills). With upcoming resource updates, strategic partnerships, and a clear development pathway, investors should monitor this emerging critical metals opportunity closely.

The combination of consistent high-grade results, strategic antimony exposure, and systematic resource development positions Marquee as a compelling opportunity in the critical metals sector. In addition, global supply constraints continue to support strong antimony pricing fundamentals and strategic value recognition.

Want to Learn More About Marquee Resources' Antimony Discovery?

With antimony mineralisation confirmed in every hole drilled to date and the project extending beyond the current resource envelope, Marquee Resources (ASX:MQR) is establishing itself as a significant player in Australia's critical minerals sector. The Mt Clement (Eastern Hills) project offers investors exposure to a supply-constrained critical metal with strategic importance to Western nations. To discover more about Marquee Resources' development pipeline, upcoming resource updates, and strategic partnerships in the antimony sector, visit www.marqueeresources.com.au and explore how this emerging critical metals opportunity could fit within your investment portfolio.