Lode Resources (ASX:LDR) - MD, Ted Leschke & Chair, Andrew Van Heyst & Non Executive Director, Jason Beckton
MD, Ted Leschke & Chair, Andrew Van Heyst & Non Executive Director, Jason Beckton
Source: Lode Resources/Twitter
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  • Lode Resources (LDR) encounters “significant” silver and base metal mineralisation at its Webbs Consol silver-base metal project in NSW
  • Results come from hole WCS012 that intersected up to 305g/t silver, 13.92g/t lead, 0.65 per cent zinc and 0.65 per cent copper
  • The mineral system at Webbs Consol now extends over a strike of three kilometres which is highly encouraging given multiple targets are yet to be tested
  • Geophysical surveys are planned for June to target the most prospective mineralisation identified to date
  • Lode ends the day in the grey with shares trading 17 cents

Lode Resources (LDR) has encountered “significant” silver and base metal mineralisation at its Webbs Consol silver-base metal project in NSW.

Results come from hole WCS012 which was drilled following the recommencement of phase one drilling that tested multiple targets.

Results include 12.1 metres at 312 grams per tonne (g/t) silver equivalent (108g/t silver, 5.49 per cent lead, 0.36 per cent zinc and 0.1 per cent copper) from 48 metres including one metre at 821g/t silver equivalent (305g/t silver, 13.92g/t lead, 0.65 per cent zinc and 0.65 per cent copper) from 56.6 metres.

These build on previous results from phase one including 27.5 metres at 468g/t silver equivalent from hole WCS006 and 24.15 metres at 374g/t silver equivalent from hole WCS007.

The mineral system at Webbs Consol now extends over a strike of three kilometres which is highly encouraging given multiple targets are yet to be tested.

Additionally, multiple targets were identified via phase one drilling results, sampling, mapping and a historical literature review.

Around 67 historical workings and mineral occurrences are currently being drilled with results due in due course.

Particular interest is at a highly prospective target called Tangoa West where grab surface samples returned up to 745g/t silver, 16.05 per cent lead, 14 per cent zinc and 0.5g/t gold.

Grab sampling is not considered representative of the grade of the mineralised occurrence and drilling is currently underway.

Further, downhole electromagnetic (DHEM) and fixed loop electromagnetic (FLEM) geophysical surveys are planned for June to target the most prospective mineralisation identified to date.

The aim of the surveys is to mark conductive sulphide groups both at depth and along strike prior to phase two drilling.

Lode has ended the day in the grey with shares trading 17 cents.

LDR by the numbers
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