- Lode Resources (LDR) share price soared after the company revealed it’s intersected significant sulphides at the Webbs Consol Silver project in NSW
- The maiden drilling program is testing high grade silver mineralisation sampled at surface and extensions of mineralisation mapped in underground workings
- While assays are pending, LDR has reported observing sulphide zones in all six holes completed to date within the program
- Due to the mineralisation styles noted, the company expects to see zinc, lead and copper mineralisation with associated silver in the drill core
- Shares jumped 123 per cent to trade at 33.5 cents during mid-afternoon trade
Lode Resources (LDR) share price has doubled following completion of the first six holes of its maiden drilling program at the Webbs Consol Silver project in New South Wales.
The company is focused on exploring the New England Fold Belt of NSW and began the 1,500 metre diamond drilling program at the historic Webbs project last month.
The program is testing high grade silver mineralisation sampled at surface and extensions of mineralisation mapped in underground workings.
Six drill holes have been completed with the company observing sulphide zones in all six. Assays are expect within the next four weeks.
The mineralisation styles encountered reportedly range from coarse sulphide blebs to massive irregular sulphide veins.
One particular drill hole intersected 27.5 metres containing an estimated 15 per cent sphalerite, one per cent galena and half a per cent chalcopyrite.
As silver is known to be strongly associated with both sphalerite and galena at the project area, the company expects significant zinc, lead and copper mineralisation to be shown in drill core with associated silver mineralisation.
Drilling is ongoing to test down dip extensions and additional targets.
Meanwhile, company shares soared 123 per cent to trade at 33.5 cents each at 1:36 pm AEDT.