Lode Resources (ASX:LDR) – HIGH-GRADE MINERALISATION EXTENDED TO 280 METRES VERTICAL DEPTH AT WEBBS CONSOL SILVER PROJECT

• High-Grade Mineralisation has now been intercepted from surface down to a vertical depth of at least 280m in drilling to date at the Webbs Consol Silver-Base Metals Project’s Tangoa West Lode and remains open ended.
• Drill hole WCS052 has returned a composite intercept of 221.2m @ 569 g/t AgEq1 from 98m including two high-grade zones as follows:
  • 149.2m @ 627 g/t AgEq1 from 98.0m including;
    • 14.0m @ 933 g/t AgEq1 from 101.0m including;
    • 4.6m @ 1,494 g/t AgEq1 from 107.4m and;
    • 4.4m @ 1,520 g/t AgEq1 from 169.3m and;
    • 7.9m @ 2,519 g/t AgEq1 from 202.2m and;
    • 14.2m @ 927 g/t AgEq1 from 213.7m including;
    • 7.9m @ 1,228 g/t AgEq1 from 219.1m
  • 40.2m @ 804 g/t AgEq1 from 279.0m including;
    • 18.6m @ 1,131 g/t AgEq1 from 299.4m including;
    • 5.0m @ 1,611 g/t AgEq1 from 308.0m
• Contained within these two intercepts are multiple very high-grade zones which constitute a cumulative 59.2m @ 1,249 g/t AgEq1 .
• Drill hole WCS052 is the deepest hole yet at the Webbs Consol Silver-Base Metals Project. Drilling to date has now shown high-grade mineralisation extends from surface to at least 280m vertical depth and remains open. This demonstrates the serious mineral endowment of the Tangoa West lode and has strong implications for the entire Webbs Consol’s silver base metals system.
• Drill hole WCS052’s two high intercept zones may represent two separate high-grade lodes or, alternatively, a single high-grade lode with a wavering longitudinal boundary or an internal highly altered pendant. Either way, the Tangoa West lode remains open at depth.
• Follow-up drill holes are planned to further delineate the high-grade Tangoa West Lode at depth. Current drill programme at Webbs Consol Project comprises some 26 holes totaling approximately 5,000m. The programme is testing the Tangoa West lode, depth testing other lodes discovered by earlier drilling and testing several new targets. Ultimately Lode plans to drill down to a depth of 450m for the most highly endowed lodes.

Managing Director, Ted Leschke, commented: “WCS052 is a very exciting drill hole as it demonstrates that the Webbs Consol silver-base metals system host mineralised lodes of considerable size in addition to the high-grade nature of mineralisation as demonstrated in multiple drill hole intercepts to date. These two characteristics are the hallmarks of a well-endowed mineral system”.

Lode Resources is an ASX-listed explorer focused on the highly prospective but under-explored New England Fold Belt in north-eastern NSW. The Company has assembled a portfolio of brownfield precious and base metal assets.

Katrina Griffiths

katrina@janemorganmanagement.com.au