Lode Resources Ltd (ASX:LDR) ("Lode" or the "Company") is excited to announce significant progress in the exploration of its 100% owned Webbs Consol Silver-Base Metals Project ("Webbs Consol") located in the New England Fold Belt in north-eastern New South Wales. The Company's extensive multi-discipline geophysical surveys have uncovered multiple new targets, complementing the high-grade silver-base metal lodes discovered through drilling.
The recent Loupe TEM (Time Domain Electromagnetic) survey, conducted on a tight 20m line spacing, has provided valuable insights into the project area. Loupe is a ground-based electromagnetic system known for its ability to generate high-quality, high-resolution data near the surface. The survey has successfully identified multiple conductive anomalies, potentially indicative of metal-bearing sulphides. Notably, many of these anomalies are located in areas with no historical mining and significant cover.
These new targets, exhibiting stronger geophysical signatures than the previously discovered Tangoa West, have been prioritized for further investigation. The Company is currently carrying out geochemical testing and drill planning to assess the potential of these targets accurately.
One of the newly defined geophysical targets, labeled Loupe #1 TEM Anomaly, has shown promising results and is ready for drilling. Within a 300m x 100m area, both soil sampling and rock chip sampling have revealed elevated metal values. Soil sampling has returned assay values up to 5.02g/t Ag, 1,780ppm Pb, and 400ppm Zn, while rock chip sampling has shown values up to 252g/t Ag, 2.30% Pb, and 0.31% Zn. It is important to note that grab sampling is a selective technique, and the reported grades may not necessarily reflect the underlying mineralized occurrence due to surface mineralization depletion or enrichment caused by chemical weathering processes.
The anomalous zinc values obtained from the soil and rock chip samples are particularly significant, as zinc is typically depleted at the surface due to its high mobility during chemical weathering. This discovery further emphasizes the potential for additional high-grade silver-base metal deposits within the project area.
Commenting on these developments, Ted Leschke, Managing Director of Lode Resources Ltd, expressed his enthusiasm, stating, "We are very excited about the completion of geophysics over this segment of Webbs Consol. These surveys have revealed a larger mineralized system than previously anticipated, with anomalies below cover indicating a bigger footprint than Tango West. Our current focus is on completing the ongoing deep drilling at Tangoa West and subsequently testing the most promising targets."
Lode Resources Ltd continues to demonstrate its commitment to advancing the exploration and understanding of the Webbs Consol Silver-Base Metals Project. With the identification of multiple new targets through geophysics and initial geochemistry, the Company is poised to unlock the project's full potential. Further updates on the progress of drilling and exploration activities will be provided in due course.
About us:
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
Contact details:
Katrina Griffiths