Lode Resources Ltd (ASX:LDR), a leading mining company, is thrilled to announce significant exploration updates for its 100% owned Webbs Consol Silver-Base Metals Project located in the New England Fold Belt in north-eastern New South Wales.
- Drilling Results: Two new drill holes, WCS064 and WCS065, have intersected 26.2m and 33.1m of sulphide mineralisation respectively, testing the lateral extent of the Tangoa West Lode.
- Mineral Composition: WCS064 contains an estimated 20% sphalerite ((Zn,Fe)S) and 3% galena (PbS), while WCS065 contains 15% sphalerite and 2% galena. Significant silver mineralisation is anticipated in both holes.
- Tangoa West Lode Extension: The lode extends to a vertical depth of 280m and remains open, plunging vertical to 100m and then 65°-70° north below 100m to at least 300m vertical depth.
- Geochemical Testing: Multiple new targets defined by a recent completed Loupe TEM (Time Domain Electromagnetic) survey are undergoing extensive geochemical testing.
The drilling at the Webbs Consol Silver Project has revealed promising sulphide textures ranging from coarse disseminated blebs to semi-massive veins of sphalerite with significant silver grades expected. The exploration strategy, including the drilling of WCS064 and WCS065, will be applied to other lodes in future drilling.
The estimated true intercepts width of WCS064 and WCS065 are 15.8m and 11.9m respectively. All mineralised core has been cut, sampled, and transported to ALS in Brisbane for assaying.
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.