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- Lode Resources (LDR) has begun drilling at the Webbs Consol silver-base metals project in New South Wales
- The 1100-metre drilling program will focus on multiple high-priority targets along strike from the Webbs Consol main shaft
- Majority of the holes were generated through recent drilling which returned silver grading up to 468 and 801 g/t
- However, one of the targets was only recently discovered and lies two kilometres south of the main shaft and contains galena, sphalerite and chalcopyrite mineralisation
- Lode shares have ended the day 6.25 per cent in the red to close at 15 cents
Lode Resources (LDR) has begun drilling at the Webbs Consol silver-base metals project to test 11 out of 67 recently identified historical workings and mineral occurrences.
The 67 targets were generated through a mix of mapping, sampling, a historical review and phase one drilling which intersected broad and high-grade silver, lead and zinc mineralisation.
Of these, Lode will drill 11 high-priority holes, totalling 1100 metres, to test multiple high-priority targets along strike of the Webbs Consol main shaft.
Among the planned holes is a new drill target which lies two kilometres south of the Webbs Consol main shaft and contains galena, sphalerite and chalcopyrite mineralisation.
Prior to this drilling, the company undertook a phase one program late last year which returned 27.5 metres at 468 g/t silver equivalent, including 4.4 metres at 801 g/t silver equivalent.
According to the company, surface grab samples graded up to 745 g/t silver, 16.05 per cent lead, 14 per cent zinc and 0.5 g/t gold.
Following the drilling program, Lode Resources will conduct downhole electromagnetic and fixed loop electromagnetic geophysical surveys to target the most prospective drill holes.
Lode shares ended the day 6.25 per cent in the red to close at 15 cents.