Lode targets more high-grade silver at Webbs Consol North

Drilling under way to test for extensions at discovered lodes and follow up on surface occurrences

Pic via Getty Images

• Lode Resources has started follow-up drilling at the Webbs Consol Silver Project, with the initial hole under way at the highly prospective Webbs Consol North discovery

• Previous intercepts from the prospect have included 13m at 193g/t silver equivalent from only 10m

• It’s the first hole in a 2200m, 17-hole program expected to take approximately six weeks

Special Report: Lode Resources has revved up the rigs at its highly prospective Webbs Consol project to follow-up on close to surface bonanza grade intercepts discovered during a drill campaign earlier this year.

The initial hole underway is targeting Webbs Consol North, which has yielded 13m at a very high-grade 193g/t of silver equivalent from only 10m and 21m at 122g/t silver equivalent from just 2m, including high-grade zones of 779g/t AgEq over 3m.

It’s the first hole being punched in a 2200m, 17-hole program expected to take about six weeks. Lode Resources’ (ASX:LDR) key priorities are to test for extensions at discovered lodes with multiple high-grade silver intercepts and to drill untested surface silver occurrences.

Another key discovery to be tested is Castlereagh where previous intercepts have included 50m at 224g/t AgEq from 17m and 47.4m at 112g/t AgEq from 66.5m, including high-grade zones such as 801g/t AgEq over 4.1m and 720g/t AgEq over 2m.

Additionally, untested surface silver occurrences will be drilled including the Canoon prospect, where results have included grab samples of up to 126g/t of silver.

Lode’s executive director – resource development Jason Beckton said: “We last drilled our silver targets at Webbs Consol with an RC program in February and made the high-grade silver discovery at Webbs Consol North, thereby expanding the portfolio of mineralised lodes at the Project to a strike length of approximately 3.5km.

“With shallow intercept grades approaching 800g/t silver equivalent we have been very keen to get back on the ground at Webbs Consol North, and at other promising targets, including Canoon in particular, with a follow-up drill program.

“We are obviously pleased to have the drill rig turning now and will report material results as they become available.”

High-ho silver

Until now most of Lode’s extension drilling has been at Tangoa West, at the southern end of the Webbs Consol Project, where 12 drill holes intercepted exceptionally high-grade silver mineralisation to a vertical depth of 300m.

Lode’s focused exploration efforts coincide with a looming global silver deficit which is driven by soaring industrial demand, its rising use in solar panels making silver the unsung hero of the clean energy sector.

Lode is also planning more drilling at its Uralla Gold Project to deepen its understanding of the project's intrusive related gold system potential.

The junior has established a substantial 1700km2 landholding in the as yet under-explored New England Fold Belt, where mining heavyweights Fortescue (ASX:FMG) and Newmont Corporation (ASX:NEM) have followed to become neighbours.

Additionally, Webbs Consol is just 10km southwest of the Webbs silver project where Lode holds a 2% net smelter royalty and has the right of first refusal on a project containing a significant undeveloped JORC mineral resource estimate of 2.2Mt at 205g/t AqEq, translating to a contained 14.2 Moz AgEq.

The location of main lodes, significant drill hole intercepts to date at Lode’s Webbs Consol Silver Project and grab samples at the Canoon prospect.

This article was developed in collaboration with Lode Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Lode targets more high-grade silver at Webbs Consol North