Lode Resources Ltd (ASX:LDR) has received promising early results from the recommencement of Phase I drilling at the 100% owned Webbs Consol Silver-Base Metal Project in NSW.
Drill Hole WCS012 has returned a very significant mineralised intercept of 12.1 m @ 312 g/t AgEq (108 g/t Ag, 5.49% Pb, 0.36% Zn, 0.10% Cu) from 48.0m including 9.4 m @ 394 g/t AgEq1 (137 g/t Ag, 7.01% Pb, 0.39% Zn, 0.12% Cu) from 49.6m.
This intercept represents shallow mineralisation below the Shaft 3 (Mt Galena) prospect and is located 220m south of Shaft 1 (Main Shaft) with previous reported intercepts of 27.5m @ 468 g/t AgEq1 (118 g/t Ag, 0.77% Pb, 6.52% Zn, 0.07% Cu) from 104.6m (WCS006) and 24.2m @ 374 g/t AgEq1 (63 g/t Ag, 0.49% Pb, 5.96% Zn, 0.04% Cu) from 122.9m (WCS007).
The Webbs Consol mineral system now extends over a 3km north-south strike.
The company believes this is highly encouraging given the number of similar targets that are yet to be tested in the current drill programme.
Down Hole Electromagnetic (DHEM) and Fixed Loop Electromagnetic (FLEM) geophysical surveys are planned for this coming month to target the most prospective mineralisation encountered in drilling to date.
The aim of this survey is to detect conductive sulphide accumulations at depth and potentially along strike prior to Phase II drilling to ensure optimal drill target definition. At this stage the Shaft 1 and Lucky Lucy North prospects will be surveyed with these geophysical techniques however it is quite possible other prospects will in included.
Webbs Consol Project Overview
Located 16km west-south-west of Emmaville, Webbs Consol was discovered in 1890 with intermittent mining up to the mid-1950s. The Webbs Consol Project (EL8933) contains several small, but high grade, silver-lead-zinc-gold deposits hosted by the Webbs Consol Leucogranite which has intruded the Late Permian Emmaville Volcanics and undifferentiated Early Permian sediments.
Several mine shafts were worked for the high-grade galena and silver content only with high-grade zinc mineralisation discarded. Mineral concentration was via basic Chilean milling techniques and sluicing. Some subsequent rough flotation of galena was carried out with no attempt to recover sphalerite.
Ore mineralogy includes galena, sphalerite, marmatite, arsenopyrite, pyrite, chalcopyrite, minor bismuth, and gold. Chief minerals are generally disseminated but also high grade “bungs” where emplacement is a combination of fracture infilling and country rock replacement.
Gangue mineralogy includes quartz, chlorite and sericite with quartz occurring as veins and granular relicts. Historical sampling shows potential for high grade silver and zinc mineralisation at Webbs Consol. It was reported that 12 samples taken from the lowest level of the main Webbs Consol shaft (“205’ Level” or 60m depth) averaged 210g/t silver, 22.6% zinc and 2.74% lead.
Epithermal style mineralisation occurs in ‘en échelon’ vertical pipe like bodies at the intersection of main north-south shear and secondary northeast-southwest fractures. No leaching or secondary enrichment has been identified.