- New drill results have reaffirmed the presence of disseminated gold mineralisation at Lode Resources’ (LDR) Hudson’s prospect in NSW
- Previous mapping and sampling uncovered gold mineralisation at the prospect and a 12-hole drilling program followed this up by testing three gold targets
- Lode Resources says the results have exceeded its expectations and reaffirm the disseminated gold mineralisation with bulk tonnage potential
- The company also believes the results support the broader Uralla goldfield being a large intrusive-related gold system (IRGS) and drilling is ongoing to unlock further potential
- Company shares have closed Monday’s session 5.56 per cent
Lode Resources (LDR) has reaffirmed the presence of disseminated gold mineralisation at the Hudson’s prospect which is part of the Uralla gold project in New South Wales.
In 2021, the company completed mapping and sampling which uncovered gold mineralisation hosted by a sedimentary rock unit.
Follow-up work confirmed the mineralisation can be classified as ‘disseminated’ as it’s hosted within a predominantly siltstone sedimentary rock with a moderate amount of fine quartz stockwork veining and disseminated sulphides together with hydrothermal alteration.
Lode Resources then drill tested three targets within the Hudson’s prospect that were generated from the gold mineralisation with a total of 12 reverse circulation (RC) holes drilled.
Assays have been received for 11 of the 12 holes which have each intersected gold mineralisation at a shallow depth. Several holes intersected strong gold mineralisation over ‘substantial’ widths.
Results include 15 metres at 2.09 grams of gold per tonne (g/t) from 12 metres including seven metres at 3.65 g/t gold from 15 metres, and 10 metres at 1.32 g/t gold from 68 metres including five metres at 2.49 g/t gold from nine metres.
Importantly the results further reaffirm the discovery of disseminated gold mineralisation with bulk tonnage potential. The company said they also support the Uralla goldfield being a large intrusive-related gold system (IRGS).
“Intercepting such wide zones of gold mineralisation at shallow depths in first pass drilling has substantially exceeded our expectation and this bodes well for on-going drilling at our Uralla Gold Project,” Managing Director Ted Leschke said.
“IRGS deposits occur in specific tectonic belts around the world and are well known for. their often large gold endowment,” he added.
Lode Resources is continuing drilling with a diamond program currently testing multiple targets throughout the Uralla gold project.
Company shares closed Monday’s session 5.56 per cent in the red at 17 cents.