- Lode Resources (LDR) intersects shallow, high-grade copper and zinc at the historic Trough Gully mine within its Fender copper project located 30 kilometres south-east of Tamworth, New South Wales
- Phase-one drilling returned significant copper and zinc assays plus consistent gold and silver credits at Trough Gully, including one intercept 30 metres below old workings.
- A representative section of mineralisation from drill core has been submitted for metallurgical tests
- Lode says it plans to carry out a down-hole electromagnetic (DHEM) survey at Trough Gully to test for extensions at depth and along strike prior to a planned phase-two drilling program
- LDR shares down 13.6 per cent to 19 cents
Lode Resources (LDR) has intersected shallow, high-grade copper and zinc mineralisation at the historic Trough Gully mine, which forms part of its Fender copper project located 30 kilometres south-east of Tamworth in New South Wales.
The company said its phase-one round of drilling at Trough Gully returned significant copper and zinc assays plus consistent gold and silver credits, including one intercept 30 metres below old workings.
Better drill results included 7.3 metres grading 1.37 per cent copper, 4.93 per cent zinc, 0.36 grams per tonne (g/t) gold and 10.1 g/t silver from 92.1 metres and 6.9 metres at 1.3 per cent copper, 4.49 per cent zinc, 0.5 g/t gold and 17.4 g/t silver from 50.9 metres.
The latter contained a higher-grade one-metre interval grading 3.05 per cent copper, 12.25 per cent zinc, 1.15 g/t gold and 43.2 g/t silver from 51.5 metres.
Lode Managing Director Ted Leschke said intersecting “such significant” copper and zinc mineralisation at shallow depths in a first-pass drill program was highly encouraging.
“Our Fender copper project contains numerous copper occurrences and copper drainage anomalism over large areas, none of which has been previously subjected to a modern drill program,” he said.
A representative section of mineralisation from drill core has been submitted for metallurgical test work.
Lode said it plans to carry out a follow-up down-hole electromagnetic (DHEM) survey at Trough Gully in the current quarter to test for extensions at depth and along strike, prior to a planned phase-two drilling program.
LDR shares were trading 13.6 per cent lower at 19 cents at 3:05 pm AEDT.