- Shares in Lode Resources (LDR) have soared after the company said it had intersected up to 1126 grams per tonne (g/t) silver equivalent from the Tangoa West prospect in NSW
- The new results continue to highlight the prospectivity of the area with up to 376 g/t silver, 19.62 per cent lead, 1.54 per cent zinc and 0.82 per cent copper intersected
- The results demonstrate how underexplored the area is and highlight the potential for further discoveries
- Downhole electromagnetic and fixed loop electromagnetic geophysical surveys are now underway to target the most prospective mineralisation encountered to date
- Shares in Lode Resources were up 73.33 per cent to $0.26 as of 11:52 am AEST
Shares in Lode Resources (LDR) have soared after the company said it had intersected up to 1126 grams per tonne (g/t) silver equivalent from the Tangoa West prospect in NSW.
Tangoa West lies within the Webbs Consol silver-base metals project, and the new results continue to highlight the prospectivity of the area.
Results came from hole WCS019 and include 6.2 metres at 587 g/t silver equivalent (171 g/t silver, 10.04 per cent lead, 1.09 per cent zinc and 0.42 per cent copper) from 50 metres, including 2.9 metres at 1126 g/t silver equivalent (344 g/t silver, 19.62 per cent lead, 1.54 per cent zinc and 0.82 per cent copper) from 53.3 metres.
The results demonstrate how underexplored the Webbs Consol project is and highlight the potential for further discoveries.
The mineral system at the project now spans a strike of over three kilometres.
Once this phase one program wraps up, deeper phase two drilling will be undertaken.
“We are very excited about the high-grade silver-base metal discovery at Tangoa West as it extends the high-grade Webbs Consol mineral system to three kilometres,” Managing Director Ted Leschke said.
“In addition, the newly recognised vertical mineralisation and alteration zonation identified in drilling to date has strong implications for mineralisation at depth at Webbs more broadly.”
Downhole electromagnetic and fixed loop electromagnetic geophysical surveys are now underway to target the most prospective mineralisation encountered to date.
Shares in Lode Resources were up 73.33 per cent to $0.26 as of 11:52 am AEST.