PROMISING TARGETS AT URALLA PROJECT

Comprehensive Drill Programme Unveils Multiple Anomalies

Lode Resources Ltd (ASX: LDR) has completed an extensive auger drilling campaign at its Uralla Gold Project, announcing significant progress in identifying new gold targets over a 1.6 km² area. This recent exploration has resulted in the completion of 1,159 auger drill holes, enhancing the geological understanding of the area.

The drilling data has been fully analysed, yielding gold and pathfinder metal anomalies that have been gridded and imaged. Noteworthy findings include several high-level gold anomalies with assays reaching up to 1,300 ppb Au. These anomalies, half of which are situated in areas without hard rock outcrops, suggest potential for blind mineralisation. The anomalies enhance the prospective nature of the Uralla project and provide promising drill targets.

One of the standout features identified is a dyke/Grace Lode area, which forms a circular feature potentially indicating an intrusive pluton and significant mineralisation at depth. This adds a new dimension to Lode Resources’ understanding of the mineralisation system at Uralla.

Highlighted historical and recent drill results underline the potential richness of the site.

Notable intersections include:

  • 26.0 m at 2.80 g/t Au, including 14.0 m at 4.82 g/t Au
  • 18.0 m at 3.51 g/t Au
  • 20.0 m at 2.33 g/t Au, including 8.0 m at 5.40 g/t Au
  • 35.0 m at 1.10 g/t Au, including 5.0 m at 3.29 g/t Au

Further drilling is slated to continue at Uralla, supported by historical success and the insights gained from the recent auger drilling. Geological analysis indicates the likely presence of an Intrusive Related Gold System (IRGS), enhancing the exploration model for the project.

Managing Director, Ted Leschke, stated:

We are very pleased with the results of the auger drilling as they indicate a number of new drill targets prospective for gold mineralisation including a circular cluster in the Dyke/Gracie area potentially representing a large mineral system at depth. Work is ongoing at Uralla with results contributing to planning for the upcoming drill program.

Read the full announcement

Goldman

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