Lode Resources Ltd has announced an exploration update at the company’s 100% owned Uralla Gold Project located in the New England Fold Belt in north-eastern New South Wales.
Lode leases cover over 300 km2 which is almost the entire historic Uralla Goldfield, one of the earlier goldfields discovered in NSW and a significant gold producer in the 1850’s.
Highlights:
- Completion of 1159 auger drill holes across approximately 1.6km2 at the Hudson’s group of prospects at Lode’s Uralla Gold Project.
- The programme aimed to follow up on prior drilling success and to identify anomalous gold values to assist with further drill targeting.
- Drill results show significant gold intercepts, highlighting the Project’s potential.
- Results from the auger programme are expected in the June Quarter.
- Future drilling is planned at Uralla, underpinned by previous successes, results from the just complete auger drilling programme and geological insights suggesting the presence of an Intrusive Related Gold System (IRGS).
- Managing Director, Ted Leschke, commented:
“Whilst we finalise the design of an extension and infill drill programme at Webbs Consol, including Tangoa West and other targets, we are keen to keep the pace of activity going across the Company’s portfolio. We have previously had excellent drilling results at Uralla with our first pass programme. Given Uralla’s extensive area, this auger drill programme has been designed to most cost effectively identify targets for our upcoming programs including deeper drilling at the best prospects.
Progressive exploration success and the understanding of IRGS mineralisation at the Hudson group of prospects has strong implications for the entire Uralla goldfield which is almost entirely covered by Lode’s exploration licences. The auger drilling results will be incorporated into drill programmes planned for the coming months, and we are fully funded for drilling at both Uralla Gold and Webbs Silver”.