Lode Resources Ltd (ASX:LDR) reports that drill assay results have confirm its Hudson’s Prospect discovery of disseminated gold mineralisation with bulk tonnage potential and is supportive of the Uralla Gold Field being a large Intrusive Related Gold System (IRGS) in NSW, Australia
The company has completed 12 RC holes for a total of 915m at the Uralla Gold Project (EL8980) located in the New England Fold Belt of NSW. Phase I drilling is ongoing.
Assay have been received for 11 holes of the 12 RC holes testing three targets at the Hudson’s Prospect, one of several prospects at Lode’s Uralla Gold Project.
Each hole intersected gold mineralisation at shallow depth. Several holes have intersected strong gold mineralisation over substantial widths.
Hudson’s’ Prospect – Discovery of A New Gold Mineralisation Style
Through methodical field work Lode Resources has discovered a new style of gold mineralisation at the Hudson’s Prospect. During 2021 mapping and sampling revealed disseminated gold mineralisation hosted by a sedimentary rock unit called the Sandon Beds.
Visual observations and a petrological study of thin sections by an industry recognised petrologist has confirmed that the mineralisation can be classified as disseminated as it is hosted within a predominantly siltstone sedimentary rock (Sandon Beds) with a moderate amount of fine quartz stockwork veining and disseminated sulphides together with overprinting effects of hydrothermal alteration.
This newly discovered disseminated gold mineralisation presented significant drill targets and these were further enhanced through a high-density auger survey and a high-resolution drone borne magnetic survey.
Lode’s discovery of strong gold mineralisation over substantial width at shallow depth is a strong reaffirmation of this disseminated gold mineralisation.
Hudson’s Prospect– Bulk Tonnage Potential
The disseminated style of gold mineralisation discovered at the Hudson’s Prospect has strong implications for the Project’s bulk tonnage potential as sediment hosted mineralisation is likely to be significantly more pervasive that narrower vein host gold mineralisation which was sole focus of historical mining and previous exploration efforts by other companies.
In addition, significant area of anomalous gold in soils, as defined in this initial high-density auger survey, may suggest disseminated gold mineralisation is more widespread than previously thought and/or there are multiple mineralised structures with varied orientations hidden below soil cover.
Uralla Gold Project – Hudson’s Prospect
One of Several Drill Targets Drilling is on-going with a switch to diamond drilling testing additional multiple targets throughout the Uralla Gold Project. Lode’s Phase I drilling strategy is to test a variety of target styles ranging from known high-grade veins to geophysical targets.
These include:
1. Frazer’s Find – strong IP anomaly
2. Martin’s Shaft – multiple historical high-grade intercepts with potential extension as highlighted by recent Induced Polarisation (IP) survey carried out by Lode. Intercepts include: 14.0m @ 4.83 g/t Au1, 11.0m @ 5.38 g/t Au, 18.5m @ 2.41 g/t Au and 8.0m @ 5.40 g/t Au.
3. Various gold targets defined by surface sampling, including many untested areas at Hudson’s Prospect, and other IP targets.
For further information please visit: https://loderesources.com/
