Webbs Consol Resource Hits 1.57Mt at 636g/t Silver Equivalent, 32Moz Total
Lode Resources has announced a maiden Mineral Resource Estimate for its Webbs Consol project in New South Wales, revealing a high-grade silver equivalent resource of 32 million ounces. The estimate confirms the project's potential with strong grades and promising metallurgical recoveries.
- Maiden Mineral Resource Estimate totals 1.57 million tonnes at 636 g/t silver equivalent
- Resource contains approximately 32 million ounces of silver equivalent metals
- High-grade silver, zinc, lead, copper, and gold mineralisation in steeply dipping pipes
- Metallurgical testwork indicates recoveries above 90% for key metals
- Further drilling and exploration planned to extend and refine resource
Maiden Resource Marks a Milestone
Lode Resources Limited (ASX – LDR) has taken a significant step forward with the release of its maiden Mineral Resource Estimate (MRE) for the Webbs Consol project, located in the New England Fold Belt of northeastern New South Wales. The resource, classified under the 2012 JORC Code, totals 1.57 million tonnes grading 636 grams per tonne silver equivalent (AgEq), containing an estimated 32 million ounces of silver equivalent metals.
This maiden estimate consolidates four years of exploration and drilling, highlighting the high-grade nature of the silver-zinc-lead-copper-gold mineralisation hosted within steeply dipping pipes associated with the Webbs Consol Leucogranite. The resource includes both Indicated and Inferred categories, reflecting varying confidence levels based on drill spacing and geological continuity.
Geological and Metallurgical Insights
The mineralisation occurs in several sub-vertical pipes ranging from 20 to 50 meters in diameter, aligned along a north-south structural trend. These pipes remain open at depth, suggesting potential for resource expansion. The mineral assemblage includes silver-rich galena, sphalerite, pyrite, chalcopyrite, and tetrahedrite, indicating a polymetallic deposit with multiple revenue streams.
Preliminary metallurgical testwork conducted by ALS Metallurgical Services has demonstrated strong recoveries exceeding 90% for silver, zinc, lead, copper, and gold, supporting the economic viability of the deposit. The production of saleable bulk concentrates further enhances the project's attractiveness.
Economic and Mining Considerations
The company has applied a break-even cut-off grade of 140 grams per tonne AgEq, based on updated assumptions including metal prices, mining and milling costs, and metallurgical recoveries. The deposit's geometry suggests amenability to underground bulk mining methods such as sub-level open stoping or sub-level cave mining, with potential for limited open-cut mining near surface.
Lode Resources’ Director, Jason Beckton, emphasised the milestone nature of the MRE, noting it validates the high-grade mineralisation and sets the stage for further drilling and resource definition. The company is actively considering additional infill and extension drilling to test the depth and strike potential of the mineralised pipes.
Looking Ahead
With the maiden resource now established, Lode Resources is positioned to advance Webbs Consol towards development, while continuing exploration in the district. The project benefits from solid infrastructure access and a historic mining backdrop, factors that could support future economic extraction. However, detailed mining studies and environmental assessments remain outstanding, representing the next critical steps in the project’s evolution.
Bottom Line?
Webbs Consol’s maiden resource confirms high-grade potential, but upcoming drilling and feasibility work will be key to unlocking value.
Questions in the middle?
- How will Lode Resources prioritise drilling to convert inferred resources to indicated or measured categories?
- What are the timelines and expected costs for completing detailed mining and environmental studies?
- How sensitive is the project’s economics to fluctuating metal prices, particularly silver and zinc?
