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LDR - LODE RESOURCES LTD


nipper
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Lode Resources Limited (LDR) has raised $7.5million at 20c a share and is looking to list on the ASX; the offer is now closed but the date is likely now to be in mid June.

 

Lode was established for the primary purpose of exploring and acquiring gold, copper and silver exploration tenements in the New England Fold Belt of NSW, Australia.

 

The Company is exploring tenements located in the New England Fold Belt in northern NSW and covers an area of more than 950 square kilometres. All the Company's exploration licences are fully granted and fully owned by the Company.

 

Lode's six projects have the following key criteria:

  • ... 100% ownership;
  • ... significant preliminary surface work including geochemistry and/or geophysics;
  • ... under drilled and/or open-ended brownfields prospects; and
  • ... demonstrated high grade mineralisation and/or potential for large mineral occurrences.

The company has inherited a significant geological database as well as undertaking its own exploration work and believes the Tenements have potential for the discovery of large scale commercially viable gold, copper and silver mineralisation.

The six projects are:

 

Uralla Gold (incorporating Uralla West): The historical and significant Uralla Goldfield where two mineralisation styles are being targeted, that being high grade mineralised veins and high tonnage mineralisation associated with cupula structures. Previous work has discovered and delineated the former style of mineralisation in high-grade lodes that remain open and many targets including high grade surface samples, defined through preliminary surface work, were not followed up with drilling.

 

Webbs Consol Silver: Webbs Consol is a historical silver mining centre with high grade silver bearing lodes providing attractive targets that are essentially drill ready. Historical records of underground sampling indicated open ended high-grade mineralisation remains at relative shallow depths and subsequent geophysical anomalies were never followed-up by drilling.

 

Fender Copper: This project has four known copper deposits of which the Trough Gully copper mine is a drill ready target. In addition previous exploration surface work has delineated two significant copper anomalies presenting potential large tonnage targets.

 

Elsinore Copper: The project possesses a large 6km regional magnetic and IP anomaly with anomalous base/precious metals in geochemical sampling.

 

Thor Gold: This project contains a large 2km long gold anomaly potentially associated with high level intrusions and/or the surface representation of large and deep crustal structures.

 

Tea Tree: This project covers a historical goldfield which is underexplored with only two drill holes of which one intercepted gold mineralisation but with no follow-up drilling.

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  • 1 month later...

opened at 17c, ended Day One at 13.5c.. A difficult process to get IPO?

 

 

Listing date... 02 July 2021 12:30 PM AEST ##

Company contact details ...... https://loderesources.com/

 

Principal Activities .....Mineral exploration

 

Issue Price ... $0.20

Issue Type .... Ordinary Fully Paid Shares

Security code .... LDR

Capital to be Raised ..... $7,500,000

Expected offer close date .... 07 June 2021

Underwriter...... Not underwritten. Novus Capital Limited (Lead Manager)

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doing slightly better today, and up to 17c

IPO raised $5,115,200 (was targeting $7.5M)

LDR makes the case the New England Fold Belt had as interesting and prolific a history of success as the Lachlan FB, but is now under explored and under drilled for gold, silver and copper

 

 

a. Three projects drill ready

b. Targeting gold, silver and copper mineralisation

c. Brownfield status defined by historical mining and significant surface work

d. Under drilled and/or open ended mineralisation

e. Drilling commences 3Q21

 

Prospective Projects

1. Uralla Gold ...... Intrusive Related Gold System (IRGS) constituting a significant gold field ... drill ready

2. Webbs Consol Silver ... High grade silver bearing lodes, 3 attractive targets ... drill ready

3. Trough Gully (Fender) .... VMS style copper deposit ... drill ready

4. Elsinore ........ Large regional magnetic and IP anomaly with anomalous base/precious metals in geochemical sampling

5. Thor ........... Large gold anomaly potentially associated with high level intrusions or major regional fault structures

6. Tea Tree ..... Underexplored goldfield

 

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  • 11 months later...

The mineralisation at Webbs looks more widespread than previously thought with a mineral system strike length of around 3km. Historical mining appears to have only scratched the surface. From 14c, it opened at 34c coming out of a trading halt and now 26c. Up 70%

LDR210622.jpg
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