Lode Resources Ltd. provided a drilling update from the 100% owned Webbs Consol Silver Project located in the New England Fold Belt in north-eastern New South Wales. The ongoing Phase II drill programme at the Webbs Consol Silver Project has resulted in a significant 20.5m down hole intercept (16.0-36.5m) of sulphide mineralisation in drill hole WCS034. Mineralisation content is estimated 6% sphalerite ((Zn,Fe)S) and 3% galena (PbS).

Significant silver mineralisation is also anticipated in assays. Sulphide distribution within this intercept ranges from disseminated to semi-massive aggregates of sphalerite and galena blebs. This is the first drill hole into the Copycat prospect which was discovered through surface mapping and sampling.

The resultant significant intercept makes Copycat the sixth sulphide lode discovered to date at the Webbs Consol Silver Project. The Webbs Consol Silver Project has quickly become the Company's project due to the high calibre of drilling results achieved to date. Together with the newly drilled Copycat lode six mineralised lodes have been discovered to date.

As previously reported Phase I drilling has returned meaningful silver, zinc and lead intercepts in 22 of the 29 holes drilled, or a 75% hit rate, and 14 of the 29 holes drilled resulted in intercepts with strong metal endowment (>700 AgEq g/t.m), or a 48% hit rate. The top 6 drill holes ranked by mineral endowment are as follows: WCS023 reported 50.0m at 314 g/t AgEq1 from 17.0m (15,708 AgEq g/t.m); WCS006 reported 27.5m at 552 g/t AgEq1 from 104.6m (15,168 AgEq g/t.m); WCS019 reported 27.3m at 412 g/t AgEq1 from 30.1m (11,244 AgEq g/t.m); WCS007 reported 24.2m at 450 g/t AgEq1 from 122.9m (10,871 AgEq g/t.m); WCS020 reported 31.0m at 241 g/t AgEq1 from 30.6m (7,471 AgEq g/t.m); WCS028 reported 43.6m at 141 g/t AgEq1 from 138.4m (6,337 AgEq g/t.m). Located 16km west-south-west of Emmaville, Webbs Consol was discovered in 1890 with intermittent mining up to the mid-1950s.

The Webbs Consol Project (EL8933) contains several small, but high grade, silver-lead-zinc-gold deposits hosted by the Webbs Consol Leucogranite which has intruded the Late Permian Emmaville Volcanics and undifferentiated Early Permian sediments. Several mine shafts were worked for the high-grade galena and silver content only, with high-grade zinc mineralisation discarded. Mineral concentration was via basic Chilean milling techniques and sluicing.

Some subsequent rough flotation of galena was carried out with no attempt to recover sphalerite. Ore mineralogy includes galena, sphalerite, marmatite, arsenopyrite, pyrite, chalcopyrite, minor bismuth, and gold. Chief minerals are generally disseminated but also high grade "bungs" where emplacement is a combination of fracture infilling and country rock replacement.

Gangue mineralogy includes quartz, chlorite and sericite with quartz occurring as veins and granular relicts. Historical sampling shows potential for high grade silver and zinc mineralisation at Webbs Consol. It was reported that 12 samples taken from the lowest level of the main Webbs Consol shaft ("205' Level" or 60m depth) averaged 210g/t silver, 22.6% zinc and 2.74% lead.

Epithermal style mineralisation occurs in `en échelon' vertical pipe like bodies at the intersection of main north-south shear and secondary northeast-southwest fractures. No leaching or secondary enrichment has been identified.