LODE RESOURCES LTD — Regulatory Filings 2021

Dec 13, 2021

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14 December 2021

High-Grade Mineralisation in First Phase Drilling at Webbs Consol

Highlights

• First phase drilling at Webbs Consol has intersected high-grade mineralisation over substantial widths in two drill holes below the Main Shaft Prospect as summarised below. These substantial silverzinc-lead intercepts remain open at depth.

• WCS006[1] :

27.50m @ 467 g/t silver equivalent[2] or 9.44 % zinc equivalent[2] (118 g/t silver, 6.52% zinc and 0.77% lead) from 104.60m including:

23.80m @ 526 g/t silver equivalent or 10.62 % zinc equivalent (135 g/t silver, 7.32% zinc and 0.82% lead) from 105.60m including:

4.40m @ 800 g/t silver equivalent or 16.24 % zinc equivalent (287 g/t silver, 9.39% zinc and 1.47 % lead) from 105.60m

• WCS007:

24.15m @ 374 g/t silver equivalent[2] or 7.57 % zinc equivalent[2] (63 g/t silver, 5.96% zinc and 0.49% lead) from 122.90m including:

19.00m @ 461 g/t silver equivalent or 9.35 % zinc equivalent (78 g/t silver, 7.43% zinc and 0.49% lead) from 126.00m including:

10.30m @ 675 g/t silver equivalent or 13.71 % zinc equivalent (123 g/t silver, 10.82% zinc and 0.56% lead) from 129.70m

• Further drilling is planned for the 100% owned Webbs Project following current drilling at Lode’s 100% owned Uralla Gold and Fender (Trough Gully) Copper Projects

Commenting on this first phase drilling at Webbs Consol, Lode’s Managing Director, Ted Leschke said: “Intersecting high-grade mineralisation over substantial widths is the main hall mark of a quality mineral project. Whilst there is still a significant amount of work to be done, these excellent drill results from the first two drill holes into the Main Shaft Prospect provides confidence in further planned drilling.”

1Raw assays for drill hole WCS006 were previously reported in LDR announcement 17 November 2021 titled “First drill assays received for Webbs Consol Silver Project”

Lode Resources Ltd ACN 637 512 415 Level 30, 264 George St Sydney NSW 2000 I www.loderesources.com

ASX I 14 December 2021

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Webbs Consol: High-Grade Mineralisation in 1st Phase Drilling

Lode Resources Ltd (ASX: LDR or ‘Lode’ or ‘the Company’) is pleased to report that first phase drilling has produced outstanding assay results from the two drill holes testing the Main Shaft Prospect at Webbs Consol project, located near Emmaville in the New England region of New South Wales.

This first phase diamond drilling programme was designed to test for extensions of mineralisation historically mapped in underground workings at the Main Shaft Prospect.

Both WCS006 and WCS007 holes have intercepted significant silver-zinc-lead mineralisation over significant widths. See Figure 1. These two holes give confidence in down dip continuity below the Webbs Consol Main Shaft and other adjacent historical workings.

Mineralisation styles encountered range from coarse sulphide blebs to massive irregular sulphide (predominantly sphalerite with minor galena) veins hosted in coarse grained porphyritic granite with strong to intense pervasive cholritic alteration. See Photos 1 & 2. Wall rock is entirely coarse-grained porphyritic granite with pervasive sericitic alteration.

Photos 1 & 2: Coarse blebs & massive veins of brown-purple coloured sphalerite in core from drill hole WCS006

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4.8 cm
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• Drill hole WCS006 has intercepted 27.5m grading an average of 467 g/t silver equivalent or 9.44 % zinc equivalent .

• Drill hole WCS007 has intercepted 24.15m grading 374 g/t silver equivalent or 7.57 % zinc equivalent .

Whilst both these intersections are considered to be high-grade in their entirety and there are even higher-grade components within both the intersections as shown in Table 1.

Table 1: Intercept grade calculations for drill holes WCS006 and WCS007

Hole	From	To	Interval	Silver Eq2	Zinc Eq2	Silver	Zinc	Lead
	(m)	(m)	(m)	(g/t)	(%)	(g/t)	(%)	(%)
WCS006	104.60	132.10	27.50	467	9.44	118	6.52	0.77
incl.	105.60	129.40	23.80	526	10.62	135	7.32	0.82
incl.	105.60	110.00	4.40	800	16.24	287	9.39	1.47
WCS007	122.90	147.05	24.15	374	7.57	63	5.96	0.49
incl.	126.00	145.00	19.00	461	9.35	78	7.43	0.49
incl.	129.70	140.00	10.30	675	13.71	123	10.82	0.56

2Webbs Consol reported silver and zinc equivalents is based on assumptions: AgEq(g/t)= Ag(g/t)+49Zn(%)+32Pb(%) and ZnEq(%)= Zn(%)+0.021Ag(g/t)+0.648Pb(%) calculated from 10 December 2021 spot prices of US$22/oz silver, US$3354/t zinc, US$2291/t lead and metallurgical recoveries of 94.3% silver, 97.0%, zinc and 92.0% lead which is 2[nd] stage rougher concentration stage recoveries in test work commissioned by Lode and reported in LDR announcement 14 December 2021 titled “High Metal Recoveries in Preliminary Flotation Testwork on Webbs Consol Mineralisation”. It is Lode’s opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold.

The estimated true width of the widest intersections in drill holes WCS006 and WCS007 is 14.2 metres and 10.4 metres respectively. Preliminary metallurgical testwork performed on a composite sample of mineralisation intersected from drill hole WCS007 was recently reported. This has resulted in very high recoveries of silver, zinc and lead as well as high metal grades in concentrate from a rougher preliminary flotation test and has allowed metal equivalent values to be calculated.

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At this stage it is not known if silver or zinc is the dominant metal for the purposes of metal equivalent calculation so both are shown in this report. Silver was the main target metal of historical mining at the Webbs Consol Main Shaft and other adjacent mines as reported in multiple reports and observed in surface dumps, whereas zinc is the dominant metal encountered in just two drill holes into the same prospect by Lode.

The success of drill holes WCS006 and WCS007 has rendered first phase drilling programme at the Webbs Consol Project a success. Two additional holes have been completed at the Webbs Consol’s Lucky Lucy Prospect with results to be reported in due course.

Further drilling is planned for 100% owned Webbs Consol Project following current drilling being carried out at Lode’s 100% owned Uralla Gold and Fender (Trough Gully) Copper Projects. Future drilling is likely to focus on testing down dip extensions of Main Shaft Prospect, other adjacent prospects which were known historical producers of silverlead mineralisation as well as geophysical targets.

Figure 1: Cross Section of Webbs Consol Main Shaft Prospect with drill holes WCS006 & WCS007[1,2] mineralised intercepts. Historical reports state that the Webbs Consol mineralised structure strikes 190° and dips 70-75° east.

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West East
Drill hole
WSC006 [1,2]
Webbs Consol
60m main
shaft
Stoped
ore
Drill hole
WSC007 [1,2]
27.50m @ 467 g/t silver eq
or 9.44 % zinc eq [1,2]
24.15m @ 374 g/t silver
? eq or 7.57 % zinc eq [1,2]
?
EOH
164.7m
EOH
188.7m
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1LDR announcement 19 October 2021 titled “Significant sulphides intersected at Webbs Consol”

2LDR announcement 17November 2021 titled “First drill assays received for Webbs Consol Silver Project”

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Figure 2: Webbs Consol Project – Rock chip/grab sampling and drill hole positions[1,2,3]

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Drill Target - Webbs Consol North
Ag & Pb in grab samples Highly anomalous soils
Sample Ag g/t Pb % Not e = Potential extension
ID
R157 149 1.88 1
R165 126 5.21 1
R163 84 5.63 1 Webbs Consol North
WC11 82 4.47 2
28702 69 2.95 2
R166 65 6.56 1
WC2 54 0.85 2
28707 54 2.80 2 WCS004&
R161 47 0.61 1 WCS001, WCS005
28708 39 1.30 2 WCS002
28703 34 0.35 2 & WCS003
WC10 32 1.84 2
R164 28 2.55 1
R160 25 0.40 1
WC6 23 2.12 2
R162 20 1.59 1
28709 19 1.27 2 Drill Target - Lucky Lucy
R167 16 0.98 1 Ag & Pb in grab samples
Sample Ag g/t Pb % Not e
ID
28715 272 0.09 2
R173 130 0.02 1
R169 70 0.20 1
WC18 60 0.22 2
Lucky Lucy 28717 37 0.85 2
R174 34 0.05 1
R172 33 0.03 1
R171 27 0.55 1
28713 21 0.12 2
28714 19 0.04 2
28716 18 0.11 2
Webbs Consol
Main Shaft
Drill Target - Webbs Consol Central
Ag, Pb & Zn in grab samples
WCS006 &
Sample Ag g/t Pb % Zn % Not e
ID WCS007
R176 2230 7.34 32.5 1
R177 289 18.65 0.9 1
R182 99 6.92 0.1 1
R178 94 3.36 3.6 1
R180 64 0.20 0.0 1
R181 21 2.34 3.8 1
R179 20 0.80 0.5 1
R183 14 0.63 0.3 1
Webbs Consol Central
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Webbs Consol Project Overview

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 northeastsouthwest fractures. No leaching or secondary enrichment has been identified.

Figure 3: Webbs Consol Main Shaft oblique view

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North
Webbs Consol
mined stopes
Open-ended high-grade
mineralisation at 60m depth:
12 samples averaged 210g/t
Ag, 22.6% Zn and 2.74% Pb
?
? Main lode remains
Mineralised veins in
face and conductive
anomaly to north Drill
indicate potential new Target
lode along strike and ?
at depth
?
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Photo 4: Webbs Consol Main Shaft Specimen showing coarse galena mineralisation

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This announcement has been approved and authorised by Lode Resource Ltd’s Managing Director, Ted Leschke.

Competent Person’s Statement

The information in this Report that relates to Exploration Results is based on information compiled by Mr Mitchell Tarrant, who is a Member of the Australian Institute of Geoscientists. Mr Tarrant, who is the Project Manager for Lode Resources, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Tarrant consents to the inclusion in this Report of the matters based on the information in the form and context in which it appears.

For further information, please contact: Investor Enquiries

Ted Leschke Managing Director Ted@loderesources.com

About Lode Resources

Lode Resources is an ASX-listed explorer focused on the highly prospective but underexploited New England Fold Belt in north eastern NSW. The Company has assembled a portfolio of brownfield precious and base metal assets characterised by:

• 100% ownership;

• Significant historical geochemistry and/or geophysics;

• Under drilled and/or open-ended mineralisation; and

• Demonstrated high grade mineralisation and/or potential for large mineral occurrences.

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Figure 4: Lode’s Project Locations (yellow polygons)
Mt Carrington
Twin Hills
Gold & Silver
Gold &
Silver
Webbs Consol
Silver
Webbs Timbarra
Silver Gold &
Silver
NSW Sandon
Base Metals
Elsinore
Thor Tea Tree
Copper
Gold Gold
Uralla
Gold
Hillgrove
Gold &
Rocky Antinomy
River
Okapi Resources
Enmore Gold
Newmont Fender
Gold Copper
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For more information on Lode Resources and to subscribe for our regular updates, please visit our website at www.loderesources.com

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JORC Code, 2012 Edition - Table 1.

Section 1 Sampling Techniques and Data

(Criteria	in this section apply to all succeeding sections.)
Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	• Diamond drilling techniques were used to obtain samples. • NQ2 core was logged and sample intervals assigned based on the geology. • Core sampled for assaying were sawn in half and bagged according to sample intervals. Intervals range from 0.2m to 1.2m. • Blanks and standards were inserted at >5% where appropriate. • Remaining core sample for metallurgical tests were sawn in half (ie quarter of the original core) and bagged as one composite sample. • Samples were sampled by a qualified geologist. • Assay samples were sent to ALS in Brisbane. • Metallurgical samples were sent to ALS in Perth. • Sample preparation comprised drying (DRY-21), weighed, crushing (CRU-31) and pulverised (PUL- 32), refer to ALS codes. • The assay methods used were ME-ICP61 and Au- AA25 (refer to ALS assay codes). ME-ICP61 (25g) is a four-acid digestion with ICP-AES finish. Au-AA25 (30g) is a fire assay method.
Drilling techniques	• Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so,bywhat method,etc).	• All drilling is Diamond drilling (core), NQ2 in size. • Core was collected using a standard tube. • Core is orientated every run (3m) using the truecoreMT UPIX system.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• Core recoveries are measured using standard industry best practice. • Core loss is recorded in the logging. • Core recovery in the surface lithologies is poor. • Core recovery in fresh rock is excellent with >99% recovered from 12m downhole depth.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	• Holes are logged to a level of detail that would support mineral resource estimation. • Qualitative logging includes lithology, alteration, texture, colour and structures. • Quantitative logging includes sulphide and gangue mineral percentages. • All drill core was photographed wet and dry. • All drill holes have been logged in full.

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	• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.
Sub- sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material beingsampled.	• Core was prepared using standard industry best practice. • The core was sawn in half using a diamond core saw and half core was sent to ALS Brisbane for assay. • The remaining core was sawn in half (ie quarter of the original core) using a diamond core saw and quarter core was sent to ALS Perth for metallurgical tests. • No duplicate sampling has been conducted. • Sample intervals ranged from 0.2m to 1.2m. The average sample size was 1m in length. The sample size is considered appropriate for the material being sampled.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• Samples were stored in a secure location and transported to the ALS laboratory in Brisbane QLD and ALS laboratory in Perth via a certified courier. Sample preparation comprised drying (DRY-21), weighed, crushing (CRU-31) and pulverised (PUL-32). • The assay methods used were ME-ICP61 and Au- AA25 (refer to ALS assay codes). ME-ICP61 (25g) is a four-acid digestion with ICP-AES finish. Au- AA25 (30g) is a fire assay method. • Certified standards and blanks were inserted at a rate of >5% at the appropriate locations. These are checked when assay results are received to make sure they fall within the accepted limits. • The assay methods employed are considered appropriate for near total digestion.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss anyadjustment to assaydata.	• Laboratory results have been reviewed by the Exploration Manager. • Significant intersections are reviewed by the Exploration Manager and Managing Director. • No twin holes were drilled. • Commercial laboratory certificates are supplied by ALS. • The certified standards and blanks are checked.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Drill hole collar locations were picked up using a RTK GPS (+- 0.025m). • Grid system used is GDA94 UTM zone 56 • Down hole surveys are conducted with a digital magnetic multi-shot camera at 30m intervals.

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Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• The holes drilled were for exploration purposes and were not drilled on a grid pattern. • Drill hole spacing is considered appropriate for exploration purposes. • The data spacing, distribution and geological understanding is not currently sufficient for the estimation of mineral resource estimate. • No sample compositing has been applied for general assaying. • Sample composition has been applied for metallurgical tests and associated assaying.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• Drill holes are orientated perpendicular to the perceived strike where possible. • The orientation of drilling relative to key mineralised structures is not considered likely to introduce sampling bias. • The orientation of sampling is considered appropriate for the current geological interpretation of the mineral style. • The WCS006 and WCS007 drill hole intersects the Webbs Consol mineralised structure at approximately 70° laterally.
Sample security	• The measures taken to ensure sample security.	• Samples have been overseen by the Project Manager during transport from site to the assay laboratories.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• No audits or reviews have been carried out at this point.

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	• The sampling was conducted on EL8933 • EL8933 is 100% held by Lode Resources Ltd. • Native title does not exist over EL8933 • All leases/tenements are in good standing
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Historical rock and soil sampling (Figure 1)
Geology	• Deposit type, geological setting and style of mineralisation.	• EL8933 falls within the southern portion of the New England Orogen (NEO). EL8933 hosts numerous base metal occurrences. The Webbs Consol mineralisation is likely intrusion related and hosted within the Webbs Consol Leucogranite.
Drill holeInformation	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes, including, easting and northing, elevation or RL, dip and azimuth, down hole length, interception depth and hole length. • If the exclusion of this information is justified the Competent Person should clearly explain why this is the case.	• See row below. • Only drill assays from meaningful mineralised intercepts are tabulated below. A meaningful intercept is generally determined as being a series of consecutive assays grading >1g/t Ag, >0.1% Zn and/or >0.1% Pb.

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						EOH
Hole ID	Easting	Northing	RL	Dip	Azimuth	Depth	Intercept depth		Width	TW
	GDA94	GDA94					From
	Z56	Z56			(Grid)	(m)	(m)	to(m)	(m)	(m)
WCS006	352519	6736346	780	-60	303	188.7	105.6	129.4	23.8	12.2
WCS007	352519	6736346	780	-64	303	164.7	122.9	147	24.1	10.4

Drill hole WCS006 intercept assays	Drill hole WCS006 intercept assays	Drill hole WCS006 intercept assays	(Webbs	Consol Main	Shaft Prospect)	Shaft Prospect)
Sample	From	To	Interval	Ag	Zn	Pb
No.	m	m	m	g/t	%	%
D00282	104.6	105.1	0.50	7.2	0.49	0.57
D00283	105.1	105.6	0.50	13.2	0.92	0.82
D00288	105.60	106.00	0.40	61.5	50.20	0.13
D00292	106.00	107.00	1.00	104.0	4.61	0.96
D00294	107.00	108.00	1.00	334.0	5.55	1.50
D00297	108.00	109.00	1.00	317.0	8.44	1.51
D00299	109.00	110.00	1.00	485.0	2.64	2.45
D00302	110.00	111.00	1.00	47.7	4.24	0.71
D00304	111.00	112.00	1.00	95.4	4.44	0.94
D00306	112.00	113.00	1.00	300.0	4.75	2.52
D00308	113.00	114.00	1.00	112.0	14.85	0.80
D00311	114.00	115.00	1.00	144.0	5.56	1.03
D00313	115.00	116.00	1.00	61.3	4.82	0.49
D00315	116.00	117.00	1.00	172.0	6.70	0.80
D00317	117.00	118.00	1.00	70.1	8.37	0.38
D00319	118.00	119.00	1.00	79.5	5.75	0.45
D00322	119.00	120.00	1.00	77.0	5.39	0.47
D00324	120.00	121.00	1.00	127.0	7.17	0.66
D00326	121.00	122.00	1.00	56.9	6.73	0.36
D00328	122.00	123.00	1.00	109.0	6.40	0.47
D00330	123.00	124.00	1.00	138.0	7.82	0.59
D00332	124.00	125.00	1.00	57.9	5.66	0.31
D00334	125.00	126.00	1.00	65.4	8.07	0.27
D00336	126.00	127.00	1.00	101.0	6.28	0.57
D00338	127.00	128.00	1.00	83.7	7.36	0.74
D00340	128.00	129.00	1.00	30.6	6.83	0.24
D00343	129.00	129.40	0.40	48.3	14.20	0.41
D00345	129.40	130.00	0.60	14.0	2.42	0.25
D00347	130.00	131.00	1.00	10.7	2.04	0.09
D00349	131.00	132.10	1.10	6.3	0.83	0.65
Intercept	104.60	132.10	27.50	118.1	6.52	0.77

Drill hole WCS007intercept assays	Drill hole WCS007intercept assays	Drill hole WCS007intercept assays	(Webbs	Consol Main	Shaft Prospect)	Shaft Prospect)
Sample	From	To	Interval	Ag	Zn	Pb
No.	m	m	m	g/t	%	%
D00369	122.90	124.00	1.10	16.0	0.63	0.65
D00371	124.00	125.05	1.05	1.4	0.06	0.07
D00372	125.05	126.00	0.95	7.9	0.62	0.69
D00374	126.00	127.00	1.00	32.7	1.00	1.07
D00376	127.00	128.00	1.00	29.5	5.48	0.43
D00378	128.00	129.00	1.00	30.8	5.75	0.35
D00381	129.00	129.70	0.70	21.4	3.27	0.16
D00383	129.70	130.70	1.00	130.0	10.00	0.47
D00386	130.70	131.30	0.60	67.6	10.90	0.48
D00388	131.30	132.00	0.70	52.8	10.30	0.18
D00390	132.00	133.00	1.00	57.5	11.70	0.25
D00392	133.00	134.00	1.00	66.4	4.63	0.26
D00394	134.00	135.00	1.00	188.0	7.74	0.78
D00396	135.00	136.00	1.00	113.0	8.80	0.53
D00398	136.00	137.00	1.00	258.0	15.45	1.49
D~~00401~~	~~137.00~~	~~138.00~~	~~1.00~~	~~147.0~~	~~17.25~~	~~0.47~~

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				• Intersection calculation are weighted to sample length. • No grade capping has been applied. • Theassumptions used for any reporting of metal equivalent values are clearly state in the body of this report.
	Data aggregation methods
	Relationship between mineralisation widths and intercept lengths		• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	• The reported historical strike and dip of the Webbs Consol mineralised lode is; Strike 190°, dip 70-75° east. • The WCS006 and WCS007 drill hole intersects the Webbs Consol mineralised structure at approximately 70° laterally (20° off perpendicular).
	Diagrams		• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plans and sections.	• Refer to plans and sections within report

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ASX I 14 December 2021

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Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• The accompanying document is considered to represent a balanced report.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported.	• All meaningful and material data is reported.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).	• Further drilling is planned for 100% owned Webbs Consol Project following the current first phase drilling at Lode’s 100 % owned Uralla Gold Project and 100% owned Fender (Trough Gully) Copper Project

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