Lode Resources Limited has advanced its strategic exploration efforts with the release of its maiden Mineral Resource Estimate at its wholly owned Webbs Consol precious and base metals project, located in the New England Fold Belt of northeastern New South Wales. The estimate is prepared in accordance with the 2012 JORC Code and outlines a combined Inferred and Indicated resource of approximately 1.57 million tonnes at an average grade of 636 grams per tonne Ag equivalent, based on a 140g/t AgEq cut-off. The detailed technical work, underpinned by over 11,000 meters of drilling from both diamond and reverse circulation campaigns, confirms the presence of high-grade silver-zinc-lead sulphide mineralisation associated with the Webbs Consol Leucogranite. The project, historically known for its high-grade silver-base metal lodes dating back to the 1880s, offers promise for further resource definition and potential expansion. The extensive drilling program, which involved strategically spaced drill holes and rigorous sampling protocols, has resulted in a robust geological model that delineates several steeply dipping, mineralised pipes over a 3 km strike length. Advanced modelling techniques, including inverse distance squared interpolation and detailed QAQC procedures, underpin the stated tonnage and grade estimates. Preliminary metallurgical testwork has also demonstrated the potential for the production of saleable bulk concentrates with high recoveries, lending further economic credence to the project. The technical details outlined in the announcement shed light on the economic assumptions applied to determine a break-even cut-off grade of 140g/t AgEq. The study takes into account industry mining, milling, and operating costs along with realistic metal price forecasts and recovery rates. Further drilling – both infill and extension – is under active consideration as the company looks to test the mineralisation at depth and along strike, while ongoing exploration in the district continues to foster a portfolio of high-potential projects. Market reaction could lean in different directions based on the news. On the bullish side, the establishment of a maiden Mineral Resource Estimate marks a significant milestone that not only validates the presence of high-grade silver-zinc-lead mineralisation at Webbs Consol but also sets the stage for future resource expansion and development opportunities. The robust technical methodology and encouraging metallurgical outcomes add to the potential upside, suggesting that Lode Resources Limited is well-positioned to advance its projects. Conversely, from a bearish perspective, much of the resource remains classified as inferred, which implies a lower level of confidence compared to higher-grade indicated resources. Additionally, the absence of comprehensive mining studies and the reliance on economic assumptions highlight that further drilling and exploration remain critical before the full potential of the project can be realised.