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- Labyrinth Resources (LRL) intersects up to 44.12g/t gold from its flagship Labyrinth Gold Project in Quebec, Canada
- Labyrinth’s maiden diamond drilling program began in late June with roughly 3000 metres planned to target extensions of the known resource mineralisation
- Results for the remainder of hole LABS-22-01 A and all from LABS-22-02 are pending with drilling of hole LABS-22-03 now underway
- Additionally, a maiden JORC mineral resource estimate is now underway and is on track for completion in the current quarter
- Labyrinth is up 2.13 per cent with shares trading at 2.3 cents at market close
Labyrinth Resources (LRL) has intersected up to 44.12g/t gold from its flagship Labyrinth Gold Project in Quebec, Canada.
Labyrinth’s maiden diamond drilling program began in late June with roughly 3000 metres planned to target extensions of the known resource mineralisation.
Partial results have been received from hole LABS-22-01 A which returned an intersection of 2.2 metres at 10.67g/t gold from 143.5 metres including 0.5 metres at 44.12g/t gold.
This hole also intersected a 30-centimetre zone of strong, semi-massive fine-grained pyrite grading five per cent pyrite from 336 metres downhole.
Dolerite with strong leucoxene alteration was also intercepted over a 1.5-metre distance within a thin, well-formed quartz vein.
Hole LABS-22-02 was drilled to intercept the mineralisation trends as close to true width as possible and targeted the down-dip extensions to the lodes.
Results for the remainder of hole LABS-22-01 A and all from LABS-22-02 are pending with drilling of hole LABS-22-03 now underway.
Additionally, a maiden JORC mineral resource estimate is now underway and is on track for completion in the current quarter.
“We now eagerly await results for the rest of the surface campaign, which will test vertical lode extensions down to approximately 700 metres and across the majority of the 1.6 kilometre strike,” Chief Executive Matt Nixon commented.
“At the same time, we are completing the maiden JORC resource estimate, which is set for release later this quarter.
“To consider that we are only just beginning to test the comparatively shallow extents of this highly prospective gold system in the prolific Abitibi Belt is very exciting.”
Labyrinth was up 2.13 per cent with shares trading at 2.3 cents at market close.
