- Early drilling confirms shallow higher-grade copper-gold
- Results pending from additional seven holes
- Monza part of a 17km mineralised trend
- Similar geological setting to Northparkes copper gold complex
LinQ Minerals (ASX: LNQ) has obtained significant early results from its maiden drilling program at the Monza prospect within the Gilmore project in NSW.
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Assays from early holes includes an intersection of 70.8m at 1.11% copper equivalent (CuEq) from 71.2m.
“Our maiden drill campaign at Monza has delivered an excellent first result, intersecting shallow, thick copper gold mineralisation from near surface,” executive chair, Clive Donner, said.
“There has been limited historical drilling at Monza to date and the target remains open in multiple directions. We have multiple assays pending across the Gilmore project and anticipate further news flow this month.”
Mr Donner said LinQ’s drilling at Gilmore to date continues to demonstrate significant scale and mineralisation across a 40km strike.
“The company is significantly leveraged to both copper and gold and is well-funded with $18.7m cash on hand to execute on a large drill campaign across our highly prospective belt.”
Monza is located within the Central Zone of the Gilmore gold-copper project in the prolific Macquarie Arc.
Drilling was designed to test for extensions of high-grade gold and copper mineralisation intersected in previous drilling.
Monza forms part of a broader 17km long mineralised porphyry copper and gold corridor that includes reported mineral resource estimates (MRE’s) at the Estoril, Culingerai and Mandamah deposits along with two advanced prospects, Monza and Donnington.
A number of additional porphyry complexes have been identified within the 17km strike zone that have only been previously sporadically drill tested such as Showground, Punch, Harold Bell, Chicane and RainHill.
These occur within a highly prospective structure located immediately adjacent to the Rain Hill Monzodiorite stock geologically analogous to the Northparkes copper-gold complex located approximately 150km north of the Gilmore project. Discovered in 2007 by Goldminco Corporation, Monza is only located one km northwest of Estoril.
LNQ is steady at 37.5¢. Mkt cap $76.90M.
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