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- Geophysical IP survey identifies compelling drill target
- Potentially southern continuation of the Gidginbung system
- Planning underway to drill test the Gidginbung South IP target
- Interpretation suggests Dam deposit represents blind Gidginbung North porphyry complex
LinQ Minerals (ASX:LNQ) has upgraded a number of new prospects to test at the Gilmore project in with New South Wales.
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An IP survey has highlighted the potential of the Gidginbung South and North targets within the southern zone at Gilmore, with the completion of a recent MIMDAS induced polarisation (IP) survey highlighting Gidginbung South in particular.
The compelling drill target has been identified below post mineral cover.
The southern zone of the Gilmore Project spans a six km mineralised corridor with defined MRE’s at Gidginbung and the Dam prospect and additional targets at the Mag H1, Woolshed, and Fields prospects.
The new targets lie within a highly prospective arc transfer structure geologically analogous to the Cadia copper-gold complex.
New insights have also been gained regarding the Gidginbung North porphyry target.
“As part of our ongoing drilling campaign, we have been progressing with the use of modern exploration techniques over the past year to better understand the structural and geochemical elements of our deposits and mineralised targets,” executive chair, Clive Donner, said.
“The results of these studies, exploration techniques, drilling results and our extensive database have all provided us with additional understanding of our structures and drilling targets.
“Planning is underway to test both the southern and northern targets around the Gidginbung gold deposit.”
In May, LinQ engaged Geophysical Resources and Services (GRS) to undertake the MIMDAS IP, Resistivity and Magnetotelluric survey over the Gidginbung South target area.
The results of the survey have identified a distinct and compelling IP target from a depth of 200m, consistent with the expected thickness of cover.
Located some one km further south of the Gidginbung pit, it is considered that the IP target represents the southern strike continuation of the Gidginbung gold deposit, thus suggesting the Gidginbung system may extend continuously over two km of strike.
A previously completed hole, TP161, intersected low grade gold mineralisation similar to that at Gidginbung and based on the IP results is now considered to have been a near miss.
“LinQ is encouraged by the results of the survey and planning is underway to drill test this target,” Mr Donner said.
Elsewhere, the geological setting for the Gidginbung North porphyry target is analogous to the world-class Lepanto-Far Southeast (Philippines) and Wafi-Golpu (Papua New Guinea) epithermal/porphyry complexes.
In order to explain the current location of the Dam deposit relative to the Gidginbung high sulphidation gold deposit, LinQ interprets that the Dam deposit has been fault offset from an undiscovered blind Gidginbung North porphyry along the footwall fault. Planning is currently underway to test this exciting Gidginbung North Porphyry concept.
LNQ is steady at 35.0¢. Mkt cap $71.77M.
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