Marquee Resources (ASX:MQR) - Executive Chair, Charles Thomas
Executive Chair, Charles Thomas
Source: Marquee Resources
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  • New results from drilling at Marquee Resources’ (MQR) Lone Star deposit in Washington State, US has identified a new high-grade gold zone
  • Grades from the latest batch include up to 5.3 per cent copper, 11.7 g/t gold and 16.8 g/t silver
  • Marquee believes the assays indicate the potential to define further high-grade, structurally controlled gold mineralisation that wasn’t a focus in historical programs
  • So far, 20 holes out of the planned 43 holes have been completed and this phase of drilling is expected to wrap up before the end of the current quarter
  • Shares were trading down 6.82 per cent to 10.3 cents at 12:18 pm AEDT

Marquee Resources (MQR) has identified a new high-grade gold zone within the Lone Star deposit in Washington State, US.

The company received a fresh batch of results from its 43-hole, 6000-metre drilling program.

The program was designed to validate the historical drill hole database and resource model, deliver a JORC-compliant mineral resource estimate and test for extensions to the historical resource.

Results from LS21-007 include 17.7 metres at 1.6 per cent copper, 2.8 grams of gold per tonne (g/t) and 5.9 g/t silver from 107.9 metres including 4.1 metres at 5.3 per cent copper, 1.5 g/t gold and 16.8 g/t silver.

Marquee said LS21-007 gave it a better understanding of the nature and timing of the polymetallic copper-gold-silver mineralisation of the Lone Star deposit.

Drill hole LS21-006 intersected serpentinite and rhyolite hosted mineralisation with abundant sulphides. Results include 11.9 metres at one per cent copper, 2 g/t gold and 3.3 g/t silver from 99.7 metres including 1.6 metres at 2.1 per cent copper, 11.7 g/t gold and 7 g/t silver.

Marquee said the results suggest there’s potential to define further high-grade, structurally controlled gold mineralisation that wasn’t a focus historically but will be in upcoming work programs.

“These latest results are somewhat unexpected but extremely encouraging considering they are from an area of the deposit with modest historical results and no historical gold assays,” Executive Chair Charles Thomas said.

“We are excited to build on what has been a great start to the program and our understanding of the mineralised system grows with every hole.”

So far, 20 holes have been completed in this drilling program and the company has now received assays from the first nine holes. The program is expected to be completed before the end of the current quarter.

Shares were trading down 6.82 per cent to 10.3 cents at 12:18 pm AEDT.

MQR by the numbers
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