- Marquee Resources (MQR) intersects a wide mineralised envelope at its 80-per-cent owned Lone Star copper-gold project in Washington State
- The phase one drilling program aimed to validate the project’s historical drill hole database and test for extensions to its historical resource
- The company drilled 46 holes for over 7800 metres, returning results including 10.7 metres at 2.4 per cent copper and 1.0 grams of gold per tonne
- Marquee says once it receives the remaining assays, it will work towards compiling a maiden JORC 2012 resource estimate at the Lone Star deposit
- Marquee Resources is up 2.15 per cent and trading at 9.5 cents at 1:30 pm AEST
Marquee Resources (MQR) has intersected a wide mineralised envelope at its 80-per-cent owned Lone Star copper-gold project in Washington State, USA.
The company has now wrapped up its phase one program, which intersected highly mineralised zones. The drilling aimed to validate the historical drill hole database at the project and test for extensions to its historical resource.
Marquee drilled 46 holes for 7888 metres, returning results including 10.7 metres at 2.4 per cent copper and 1.0 grams of gold per tonne (g/t gold) from 111.6 metres, including 5.2 metres at 4.1 per cent copper and 1.9 g/t gold.
The company said the deposit was interpreted to have elements of structural and stratigraphic control, with an overprinting porphyry copper system.
“We’ve been drilling 24/7 at Lone Star for seven months now, so we’re pleased to have successfully completed the phase one drill program safely and without incident,” Marquee Executive Chairman Charles Thomas said.
“While we await the final results, we will continue interpreting the geology and we will progress the resource modelling studies as quickly as possible upon receipt of final results.”
Marquee said once it had received its final pending assays, it would work towards compiling a maiden JORC 2012 resource estimate at the Lone Star deposit.
The results are expected to be returned within the next four weeks.
Marquee Resources was up 2.15 per cent and trading at 9.5 cents at 1:30 pm AEST.