LinQ Minerals hits 11.97g/t gold in first drilling at historic Gidginbung play

• LNQ hits 11.97g/t gold at Gidginbung in the 100% owned Gilmore project in NSW
• Region home to multiple large-scale mines like Cadia and Cowal
• Additional assays pending and drilling ongoing

Special Report: LinQ Minerals has recorded the strongest gold grades in 25 years after its maiden drilling at the brownfields Gidginbung prospect of the Gilmore project in NSW returned up to 5m at 11.97g/t.

The Gilmore project with a resource of 516Mt is in the Lachlan Fold Belt, a region recognised as Australia’s premier porphyry gold-copper province home to multiple large-scale operating mines.

LinQ Minerals (ASX:LNQ) said Gilmore hosted the full suite of the Macquarie Arc intrusive gold-copper systems, similar to the nearby Cadia, Cowal and Northparkes mines.

The company holds ~597km2 of tenements with a 60km belt of +20 known prospects and six mineral deposits.

It’s an extensive tenement package that positions LNQ as a major player in the region offering advanced brownfield and greenfield opportunities for copper-gold porphyry and epithermal gold deposits.

Notable intercepts from the initial RC drilling program include:

• 21m at 2.63g/t Au and 0.07% Cu from 149m, including 3m at 9.07g/t Au and 0.31% Cu;
• 31m at 2.31g/t Au and 0.12% Cu from 176m, including 5m at 11.97g/t Au and 0.57% Cu;
• 20m at 1.77g/t Au and 0.53% Cu within 52m at 0.84g/t Au and 0.24% Cu from 102m;
• 24m at 1.04g/t Au and 0.11% Cu, and 13m at 1.0g/t Au and 0.15% Cu both within a broader intercept of 82m at 0.73g/t Au and 0.10% Cu from 102m; and
• 49m at 0.70g/t Au and 0.07% Cu from 128m.

The company is highly encouraged by the results which show that the system remains open along strike both north and south and also down dip.

Follow up drilling in the works

In addition to the RC drilling, five diamond tail holes have been completed at Gidginbung with assays pending. The diamond tails will also provide suitable samples for additional metallurgical testwork.

More drilling is planned but in the meantime drilling is underway at the adjacent Dam porphyry copper-gold deposit around 1km east of Gidginbung.

“Our maiden drilling program at the brownfields Gidginbung Gold Project has delivered consistent shallow, high grade and wide intercepts,” executive chair Clive Donner said.

“Results interpretation is currently underway which will guide the next phase of our exploration program at Gidginbung.

“In parallel we have already commenced drilling at the nearby Dam porphyry copper-gold deposit.

“The gold price continues breaking all-time highs and LinQ Minerals has significant leverage to both gold and copper metals, already hosting a global JORC MRE of 516Mt containing ~3.7Moz gold and ~1.2Mt copper.

“We expect significant news flow in the near term from the additional Gidginbung assays and the drill program currently underway at the Dam.”

This article was developed in collaboration with LinQ Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.