LinQ Minerals has reported a significant 144m intercept grading 1.0g/t gold equivalent at The Dam, near its Gidginbung open pit in New South Wales, confirming continuous high-grade mineralisation over a 300m strike. Further assay results are pending, underscoring the potential of the Gilmore Project's southern zone.
- 144m @ 1.0g/t AuEq intercept at The Dam
- Extension of shallow gold and copper mineralisation near Gidginbung open pit
- Continuous high-grade mineralisation over 300m strike confirmed
- Pending assay results from three additional holes at The Dam
- Gilmore Project hosts 516Mt JORC resource with ~3.7Moz gold and ~1.2Mt copper
Significant Step-Out Drilling Success
LinQ Minerals Limited (ASX, LNQ) has announced a major breakthrough in its ongoing exploration at the Gilmore Project in New South Wales, with a standout drill intercept of 144 metres grading 1.0 grams per tonne gold equivalent (AuEq) from 84 metres depth at The Dam, located just 600 metres west of the existing Gidginbung open pit. This result, from hole TDRCD001, extends the known thickness of shallow gold and copper mineralisation and confirms a continuous high-grade zone exceeding 100 gram-metres AuEq over a 300-metre strike length.
Context Within the Gilmore Project
The Gilmore Project is a substantial porphyry gold-copper system situated within the Macquarie Arc province, a region renowned for hosting some of Australia's largest and most productive mines. LinQ’s extensive tenement package spans approximately 597 square kilometres and includes multiple deposits and prospects along a 60-kilometre belt of known mineralisation. The project’s global JORC Mineral Resource Estimate stands at 516 million tonnes containing roughly 3.7 million ounces of gold and 1.2 million tonnes of copper, positioning LinQ as a significant player in the region.
Drilling Program and Results
The recent drilling campaign focused on the southern zone of the Gilmore Project, targeting extensions of the Gidginbung and The Dam epithermal and porphyry systems. The step-out hole TDRCD001 was drilled 110 metres south along strike from a previous intercept of 167 metres at 1.87g/t AuEq, successfully intersecting a broad zone of mineralisation before reaching the Dam Footwall Fault, which marks the western boundary of the deposit.
All four holes drilled at The Dam intersected visible porphyry-related quartz-sulphide veining, indicative of robust gold and copper mineralisation. While only TDRCD001 assay results have been released so far, the company expects to announce results from the remaining three holes shortly, which could further define the extent and grade of the deposit.
Strategic Implications and Next Steps
Executive Chair Clive Donner expressed enthusiasm about the results, highlighting the strategic importance of The Dam’s proximity to the Gidginbung open pit and the potential for expanding the resource base. The southern zone’s consistent high-grade intercepts, combined with the extensive tenement holdings, provide LinQ with significant leverage to both gold and copper markets.
Follow-up drilling is planned to continue in the coming months, aiming to test both along strike and at depth. The company’s methodical approach, including diamond core tails for metallurgical sampling, suggests a clear pathway towards advancing the project towards development.
Broader Market and Exploration Outlook
These results reinforce the Gilmore Project’s standing as a major porphyry gold-copper system within a world-class mining province. With commodity prices for gold and copper remaining robust, LinQ’s expanding resource base could attract increased investor interest and potentially pave the way for future partnerships or development financing. However, as with all exploration projects, pending assay results and further drilling will be critical to confirming the full scale and economic viability of the mineralisation.
Bottom Line?
LinQ’s latest drill results at The Dam underscore the growing potential of the Gilmore Project, with upcoming assays set to shape the next phase of exploration and development.
Questions in the middle?
- What will the assay results from the remaining three holes at The Dam reveal about the deposit’s continuity and grade?
- How might these new intercepts impact the current JORC Mineral Resource Estimate for the Gilmore Project?
- What are LinQ’s plans for advancing metallurgical testing and feasibility studies following these drilling results?