LinQ Reports 21m at 2.72g/t Au Eq and $15.4M Placement Boost for Gilmore Project

Exploration Momentum Builds at Gilmore

LinQ Minerals Limited (ASX – LNQ) has delivered a robust quarterly update for the period ending 31 December 2025, showcasing encouraging exploration results from its Gilmore Gold-Copper Project in New South Wales. The company’s ongoing drilling programs at the Gidginbung and Dam deposits have returned significant wide and high-grade gold and copper intercepts, reinforcing the economic potential of this underexplored region.

Drilling at Gidginbung, a historically productive high-sulphidation epithermal gold system, revealed standout intercepts such as 21 metres at 2.72 grams per tonne gold equivalent (Au Eq) and 31 metres at 2.46 g/t Au Eq, extending mineralisation well beyond the existing open pit boundaries. These results mark the first exploration activity at Gidginbung in over two decades, highlighting the deposit’s continuity both along strike and down dip.

Maiden Drilling at Dam and Mandamah

LinQ also commenced maiden drilling campaigns at the adjacent Dam and Mandamah deposits. At Dam, located roughly 600 metres east of Gidginbung, initial assay results post-quarter include impressive intercepts such as 144 metres at 1.0 g/t Au Eq and 142 metres at 1.01 g/t Au Eq, confirming a thick, continuous zone of gold-copper mineralisation over a 300-metre strike length. This deposit remains open at depth and along strike, offering substantial upside potential.

The Mandamah deposit, situated in the Central Zone of the Gilmore Project, saw its first drill hole completed to 350 metres depth, designed to test the continuity of higher-grade mineralisation. Assay results are awaited, but the program underscores LinQ’s commitment to systematically exploring the broader mineralised corridor that stretches over 16 kilometres and includes several advanced prospects.

Capital Raise to Accelerate Growth

To support its aggressive exploration agenda, LinQ successfully completed a heavily oversubscribed institutional placement, raising $15.4 million before costs. This capital injection bolsters the company’s cash reserves to approximately $20 million, providing a strong financial foundation to accelerate drilling activities across its Southern and Central Zones. The placement includes attaching options exercisable at $0.78, subject to shareholder approval expected in a general meeting scheduled for late March.

Executive Chair Clive Donner emphasised the significance of these developments, noting that the phase 1 drilling results at Gidginbung have exceeded expectations and, combined with the Dam results, substantially enhance the economic outlook for the Southern Zone. Metallurgical sampling is underway to further refine the project’s development potential.

Strategic Positioning in a Premier Gold-Copper Province

The Gilmore Project, spanning approximately 597 square kilometres within Australia’s Lachlan Fold Belt, is strategically positioned in a world-class gold-copper province. It hosts a global mineral resource estimate of over 3.7 million ounces of gold and 1.2 million tonnes of copper across multiple deposits. LinQ’s extensive tenement holdings and methodical exploration approach position it as a key player in this prolific region, with significant brownfield and greenfield opportunities ahead.

Looking forward, LinQ plans to continue drilling to expand known mineralisation, test priority targets along the six-kilometre mineralised corridor, and advance metallurgical studies. These efforts aim to underpin future assessments for potential open pit development and unlock value for shareholders.