LinQ Minerals Advances Gilmore Drilling with High-Grade Hits and $15.4M Placement

High-Grade Gold and Copper Confirmed Near Surface at Gidginbung

LinQ Minerals (ASX:LNQ) has reported some of its most compelling drill results to date from the Gilmore Gold-Copper Project, with hole GBRCD0131 delivering thick, high-grade gold intersections much closer to surface than previously anticipated. The standout intercepts include 31 metres at 2.19 g/t gold equivalent from 67 metres and a broader 95 metres at 2.14 g/t AuEq from 108 metres, including a 49-metre zone grading 3.78 g/t AuEq. These results not only confirm earlier historical drilling but also suggest the mineralised system extends further south and shallower than earlier models indicated.

This latest success builds on earlier impressive hits from the same phase 1 campaign, such as 21 metres at 3.03 g/t AuEq and 31 metres at 2.46 g/t AuEq, reinforcing the potential for resource expansion in the Southern Zone’s Gidginbung deposit. The company is methodically infill drilling and testing extensions to improve resource confidence, a critical step given the Southern Zone’s geological analogy to the prolific Cadia copper-gold complex.

Mandamah Drilling Confirms Continuity of Copper-Gold Mineralisation

Meanwhile, in the Central Zone, LinQ has reported a substantial 220-metre copper equivalent intercept (0.79% CuEq) from 99 metres depth in hole MDACD0012 at Mandamah. This result aligns closely with previous high-grade intercepts and confirms the continuity of a significant porphyry-style quartz-sulphide stockwork system. The Mandamah deposit is part of a 17-kilometre mineralised corridor that also hosts Estoril, Culingerai, and other prospects, all within a structure geologically comparable to the Northparkes copper-gold system.

Drilling momentum is accelerating here, with assays pending for recent holes and a maiden program underway at the nearby Monza prospect. The initial hole at Monza (MZACD003) reached a depth of 405 metres by quarter-end, designed to test extensions of previously reported high-grade zones, such as 150 metres at 1.62% CuEq including a 12.7-metre interval at 13.8% CuEq.

Dam Deposit Drilling Continues as Assays Awaited

LinQ has also recommenced phase 2 drilling at the Dam gold-copper deposit in the Southern Zone, completing six holes totaling 1,847 metres. This program aims to expand the higher-grade core identified in earlier drilling, which included intercepts around 140 metres grading approximately 1 g/t AuEq. Assay results for the recent campaign remain pending, but the ongoing activity reflects a sustained focus on resource growth across multiple targets.

Capital Raise Strengthens Balance Sheet to Fuel Exploration

Backing this aggressive drilling push, LinQ successfully raised A$15.4 million through a heavily oversubscribed institutional placement at A$0.55 per share, accompanied by free attaching options exercisable at A$0.785. This capital injection has bolstered the company's cash reserves to approximately $20 million post-placement, providing a solid runway for exploration activities throughout 2026.

The placement follows a series of strong market responses to LinQ’s drilling updates, including recent reports of 220m copper-gold hit at Mandamah and shallow high-grade gold-copper zone south of Gidginbung pit. The company’s balance sheet strength and drilling momentum position it well to systematically test and upgrade its resource base across its 597 km2 tenement package in New South Wales.

Exploration Strategy Anchored in Tier-One Geological Setting

LinQ’s Gilmore Project lies within the Lachlan Fold Belt’s Macquarie Arc province, a recognised hotbed for large-scale gold-copper deposits. The project hosts a global mineral resource estimate of 516 million tonnes containing approximately 3.7 million ounces of gold and 1.2 million tonnes of copper. The extensive tenement position and multiple advanced prospects provide a platform for both brownfield resource expansion and greenfield discovery potential.

With continued drilling underway and assay results pending from key targets such as Monza and Dam, the next few quarters will be critical in defining the scale and tenor of mineralisation across the project’s zones. The company’s ability to maintain a strong cash position while advancing multiple fronts simultaneously will be a key factor in sustaining exploration momentum.