In an exploration update that was published in September, LinQ Minerals (LNQ.AX) announced assay results from its drill program on the Monza prospect, part of its Gilmore project in New South Wales. LinQ has already outlined a total resource of 3.7 million ounces of gold as well as just over 2.5 billion pounds of copper although the majority of the resource is low-grade with 0.2% copper and 0.2 g/t gold resulting in a 0.4% copper-equivalent grade.
That’s why the recent Monza drill results are interesting as some of the freshly drilled holes carry a substantially higher grade than the average resource grade. 113 meters of 0.71% copper-equivalent (starting at just 33 meters down-hole)and 193 meters of 0.45% copper-equivalent have the potential to further boost the resource and the grade profile at Gilmore, especially as previous holes already returned 150 meters of 1.62% copper-equivalent and 136 and 226 meters of 0.70% copper-equivalent.
Even more interesting is the fact that the mineralization remains open in all directionsa t this prospect, including an untested 1 kilometer long strike length between Monza and Estoril. This doesn’t really come as a surprise as Monza and Estoril are located along a 17 kilometer long mineralized porphyry corridor with known copper and gold occurrences.
Disclosure: The author has no position in LinQ Minerals. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
