LinQ Minerals finds possible large copper-gold system at Gilmore project

what happened

According to smallcaps.com.au, LinQ Minerals says its first drill hole at the Gidginbung South target may have intersected a potentially large mineralised system. The target sits within the Gilmore copper-gold project in the Macquarie Arc of New South Wales. Visual review of the core shows epithermal and porphyry-style vein mineralisation from 321 metres down to the end of the hole at 750.3 metres, beneath younger cover rock, across a 429-metre mineralised zone.

The find lies 800 metres south of the known southern edge of similar mineralisation at the Gidginbung deposit, and roughly 1.6 kilometres southwest of porphyry mineralisation at the Dam deposit. The hole remains open in every direction. Final assay results, expected within two months, will determine its economic significance. The company plans three more holes, each up to 1,000 metres deep, at Gidginbung South.

Technical director John Holliday said the hole could prove a major breakthrough. He suggested the core may be part of a large high-sulphidation epithermal-porphyry system, with Gidginbung and Dam being smaller components of it.

why it matters

Gilmore already has a resource of 516 million tonnes containing 3.7 million ounces of gold and 1.2 million tonnes of copper, so confirming a larger system could affect how the project is valued. This is still early-stage exploration, and without final assays the economic value is unclear, so market reaction will likely depend on the laboratory results.

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