Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Trump considers tax hike on Americans making $2.5...
GOP senators: Congress should vote on Trump’s potential...
White House highlights over $2B in savings from...
GOP talk on millionaire tax hike ‘makes no...
Trump’s first vice president urges his old boss...
Department of Justice opens criminal investigation into NY...
Trump claims ‘I don’t know her’ and ‘listened...
Rubio just got an additional job in Trump’s...
OpenAI’s Sam Altman thanks Sen John Fetterman for...
Former Supreme Court Justice David Souter dead at...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Assays up to 63g/t Gold and 3.2% Copper Highlight Immense Exploration Upside

by admin August 6, 2024
August 6, 2024
Assays up to 63g/t Gold and 3.2% Copper Highlight Immense Exploration Upside

Labyrinth Resources Limited (ASX: LRL) (‘Labyrinth’ or ‘the Company’) is pleased to report highly promising gold and copper assays from soil sampling and rock chips at its Comet Vale Project in WA (see Figure 1).

More than 500 soil samples and 11 rock chip samples were collected. These results, combined with historic data, have defined several compelling drilling targets outside the mine area at Comet Vale.

In July 2024, Labyrinth entered into an option to acquire 100% of the property from Sand Queen Gold Mines Pty Ltd (‘SQGM’). The additional 49% interest has been the key to commencing dedicated exploration activity. Labyrinth intends to use some of the proceeds of its recent successful capital raising to undertake further exploration work with the aim of refining the targets ahead of a drilling campaign.

Labyrinth Chief Executive Jennifer Neild said: “We have strategically positioned ourselves in the prolific Goldfields region of Western Australia, with proven gold assets that have the potential for further high-grade mineralisation.”

“These assays are indicative of this potential. We are seeing cohesive trends in both primary and associated indicator elements. The overlap of these anomalies have added weight to positions of interpreted faults and have established several high priority target areas.”

“We now have extensive data that Comet Vale may host a large mineralised system with areas of high-grade gold and potentially copper.”

Details of sampling results:

The two campaigns of soil sampling were the first full geochemical analysis completed at Comet Vale. On the eastern side of the highway, a small number of rock chips were taken to support mapping observations. Many of the higher grades exist around Long Tunnel Prospect, where shallow tungsten and gold workings exist. It is unknown the extent of activites, refer to Table 2 for a summary.

High Au, Cu, Co, Ag and Ni rock chips (Table 1) included:63.1g/t Au, 3.27 % Cu and 59g/t Ag (SE of Long Tunnel);13.9g/t Au, 0.35% Cu and 0.36 % Ni (South of Long Tunnel);2.62g/t Au in a 3m wide, N-S quartz reef, within porphyry and ultramafic schist (Figure 6);2.10g/t Au, 17.57% Fe and 1.14% S (gossan SW of Long Tunnel); and0.25% Cu, 0.38% Ni, 0.04% Co and 1.4g/t Ag (New gossan, chalcopyrite and bornite sighted).“Golden Triangle” – High Au, Cu and W are concentrated at the cross-section of the Rambo Trend and Long Tunnel/Lake View Shear/Quartz Reef (see Figure 2 and Table 2 for description of Long Tunnel).Geochemistry suggests late NE trending faults are a control on mineralisation. Potentially focusing 2nd generation Au bearing veins along these later structures causing wide, intercepts of mineralisation (see Figure 2 and Figure 3). Several samples of elevated lithium (>100ppm) proximal to Lake View/Long Tunnel trend (see Figure 7). More anomalies may exist, but sampling of Lithium was limited to this sampling program and not historic data.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Graphite Market Update: H1 2024 in Review
next post
Biomarker Technologies for Cardiovascular Health

You may also like

WGC: Gold Demand Reaches Highest Q1 Level Since...

May 1, 2025

First Helium Spuds 7-30 Undeveloped Light Oil Well...

January 22, 2025

Quetzal Copper Announces Closing of Financing

February 28, 2025

Management’s Discussion and Analysis of Financial Results

November 15, 2024

Garrett Goggin: Is Warren Buffett Coming for Newmont?

March 11, 2025

World Copper Arranges $1.5 Million Financing

November 27, 2024

CWENCH Hydration Strengthens its Retail Footprint in Western...

February 4, 2025

Radiopharm Theranostics Receives FDA IND Approval for Phase...

July 23, 2024

Crypto Market Recap: Trump’s US$2 Billion Stablecoin Deal...

May 3, 2025

13 Canadian Crypto ETFs

January 3, 2025

Recent Posts

  • Trump considers tax hike on Americans making $2.5 million or more per year
  • GOP senators: Congress should vote on Trump’s potential Iran nuclear deal
  • White House highlights over $2B in savings from DEI cuts during Trump administration’s first 100 days
  • GOP talk on millionaire tax hike ‘makes no sense,’ Trump White House alum says
  • Trump’s first vice president urges his old boss against raising taxes on wealthy Americans

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (712)
    • Investing (2,058)
    • Politics (2,553)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.