Loyal Metals (ASX:LLM) has intersected 132.5m of massive pyrite and copper sulphides in the first drillhole in over 20 years from the Highway Reward Copper-Gold Mine in Queensland.
Half-core samples are now being collected and delivered to the laboratory to determine copper, gold, silver, zinc, and lead grades, in a multi-element suite, with results expected by the end of the Q4 2025.
A second drillhole is also underway to further delineate the massive sulphide zone from an opposing location, maintaining 25m from the eastern wall of the open pit.
The drilling program is focused on targeting under-explored, near-surface gold and unmined copper-gold zones near the eastern wall of the open pit.
Principal Geologist Dr Simon Beams says the mineralisation along the eastern pit wall was known but under-explored and mostly unmined.
“I’m also pleased to see the discovery of a new shallow mineralised zone, demonstrating the immense potential for further discoveries along the property’s east-west trend,” Beams says.
Managing Director Adam Ritchie says due to gold being overlooked in earlier evaluations and the commodity prices of 1997, previous exploration efforts did not adequately define the zone.
“This has made our current campaign a unique blend of resource definition and genuine exploration drilling – unchartered territory until now,” Ritchie says.
“The first hole has delivered on this promise, exceeding expectations by revealing additional features that will strengthen our geological models.
“Looking ahead, our second drillhole will target the eastern wall from an opposing angle, enhancing our ability to define the full scope of this rare near-term opportunity.”
Loyal Metals has more than $5.8 million in funding and says it is well-positioned to unlock Highway Reward’s unmined copper-gold potential.
The Highway Reward Mine has produced 3.65 million tonnes @ 5.7% copper and 260,000 tonnes @ 4.5 grams per tonne gold.
Loyal Metals is a critical minerals and technology-focused company that is discovering and developing assets prospective for copper and lithium.
Write to Aaliyah Rogan at Mining.com.au
Images: Loyal Metals
