Labyrinth Resources (ASX: LRL) has reported further ‘high grade’ gold intersections of up to 43.06g/t Au following drilling operations at multiple lodes within its Labyrinth Gold Project in Quebec, Canada.
These newly generated results are expected to underpin an upcoming conversion of the project’s 479,000oz foreign resource to JORC-compliant status.
The company notes that drilling encountered ‘significant’ width proximal to localised high-grade zones, with results including:
- Hole LABU-22-08 (Boucher): 2.75m @ 7.25g/t Au from 239m, incl.
- 1.0m @ 18.43g/t Au
- Hole LABU-22-09 (Talus): 3.65m @ 5.41g/t Au from 30m, incl.
- 0.3m @ 43.06g/t
- Hole LABU-22-12 (McDowell): 0.3m @ 26.86g/t Au from 90m
- Hole LABU-22-14 (Boucher): 16.65m @ 0.41g/t Au from 309m
Labyrinth confirms that the results gathered support the existence of ‘high-grade’ gold in discrete gold veins within the broader intervals across 1.6km of strike.
Addressing the results, Labyrinth Gold Chief Executive, Matt Nixon, said: “Drilling continues to return outstanding results with both width and grade, giving us every confidence in the upcoming JORC Resource.
Importantly, we are intersecting high-grade gold in the five individual lodes as well as outside the currently modelled zones.
“we are intersecting high-grade gold in the five individual lodes as well as outside the currently modelled zones”
Work on the Resource is well advanced and on track for release in the coming quarter.
As this is being completed, we will ramp up our firstly surface drilling program with the aim of expanding the known mineralisation below the modelled areas, setting us up for further growth beyond the maiden Resource.
This program will target depths of up to 700m below surface and drill through the full sequence of known gold lodes, as well as identify potential new zones across the significant 1.6km in strike.
We are seeking to demonstrate the continuity of high-grade mineralisation at depth, having only just scratched the surface of a highly prospective large-scale gold system in the prolific Abitibi Belt.”
The company also notes that it has engaged consultants RSC Mining and Mineral Exploration to support work for the maiden JORC Resource, which is expected for delivery in the September 2022 quarter.
In addition, Quebec surface drilling specialists Diafor have been engaged to commence a 3,000m drilling program to target ‘significant’ mineralisation extensions to depths of 400m below the current resource.
Planned surface holes (green) targeting mineralisation up to 700m below surfaceThe Labyrinth Gold Project is located within the Abitibi Greenstone Belt in Canada, and has been subject to very limited exploration since production ceased in the early 1980’s.
The project boasts an existing non-JORC-compliant historic NI43-101 resource of 2.1Mt @ 7.1g/t for 479,000oz of gold, including 570,300t at 6.52g/t for 119,500oz in the measured and indicated category.
Images: Labyrinth Resources Limited
