LCL Resources (ASX:LCL) reports that the latest results from a recently completed field program at its Imou copper-gold porphyry project in Papua New Guinea have expanded the mineralisation in the area.
The $24.62 million market capitalisation company reports the field program returned ‘exciting’ trench results, including from trench FPR23TR001 with 32m @ 0.49% copper (Cu) and 0.46g/t gold (Au); and trench FPR23TR002 with 120m @ 0.27% Cu and 0.23g/t Au, including 26m @ 0.49% Cu and 0.41g/t Au from 26m.
LCL notes that mineralisation remains open in the trenches, with outcropping grab samples further east showing the potential to expand on these results.
The company’s limited Q2 2023 field program at Imou was intended to upgrade the potential of the porphyry project by demonstrating extensions and locating ‘higher-grade’, near-surface copper-gold porphyry mineralisation.
This first fieldwork by LCL at Imou has extended mineralisation over 300m to the east.
Continuous trench sampling was conducted in creek exposure and ridges. LCL says the copper-gold mineralisation in both trenches is associated with an intra-mineral diorite porphyry and may represent a different fertile copper-gold intrusive that occurs on the eastern side of the Imou Intrusive Complex.
LCL adds that this new fertile porphyry phase warrants further investigation.
The Imou Project is prospective for copper-gold porphyry and epithermal gold mineralisation.
LCL Resources is an exploration and mining company that holds 3,890km-square of exploration titles in 5 regions of Papua New Guinea. The company’s assets are considered prospective for copper, gold, and nickel.
As of 30 June 2023, the company had $5.8 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: LCL Resources