Loyal Metals‘ (ASX:LLM) latest assay results confirm a ‘large’, continuous mineralisation copper-gold-silver volcanic-hosted massive sulphide (VHMS) system exists at its Highway Reward Copper-Gold Project in North Queensland.
Loyal Metals has revealed a VHMS system is under the eastern wall of the open pit. The copper-gold-silver system extends and further strengthens mineralisation that drilling intersected in holes one and two.
The third drilled hole returned 179 metres at 1.47% of copper equivalent. Multiple higher-grade copper-gold-silver zones were also identified, including 8m at 5.97% copper equivalent.
The company separately performed high‑density gravity survey inversions that suggest the system could extend “well below historic mining” levels with additional magnetotelluric, drone-based magnetics, and three-dimensional induced polarisation survey results that are imminent.
Loyal Metals has $5.6 million of funding for integrated geological interpretation and accelerating drill testing of high-priority copper-gold targets.
“The continuity of grades across wide intervals, combined with supporting geophysical evidence, reinforces our view that Highway Reward represents a fundamentally different opportunity to that pursued historically, with significant untested potential both at depth and along strike,” Managing Director Adam Ritchie says.
Loyal Metals is a resource exploration company with assets in Australia and North America.
Write to Richard Szabo at Mining.com.au
Images: Loyal Metals
