Loyal Metals (ASX:LLM) has confirmed a thick, near-surface ‘high-grade’ copper-gold-silver mineralised zone in initial drilling at the company’s Highway Reward open pit.
Assays from the first two drillholes targeted the eastern wall of the pit with continuity across the mineralised zone.
Key highlights include 145m at 1.50% copper equivalent, including 17m at 3.15% copper equivalent from drill hole 25HRDD001 and 86m @ 2.34% copper equivalent, incorporating high-grade internal lenses of up to 8.69% copper equivalent from drill hole 25HRDD002.
Loyal notes that the thickness, continuity, and shallow depth of the mineralisation in these two holes supports the potential definition of a large, bulk-minable copper-gold-silver system extending beneath the existing open pit.
These results support the potential for a new development opportunity that differs from the historical narrow-lens mining that was undertaken at Highway Reward.
Managing Director Adam Ritchie says that these results “confirm that Highway Reward hosts a broad, coherent copper-gold-silver system with a level of continuity that was not fully appreciated during past mining”.
“Intersecting thick mineralisation at shallow depth, in the wall and directly beneath the existing pit, supports our view that the system has meaningful scale and significant untested potential both at depth and along strike,” Ritchie says.
“Importantly, the consistency of grades across wide intervals strengthens the case for a bulk-minable development concept, which we believe represents a fundamentally different opportunity to that pursued historically at Highway Reward.”
Assay results from the third hole are pending and will provide the company with additional data on the continuity of the mineralised zone intersected in the first two holes.
Loyal Metals is also awaiting the results of its high-resolution ground geophysical surveys, as previously reported. Once these results are received, they will be integrated with the new drilling data and processed though VRIFY’s DORA platform to generate additional targets and identify concealed mineralised corridors, leading to an expanded drilling program.
Loyal Metals is an exploration company with a host of projects in North America and Australia.
Write to Amy Rotman at Mining.com.au
Images: Loyal Metals
