American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

High-Grade Gold and Copper Assays Open Up Immense Potential

by admin February 6, 2024
February 6, 2024
High-Grade Gold and Copper Assays Open Up Immense Potential

Labyrinth Resources Limited (ASX: LRL) (‘Labyrinth’ or ‘the Company’) is pleased to announce high-grade gold and coper assays from sampling in a new area at its Comet Vale Project in WA’s Eastern Goldfields.

Assays of 34 samples reveal very high grades of gold and copper as well as silver, cobalt and nickelThe samples span a ~3km corridor running north-south and located ~1.5km east of the Sand Queen gold mineThe results include:LCV0029: 129 g/t Au, 0.1% CuLCV0033: 39.1g/t Au, 6.3% Cu and 271 g/t AgLCV0028: 28.9 g/t Au, 3.0% Cu, 0.07% Co and 0.5% NiLCV0017: 3.6 g/t Au, 8.4% Cu and 9.2 g/t AgLCV0021: 8.5 g/t Au, 0.3% CuLC0032: 1.2% Ni and 0.06% CoElevated Au, Cu, Ni, Co, W, Bi, Zn and Li are indicative of a rich mineralogical systemNine of the samples ran significantly over limits of analysis method requiring secondary analysis of Au, Ag, Cu, Ni, Fe and CrComet Vale hosts a Resource of 619,000t @ 4.8g/t for 95,710oz; This sits around the Sand Queen Mine1In light of these outstanding results, Labyrinth intends to devise follow-up exploration; All options will be considered, including geophysics, further sampling and drilling

The particularly high-grade gold and copper grades highlight the under-explored potential of the Comet Vale tenements, most of which have never been exposed to modern exploration techniques.

A NNW-SSE trending corridor of interest has been defined from the recent samples. The corridor lies ~1.5km from Sand Queen Mine.

Labyrinth Chief Executive Jennifer Neild said: “We suspected that these samples would come back with high grade copper based on the primary and secondary minerals present, but these results are truly exceptional.

“Our strategy has been to go back to basics and to leave no stone unturned. Importantly, many of the mineralised samples lie outside previous work areas.

“The results clearly show the immense potential of Comet Vale, not just for gold but also for copper. Given that these were the first samples taken 1.5km from the mined trend and the fact that there has been no focused, modern exploration conducted there until now, we are extremely encouraged.

“As a result, we are moving quickly to devise the follow-up exploration program in this area.

“We are also awaiting assays from the recently completed 386-sample soil program on the western side of Comet Vale where multiple small pits exist”.

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
ARway.ai The Spatial Computing Platform to Present at Small-Cap Growth Virtual Investor Conference February 7th
next post
Zeni Resources

Related Posts

CLEO Appoints CRO to Manage U.S. Ovarian Cancer...

April 12, 2024

Here are the best and worst CAC 40...

November 15, 2024

My EVgo stock price forecast was accurate: here’s...

October 18, 2024

Gold and Nickel Exploration Update

April 10, 2024

Fortune Minerals Announces U.S. Government Funding to Accelerate...

May 17, 2024

Top 11 Countries by Rare Earth Metal Production...

August 30, 2024

Galan Secures Agreement with Glencore for Offtake &...

March 30, 2024

Progress Software shares up 6% after impressive Q3...

September 26, 2024

Eskay Mining and P2 Gold Agree to Merge,...

June 7, 2024

Why are Dollar Tree and Dollar General stocks...

September 21, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,209)
    • Investing (2,537)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved