Join our daily newsletter At The Bell to receive exclusive market insights
- Marquee Resources (MQR) receives its first batch of assay results from the Lone Star Copper-Gold Project in Washington State, USA
- Results come from the first two holes of a 42-hole diamond drilling program designed to validate historical holes and deliver a JORC compliant mineral resource estimate
- Overall, grades peaked at 18.5 per cent copper, 10.4g/t gold and 106g/t silver
- Results from a further five holes are currently being transported to the laboratory for analysis
- Marquee is up a healthy 24.1 per cent on the market with shares trading at 18 cents
Marquee Resources (MQR) has received its first batch of assay results from the Lone Star Copper-Gold Project in Washington State, USA.
Results come from the first two holes of a 42-hole, 6000-metre diamond drilling program designed to validate historical holes, deliver a JORC compliant mineral resource estimate and test for extensions to the historical resource.
The first hole, LS21-001, was drilled to a depth of 230.1 metres with two main zones of chalcopyrite-pyrite mineralisation observed in the drill core.
Results include 44.2 metres at 1.3 per cent copper from 65.8 metres including 19.8 metres at 2.4 per cent copper and 22.1 metres at 1.15 per cent copper from 140.4 metres including 8.5 metres at 2.1 per cent copper.
The second hole, LS21-002, was drilled to a depth of 224.3 metres with dispersed polymetallic sulphide mineralisation encountered from 48.3 metres to 62.3 metres.
Results include 15.54 metres at 3.7 per cent copper, 1.8 grams of gold per tonne (g/t) and 23g/t silver from 48.3 metres including 2.6 metres at 18.5 per cent copper, 10.4g/t gold and 106g/t silver.
Results from a further five holes are currently being transported to the laboratory for analysis.
Drilling is continuing and Marquee expects it to be completed in Q1 2022.
Executive Chairman Charles Thomas said the company is pleased with the results encountered so far.
“We are delighted with the high-grade results we have received from the first two drill holes of this program. Multiple, thick zones of mineralisation have been intersected with some exceptional grades being observed,” Mr Thomas said.
“The results have confirmed the outstanding opportunity that Lone Star represents and the presence of high-grade gold and silver further adds to the potential of this exciting project.”
Marquee was up a healthy 24.1 per cent on the market, with shares trading at 18 cents at 11:50 am AEDT.
