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Marquee Resources (ASX:MQR) - Executive Chairman, Charles Thomas
Executive Chairman, Charles Thomas
Source: Marquee Resources
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  • Marquee Resources (MQR) updates the market on the planned and continuing exploration at the Lone Star Copper-Gold Project in the United States
  • A 5000-metre drilling program is set to begin on November 15 to confirm the grade, width and tenor of the mineralisation and upgrade the resource to JORC 2012
  • Two 40-feet shipping containers have arrived at the project for storage and the first four drill pads have been prepared for drilling
  • Further, a LIDAR survey carried out by Pioneer Exploration has been completed and data is expected in the coming days
  • Marquee is down 1.85 per cent on the market with shares trading at 13.3 cents

Marquee Resources (MQR) has updated the market on the planned and continuing exploration at the Lone Star copper-gold project in the US.

On November 5, Marquee announced it would be acquiring an 80 per cent interest in Lone Star from Belmont Resources for C$250,000 (A$273,313).

Drilling

A 5000-metre drilling program is set to begin on November 15 to confirm the grade, width and tenor of mineralisation.

This drilling will also test for resource extensions to the east and south, and upgrade the current resource to JORC 2012 guidelines.

Drilling will be undertaken by Carson City in Nevada.

Buildings & drill pad preparation

Two 40-feet shipping containers have arrived at Lone Star and will be used for on-site drill core cutting, logging and storage.

Marquee has cleared the first four drill pads and has prepared them for drilling.

LIDAR survey

On November 5, Pioneer Exploration flew a LIDAR survey over the project and Marquee will receive the data in the coming days.

LIDAR surveys are undertaken to create high-resolution models of the ground elevation and produce a bare earth digital elevation model with structures and vegetation stripped away.

“It’s a credit to both the MQR and Belmont Resources teams, that so shortly after signing the agreement on the Lone Star Copper-Gold Project, we are now in a position where we will be starting the extensive drill campaign within the coming week,” Executive Chairman Charles Thomas said.

“We will be drilling 24/7 and working as quickly as possible to not only prove up the existing resource to Australian standards, but looking to increase the known size of the project too.”

Marquee was down 1.85 per cent on the market with shares trading at 13.3 cents at 12:04 pm AEDT.

MQR by the numbers
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