Announcement Date: 2022-07-25
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Labyrinth Resources Limited
Project name: Labyrinth
Location: Canada
Commodities: Gold
Highlight: Drilling results incl. 2.2m @ 10.67g/t Au from 143.5m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Labyrinth Resources Limited (ASX: LRL) (‘Labyrinth’ or ‘the Company’) is pleased to announce that the first hole of the 3,000m maiden surface exploration program at its flagship Labyrinth Gold Project in Quebec, Canada has delivered a high-grade result grading up to 44g/t from significant 125m down dip of the currently defined Front-West lode. Assays are pending for the remainder of hole LABS-22-01A and for all of LABS-22-02, with drilling of LABS22-03 underway. Quartz and pyritic mineralisation characteristic to Labyrinth has been observed across multiple lodes, indicating the mineralisation extends up to ~375m down plunge and to a depth of ~550m below surface. Labyrinth Chief Executive Matt Nixon said: “To hit 44g/t in the first hole is an outstanding start to our surface drilling program. And we are highly encouraged by what we see in the second and third holes.
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