Marquee Resources Limited (“Marquee” or “the Company”) (ASX:MQR) is pleased to announce the latest results from the Lone Star Copper-Gold Project, Washington State, USA (“Lone Star” or “The Project”). Results from this batch of assays continue to intersect a wide mineralised envelope (up to 80m @ >0.5% Cu) with high-grade mineralised zones (~5-10m @ >1% Cu) within the core of the system.
  • Phase 1 drilling program has now been completed for a total of 46 drill holes for 7,888 meters with final assays still pending.
  • Assays for significant zones of high-grade copper and gold mineralisation intersected within broader zones that include:
    • 10.7m @ 2.4% Cu & 1.0 g/t Au from 111.6m (incl. 5.2m @ 4.1% Cu & 1.9 g/t Au) (LS21-027)
    • 9.5m @ 1.3% Cu & 0.9 g/t Au from 230.7m (LS21-039)
    • 6.1m @ 1.4% Cu & 0.3 g/t Au (LS21-031)
    • 30.5m @ 0.9% Cu & 0.5 g/t Au from 25.6m (incl. 13.1m @ 1.5% Cu & 0.7 g/t Au) (LS21-030)
    • 35.1m @ 0.8% Cu & 0.3g/t Au from 41.2m (incl. 4.6m @ 2.1% Cu & 0.8 g/t Au) (LS21-022)
    • 70.7m @ 0.7% Cu & 0.4 g/t Au from 134.1m (incl. 3.4m @ 4.3% Cu & 14.9 g/t Au) (LS21-039)
    • 79.9m @ 0.6% Cu & 0.4 g/t Au from 97.5m (incl. 7.6m @ 1.3% Cu & 2.8 g/t Au) (LS21-022)
    • 58.2m @ 0.6% Cu & 0.3 g/t Au from 140.5m (incl. 5.2m @ 1.6% Cu & 0.9 g/t Au) (LS21-025)
    • 23.8m @ 0.7% Cu & 0.4 g/t Au from 157.6m (incl. 11.0m @ 1% Cu & 0.6 g/t Au) (LS21-031)
    • 25.3m @ 0.7% Cu & 0.2 g/t Au from 50.3m (LS21-024)
    • 24.4m @ 0.6% Cu & 0.3 g/t Au from 138.7m (LS21-023)
  • Upon final receipt of all assays the company will work towards compiling a maiden JORC 2012 resource estimate at the Lone Star deposit.
  • Resource modelling will continue with a focus on identifying an economic global resources with a high grade envelope identified in drill hole LS21-001 and LS21-002 which showed wide zones of high- grade copper mineralisation (up to 18.5% Cu) with significant elevated gold (up to 10.4g/t Au) and silver (up to 106 g/t Ag) values also received.
  • Multiple high grade zones of mineralisation intersected during the campaign to date include:
    • 44.2m @ 1.3% Cu from 65.8m (incl. 19.8m @ 2.4% Cu) (LS21-001)
    • 22.1m @ 1.15% Cu from 140.4m (incl. 8.5m @ 2.1% Cu) (LS21-001)
    • 15.54m @ 3.7% Cu & 1.8g/t Au from 48.3m (incl. 2.6m @ 18.5% Cu & 10.4g/t Au) (LS21-002)

The Phase 1 drilling program has now been completed and, upon receipt of final results and geological interpretation, the Company’s focus now turns to completion of a maiden Lone Star resource estimate.

Executive Chairman Comment:

Marquee Executive Chairman, Mr. Charles Thomas, commented: “We’ve been drilling 24/7 at Lone Star for 7 months now so we’re pleased to have successfully completed the Phase 1 drill program safely and without incident. While we await the final results we will continue interpreting the geology and we will progress the resource modelling studies as quickly as possible upon receipt of final results.”

“The results from the drilling program thus far continue to extend the historically defined NI 43-101 resource envelope so we look forward to working towards delivering a maiden JORC compliant resource for the Lone Star deposit.”

Figure 1: Cross-section 5428188N.

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This article includes content from Marquee Resources Limited (ASX: MQR), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.


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