- Labyrinth Resources is a junior mining company with an underexplored gold asset on the Abitibi Gold Belt in Quebec and a highly prospective multi-commodity project in the Yilgarn Craton of Western Australia.
- Quebec is a globally recognized tier 1 mining jurisdiction with strong government and community support.
- The project’s current inferred mineral resource of 3 million tons (Mt) @ 5 grams per ton (g/t) for 500,000 ounces (oz) (at 3 g/t.meters cut-off) with a notable high-grade component of 150,000 oz @ 10 g/t (above 6 g/t cut-off) and high grades of up to 62.5 g/t and widths up to 16 meters received across five individual lodes
- The company’s project is surrounded by prolific mining companies with multi-million-ounce gold deposits, with testing of the Labyrinth deposit barely scratching the surface in comparison to the deep nature of many Abitibi gold operations.
- Comet Vale lies within the prospective Menzies mining area, well-located on the Goldfields highway 100km north of Kalgoorlie.
- There is significant high-grade, multi-lode gold production across the tenement package and under-explored multi-commodity potential
- A combined open pit and underground Indicated and Inferred Minerals Resource of 619,000t at 4.8g/t for 95,710oz
- The Comet Vale UG resource is estimated to be 56,233oz at 7g/t (2.5g/t cut-off) and the open pit resource as 39,477oz at 3.3g/t (0.5g/t cut-off)
- The mineralised shear is open at depth and north and south of the the 5km
- Multiple lodes on the tenement package in historic workings have not been explored below 50-100m
- A management team with a proven track record of success in the natural resources industry adds value to the company. It creates confidence in its ability to fully capitalize on its projects.
Gold is a long-time favorite store-of-value asset to hedge against global turmoil. Investors have several ways to invest in the precious metal, whether buying bullion, investing in gold ETFs, or buying stock in mining companies. While there are gold deposits worldwide, Australia and Canada remain strong producers of the metal, ranking as the world’s second and fifth-largest gold producers, respectively.
Labyrinth Resources (ASX:LRL) is a junior mining company with underexplored gold assets in tier 1 jurisdictions of Quebec and Western Australia, including the Labyrinth Gold project located in the heart of the Abitibi Gold Belt. The asset has not received significant exploration or development attention for more than 15 years, creating tremendous upside potential.Labyrinth Resources is exploring its Comet Vale property in Western Australia, which has historically produced over 180,000 ounces (oz) of gold with mining only going to a 250-meter depth. Multiple gold mineralized trends are present across the tenure as well as significant nickel and copper anomalies that have not been followed up. Recent work done by Ardea Resources (ASX:ARL) shows the project is prospective for significant Lithium-Caesium-Tantalum (LCT) pegmatites. The Walter Williams formation hosts Ardea’s KNP containing 854Mt at 0.71 percent nickel (Ni) and 0.045 percent copper (Co). High-grade Ni laterite intersections with proximal high Cu rock chips suggest there is nickel sulphide potential on the Comet Vale property.