Matt Nixon (CEO) and Andrew Chirnside (Chief Geologist) from Labyrinth Resources (ASX:LRL) joined us to discuss their exciting new exploration announcement.
- Maiden 5,000m underground diamond drilling program has commenced at the flagship Labyrinth Gold Project in Canada
- Labyrinth hosts a non-JORC compliant NI43-101 resource of 2.1Mt at 7.1g/t for 479,000oz of gold
- The program is aimed at converting the resource to JORC status and targeting high-grade extensions to known mineralisation at the historic mine, where very limited exploration has taken place since the 1980s
- Drilling will follow up on high-grade historical intersections of the significantly prospective Boucher lodes, which include results such as: o 2.39m @ 26.9 g/t Au from 218m o 1.45m @ 32.9 g/t Au from 490m o 2.4m @14.6 g/t Au from 227m
- Agreement reached with nearby assay laboratory for prioritised Labyrinth results