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Highlights
- Labyrinth Resources ramps up drilling activities at Comet Vale.
- Latest gold drill results highlight significant grades in Cheer and Sovereign prospects.
- New exploration manager and drill rig added to support aggressive drilling plans.
Labyrinth Resources (ASX:LRL) has released its latest gold drilling results from the Comet Vale project, sparking increased interest in its Western Australia operations. Recent exploration efforts at the site have expanded the identified zones of high-grade gold, leading to a surge in excitement over the Cheer and Sovereign prospects.
The company’s ongoing infill drilling campaign at Cheer has delivered results that align closely with historical data, enhancing understanding of the near-surface gold potential in the area. Two notable drill intervals from Cheer include:
- Fourteen meters grading 4.9g/t gold from a depth of thirty-two meters.
- Two meters grading 8.5g/t gold from a depth of eleven meters.
Although these results demonstrate near-surface mineralization, Labyrinth has clarified that there is no JORC-compliant resource estimate for Cheer at present.
Meanwhile, drilling at the Sovereign prospect has also delivered encouraging outcomes. One of the highlights includes three meters grading 10.8g/t gold from thirty-six meters. However, further exploration is required to confirm the near-surface potential of the prospect, as historical drilling data has indicated deeper mineralization, with one prior drill hole reaching a depth of 125 meters.
To support its ambitious exploration program, Labyrinth Resources has secured an additional drill rig for Comet Vale. The company’s management has also expanded its technical team by appointing a new exploration manager, Matt Crowe, who brings extensive experience to help drive the company’s plans forward.
Looking ahead, the company has announced plans to initiate drilling at its other Western Australian assets, the Mulwarrie and Vivien projects, in the coming year.
Charles Hughes, CEO of Labyrinth Resources, expressed enthusiasm about the company’s growing momentum. He noted that the additional resources and personnel will allow the company to execute an aggressive drilling strategy aimed at expanding its mineral resource base in Western Australia.
As assay results from the ongoing Comet Vale drilling continue to return, Labyrinth Resources is poised to deepen its understanding of the region’s mineralization while advancing its broader exploration goals across multiple projects.
