MARQUEE RESOURCES LIMITED 01 April 2022
ASX RELEASE
Widest Zone of Copper Intersected To Date at Lone Star
o Significant zones of mineralisation intersected include:
o 149.4m @ 0.7 % Cu, 0.2 g/t Au & 1.3 g/t Ag from 12.8m (LS21-016) including:
▪ 4.6m @ 3.1 % Cu, 1.4 g/t Au & 11.7 g/t Ag from 108.8m
▪ 4.3m @ 1.1 % Cu, 0.2 g/t Au & 7.4 g/t Ag from 45.1m
▪ 9.2m @ 1.0% Cu, 0.2 g/t Au & 4.7 g/t Ag from 127.1m
o 33.2m @ 0.9 % Cu, 0.5 g/t Au & 4.5 g/t Ag from 16.5m (LS21-015)
o 54.9m @ 0.7 % Cu, 0.2 g/t Au & 3.4 g/t Ag from 6.1m (LS21-021) (note: only 50% of assays received thus far) including:
▪ 7.3m @ 2.1 % Cu, 0.7 g/t Au & 19.1 g/t Ag from 6.1m
o 25.3m @ 0.7 % Cu, 0.2 g/t Au & 1.4 g/t Ag from 50.3m (LS21-024)
o 3.1m @ 2.6% Cu, 0.9 g/t Au & 8.6 g/t Ag from 108.8m and 8.2m @ 1.3 % Cu, 1.0 g/t Au & 4.8 g/t Ag from 119.5m (LS21-011)
o Results from a further 6 completed drill holes still outstanding with drilling continuing 24/7.
Marquee Resources Limited ("Marquee" or "the Company") (ASX:MQR) is pleased to announce results from the latest batch of assays at the Lone Star Copper-Gold Project, Washington State, USA ("Lone Star" or "The Project").
Results from this batch of assays have intersected wides zones (up to 150m) of significant copper mineralisation that extends well beyond the extents of historical drill hole results. The wides zones of mineralisation are interpreted to be related to sub-vertical feeder dyke that has been the conduit for upwelling magmas during rhyolite dome emplacement and mineralisation (Figure 1).
Executive Chairman Comment
Marquee Executive Chairman, Mr. Charles Thomas, commented: "It's great to see the drilling further unlock our knowledge of the Lone Star deposit and extend the envelope of mineralisation well beyond the previously defined limits. These results validate the geological model developed by the Project Geologist on-site and opens up the potential to identify further sub-vertical, mineralised dykes."
"Drilling continues 24/7 and we have a further 6-holes at the lab awaiting assays, so it's going to be an exciting few months as we work towards completing our maiden drill campaign at the Project. We know the mineralisation at Lone Star plunges to the south-east, so we expect to see the excellent results continue as we systematically work through the drilling program from north to south. Resource modelling studies continue in the background and we are highly encouraged by what the drilling has produced thus far."
Figure 1: Cross-section 5428236N highlighting the mineralised feeder dyke intersected in drill holes LS21-015 & LS21-016.
Significant results from the latest batch of assays include:
o 149.4m @ 0.7 % Cu, 0.2 g/t Au & 1.3 g/t Ag from 12.8m (LS21-016) including:
▪ 4.6m @ 3.1 % Cu, 1.4 g/t Au & 11.7 g/t Ag from 108.8m
▪ 4.3m @ 1.1 % Cu, 0.2 g/t Au & 7.4 g/t Ag from 45.1m
▪ 9.2m @ 1.0% Cu, 0.2 g/t Au & 4.7 g/t Ag from 127.1m
o 33.2m @ 0.9 % Cu, 0.5 g/t Au & 4.5 g/t Ag from 16.5m (LS21-015)
o 54.9m @ 0.7 % Cu, 0.2 g/t Au & 3.4 g/t Ag from 6.1m (LS21-021) (note: only 50% of assays received thus far) including:
▪ 7.3m @ 2.1 % Cu, 0.7 g/t Au & 19.1 g/t Ag from 6.1m
o 25.3m @ 0.7 % Cu, 0.2 g/t Au & 1.4 g/t Ag from 50.3m (LS21-024)
o 3.1m @ 2.6% Cu, 0.9 g/t Au & 8.6 g/t Ag from 108.8m and 8.2m @ 1.3 % Cu, 1.0 g/t Au & 4.8 g/t Ag from 119.5m (LS21-011)
The geological model that has been developed for the Lone Star deposit is that at least three separate rhyolite sills, with associated volcanogenic massive sulphide (VMS) copper-silver mineralisation, are fed by sub-vertical feeder dykes. The mineralised sub-vertical dykes are estimated to be approx. 20-40m wide, extend laterally for tens to hundreds of metres, and are vertically extensive. Identification of the mineralised dykes opens up the possibility ofdefining significant additional mineralisation outside the flat-lying, VMS mineralisation that has been historically identified.
High-grade gold mineralisation is discordant with high-grade copper-silver mineralisation and it is interpreted that early volcanogenic massive sulphide (VMS) style copper-silver mineralisation has been overprinted by later shearing, brecciation and hydrothermal gold deposition. As such, the results indicate the potential to define further high-grade, structurally controlled gold mineralisation that was not a focus of historical exploration programs.
Table 1: Lone Star planned drilling program. BLUE shading = assays received. EOH = end of hole. Only 50% of results received for LS21-021
Hole Depth
Plan ID
EastingNorthingELEVAziDip
Plan IDEastingNorthingELEVAziDipHole Depth (m)
(m)
LS21-001382789
230.1 (EOH)LS21-022382865
5428217
1114.8
0
-90 209.1 (EOH)
LS21-002382802
LS21-003382799
224.3 (EOH)LS21-023382913
282.5 (EOH)LS21-024382821
-90 212.4 (EOH)
-90 197.3 (EOH)
LS21-004382777
LS21-005382855
191.1 (EOH)LS21-025382856
-90 215.5 (EOH)
5428302
1103.4
270
-70
110
LS21-026382890
5428187
1129.6
0
-90 236.8 (EOH)
LS21-006382857
139.3 (EOH)LS21-027382930
5428187
1136.4
0
-90 260
LS21-007382906
212.4 (EOH)LS21-028382689
5428149
1078.5
0
-90 50
LS21-008328781
LS21-009382818
133.2 (EOH)LS21-029382742
-90 80
90.5 (EOH)
LS21-030382783
5428149
1113.9
0
-90 120
LS21-010382819
197.2 (EOH)LS21-031382808
5428149
1119.8
0
-90 140
LS21-011382906
139.3 (EOH)LS21-032382839
5428149
1124
0
-90 210
LS21-012382710
5428248
1075.7
0
-90
95.7 (EOH)
LS21-033382926
5428149
1139.1
0
-90 260
LS21-013382754
5428250
1073.1
0
-90
252 (EOH)
LS21-034382703
5428095
1102.3
0
-90 70
LS21-014382782
130.2 (EOH)LS21-035382735
5428095
1108.5
0
-90 100
LS21-015382814
160.4 (EOH)LS21-036382833
5428095
1121.6
0
-90 220
LS21-016382839
200.3 (EOH)LS21-037382900
5428095
1137.3
0
-90 270
LS21-017382876
212.1 (EOH)LS21-038382745
5428051
1106.2
0
-90 110
LS21-018382693
197.3 (EOH)LS21-039382836
5428051
1124.1
0
-90 220
LS21-019382748
LS21-020382788
5428217
139.3 (EOH)LS21-040382839
5428024
1123.7
0
-90 250
1092.9
0
-90
159.5 (EOH)LS21-041382750
LS21-021382831
206.1 (EOH)LS21-042382787
5428022
1111.8
0
-90 220
-90 200
Lone Star Diamond Drilling Program Update
To date, 25 diamond drill holes for 4664m have been completed at Lone Star (Table 1) with full assay results from the first 18 drill holes received.
Batches of core are being delivered to the laboratory on a fortnightly basis with regular results expected over the coming months. Drilling continues 24 hours a day as part of the forty-three hole, ~7,000m diamond drilling program. Drilling is expected to be completed at the Lone Star Copper-Gold Project in Q1-2022 with the phase 1 drill program designed to satisfy three key objectives:
- Validate the historical drill hole database and resource model;
- Deliver a JORC compliant mineral resource estimate; and
- Test for extensions to the historical resource.
Additionally, Mining Plus Pty Ltd have begun resource modelling studies as the Company pushes towards delivering a 2012 JORC-compliant resource in 1H-2022.
Figure 2: Lone Star drill plan map
Table 2: Significant Intercepts from the Lone Star drilling Program
Hole_ID | From | To | Interval | Cu | Au | Ag |
(m) | (m) | (m) | % | g/t | g/t | |
LS21-001 | 41.5 | 50.3 | 9.1 | 0.6 | 0.2 | 3.2 |
LS21-001 | 54.9 | 61.2 | 6.9 | 1.2 | 0.8 | 12.9 |
LS21-001 | 65.8 | 110.0 | 44.2 | 1.3 | 0.2 | 4.6 |
inc. | 65.8 | 88.7 | 19.8 | 2.4 | 0.5 | 6.7 |
LS21-001 | 115.8 | 138.7 | 19.1 | 0.4 | NSR | NSR |
LS21-001 | 140.4 | 162.5 | 22.1 | 1.2 | 0.3 | 2.2 |
inc. | 140.4 | 162.5 | 8.5 | 2.1 | 0.8 | 2.4 |
LS21-001 | 198.7 | 200.9 | 4.7 | 0.8 | 0.3 | 1.0 |
LS21-002 | 46.9 | 60.8 | 15.5 | 3.7 | 1.8 | 23.0 |
inc. | 56.7 | 59.3 | 2.6 | 18.5 | 10.4 | 106.0 |
LS21-002 | 95.1 | 101.1 | 6.0 | 0.4 | NSR | 2.5 |
LS21-002 | 120.7 | 176.1 | 53.6 | 0.8 | 0.4 | 2.0 |
inc. | 167.6 | 176.1 | 7.6 | 2.1 | 1.4 | 6.2 |
LS21-002 | 193.8 | 194.7 | 0.9 | 3.8 | 1.2 | 4.0 |
LS21-002 | 199.3 | 200.5 | 1.2 | 3.0 | 1.9 | 4.0 |
LS21-002 | 202.0 | 203.6 | 1.6 | 0.9 | 1.0 | 2.0 |
LS21-003 | 72.4 | 77.4 | 5.0 | 3.5 | 1.1 | 17.5 |
LS21-003 | 125.6 | 147.9 | 22.3 | 0.8 | 0.4 | NSR |
inc. | 133.8 | 143.3 | 9.5 | 1.1 | 0.5 | 5.6 |
LS21-003 | 155.2 | 211.0 | 55.8 | 0.6 | NSR | NSR |
inc. | 165.9 | 175.1 | 9.2 | 1.0 | 0.3 | NSR |
LS21-004 | 7.0 | 14.6 | 7.6 | 1.2 | 0.3 | NSR |
LS21-006 | 99.7 | 111.6 | 11.9 | 1.0 | 2.0 | 3.3 |
inc. | 108.5 | 110.1 | 1.6 | 2.1 | 11.7 | 7.0 |
LS21-007 | 107.9 | 125.6 | 17.7 | 1.6 | 2.8 | 5.9 |
inc. | 112.2 | 116.3 | 4.1 | 5.3 | 1.5 | 16.8 |
inc. | 117.4 | 122.3 | 4.9 | 0.5 | 7.9 | 2.6 |
LS21-008 | 5.5 | 23.2 | 17.7 | 0.6 | 0.3 | NSR |
LS21-009 | 6.4 | 46.0 | 39.6 | 0.4 | NSR | NSR |
LS21-009 | 63.4 | 70.7 | 7.3 | 0.5 | 0.4 | NSR |
LS21-010 | 7.8 | 43.9 | 37.9 | 1.0 | 0.4 | 4.5 |
inc. | 21.0 | 33.2 | 12.2 | 2.0 | 1.1 | 8.8 |
LS21-010 | 59.2 | 80.5 | 21.3 | 0.6 | NSR | 3.3 |
LS21-010 | 127.1 | 138.4 | 11.3 | 0.4 | NSR | 3.2 |
LS21-011 | 108.8 | 111.9 | 3.1 | 2.6 | 1.0 | 8.6 |
LS21-011 | 119.5 | 127.7 | 8.2 | 1.3 | 1.0 | 4.7 |
LS21-012 | 50.3 | 50.9 | 0.6 | 2.4 | 1.4 | 8.0 |
LS21-013 | 87.8 | 96.0 | 8.2 | 0.4 | 0.2 | 0.5 |
LS21-014 | 3.1 | 10.4 | 7.3 | 0.4 | 0.2 | 2.5 |
LS21-015 | 16.5 | 71.6 | 33.2 | 0.9 | 0.5 | 4.5 |
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Marquee Resources Ltd. published this content on 31 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2022 01:32:03 UTC.
