Samso News: LinQ Minerals — Thick Shallow Gold-Copper Intercepts Confirm Continuity at the Dam Deposit - A Macquarie Arc-Scale Discovery?
- Noel Ong
- 3 hours ago
- 8 min read
Announcement
144m at 1.0g/t AuEq intercepted at the Dam Deposit – 8 January 2026 (view the announcement)
2nd Hole Returns 142m at 1.01g/t AuEq at the Dam Deposit – 14 January 2026 (view the announcement)
3rd Hole Returns 130m at 1.0g/t AuEq at the Dam Deposit – 20 January 2026 (view the announcement)
It is nice to see some drilling results coming out from LinQ, as the last time we covered LinQ was at its IPO in June 2025. As I mentioned in that review, this is not a greenfield project that has not had any historical work. It is a proven mineral system, and from our Samso perspective, the question is more about how fertile it is. I have taken a liking to the story, and with the three ASX releases showing evidence that there is some mineralisation, the story is building momentum.
With surging gold, silver, and copper prices, I think the LinQ pricing will be good to watch.
Introduction – Thick Gold-Copper Intercepts Strengthen the Southern Zone at Gilmore.
LinQ Minerals Limited (ASX: LNQ) has reported a second consecutive, thick gold-equivalent drill intercept from the Dam deposit within its 100%-owned Gilmore Gold-Copper Project, located between West Wyalong and Temora in central-west New South Wales.
The latest diamond hole, TDRCD002, returned 142 metres at 1.01 g/t Au Eq from 121 metres, reinforcing the continuity of a shallow, higher-grade gold-copper core positioned approximately 600 metres south of the historical Gidginbung open pit, within a recognised Macquarie Arc porphyry province.
The Business of LinQ Minerals Limited: Gold and Copper.
(Figure 1)
LinQ Minerals Limited is advancing its 100% owned Gilmore Gold-Copper Project in central-west New South Wales.
The project is located between West Wyalong and Temora, within the Macquarie Arc, Australia’s premier porphyry gold-copper province.
Gilmore hosts multiple porphyry and epithermal systems, with geological analogues to Cadia, Cowal, and Northparkes.
The Company controls approximately 597 km² of contiguous tenure, covering a ~60 km mineralised belt.
The tenure package includes 20+ prospects and six defined mineral resource deposits.
The Gilmore Project hosts a global JORC Mineral Resource Estimate of 516 Mt, containing approximately 3.7 Moz of gold and 1.2 Mt of copper (Au + Cu).
Figure 1: Regional Geological setting of the Gilmore Project (Green shade represents Macquarie Arc volcanics) (source: LNQ)
Highlights – Thick Shallow Porphyry Gold-Copper Intercepts at the Dam | 8 January 2026
LinQ intersected 144 metres at 1.00 g/t Au Eq from 84 metres in drill hole TDRCD001, the first hole completed at the Dam during the current program (Figure 2).
Figure 2: Gidginbung/ Dam plan image illustrating the location of drilling results and pending assays. (source: LNQ) (source: LNQ)
TDRCD001 significantly extends the thickness of shallow gold and copper mineralisation and confirms continuity of high-grade porphyry mineralisation adjacent to Gidginbung (Figure 3).
Figure 3: Dam cross-section illustrating the results from hole TDRCD001 (local northing 8880N) (source: LNQ)
The hole was a 110 metre step-out south of historical hole DD93GB45, which previously returned 167 metres at 1.87 g/t Au Eq, demonstrating consistent mineralisation along strike.
Results verify a 300 metre strike length exceeding 100 gram-metres Au Eq, reinforcing the scale and continuity of the Dam system (Figure 4).
Figure 4: Dam long section illustrating the results from hole TDRCD001. (source: LNQ)
All four holes drilled at the Dam intersected visible porphyry-related quartz-sulphide stockwork veining before passing through the Dam Footwall Fault, which defines the western boundary of mineralisation.
Assay results for the remaining holes (TDRCD002, TDRCD003, and TDRC004) are pending and expected within the coming weeks.
Drilling is scheduled to resume shortly at both the Dam and Gidginbung areas.
Highlights – Thick Gold-Copper Intercepts Extend the Dam System | 14 January 2026
142m @ 1.01 g/t Au Eq from 121m intersected in diamond hole TDRCD002 at the Dam deposit (Figure 5).
Figure 5: Gidginbung/ Dam plan image illustrating the location of drilling results and pending assays. (source: LNQ)
Confirms continuity of a shallow, high-grade (>100 gram-metre Au Eq) gold-copper core within the southern strike of the system (Figure 6).
Figure 6: Dam cross-section illustrating the results from hole TDRCD002 (local northing 8930N). (source: LNQ)
Reinforces results from nearby holes (Figure 7):
DD93GB45: 167m @ 1.87 g/t Au Eq
TDRCD001: 144m @ 1.00 g/t Au Eq from 84m
Figure 7: Dam long section illustrating the results from Linq holes TDRCD001 & TDRCD002, along with historical hole DD93GB45. (source: LNQ)
Demonstrates strong grade coherence across >100 metres of strike where limited historical drilling existed.
Results pending from two additional Dam holes (TDRCD003 and TDRC004), with further news flow anticipated in coming weeks.
Leadership Commentary
LinQ Minerals Executive Chair, Clive Donner, commented:
“TDRCD002 reflects another high value result in the Southern Zone which, coupled with TDRCD001 and DD93GB45, significantly extends the grade and thickness of shallow gold and copper mineralisation. There are multiple assays pending and we anticipate further news flow this month.”
Highlights – Consistent High-Grade Core Strengthens Southern Zone Confidence | 20 January 2026 Update
TDRCD003 returned 130m @ 1.0g/t Au Eq from 108m, including (Figure 2):
67m @ 1.40g/t Au Eq from 171m.
Figure 2: Dam cross-section illustrating the results from hole TDRCD003 (local northing 9040N). (source: LNQ).
The result confirms continuity of a shallow, high-grade gold-copper core.
A consistent >100 gram-metre Au Eq core is now defined over ~300m of strike at The Dam (Figure 3).
Figure 3: Dam long section illustrating the results from Linq holes TDRCD001, TDRCD002, TDRCD003 & TDRC004 along with historical holes DD93GB45 & DD94GB72. (source: LNQ).
Comparable intercepts include:
144m @ 1.00g/t Au Eq (TDRCD001)
142m @ 1.01g/t Au Eq (TDRCD002)
167m @ 1.87g/t Au Eq (DD93GB45 – historical)
85m @ 1.58g/t Au Eq (DD94GB72 – historical)
Mineralisation remains open at depth and along strike.
Wide drill spacing to the north leaves scope for additional high-grade cores.
Leadership Commentary
LinQ Minerals Executive Chair, Clive Donner, commented:
“We are highly encouraged by our maiden drilling campaign at the Dam deposit and the latest hole TDRCD003 has again confirmed and extended the strike of the higher-grade thick intersections of shallow gold and copper mineralisation. The Southern Zone is shaping up to be a significant mineralised district. There are currently assays pending and we anticipate further news flow this month.”
Near-term Milestones to Watch
Receipt of pending assays from Gidginbung and Mandamah.
Resumption of drilling at The Dam and Gidginbung deposits.
Further step-out drilling to test depth and strike extensions of the high-grade core.
Ongoing refinement of geological understanding across the Southern Zone.
Samso Concluding Comments
As I mentioned in the introduction, LinQ Minerals is incrementally building a clearer picture of the Southern Zone through drilling, and it is good to see that it is not just headline-driven exploration. The Dam deposit now shows multiple intercepts that align in thickness, grade, and geometry.
The gold-copper association is important as it underpins the Au Eq calculations used throughout the program. Both metals contribute meaningfully to the reported intercepts, reducing reliance on a single commodity. However, I am not a fan of the Au Eq scenario as it is really about sugar coating results. I know that people will argue that it is a way of representing a unit that everybody understand but I am not a proponent of this view.
The consistency of results across several holes and historical data is a good sign, but if I were to highlight negatives (to balance my views), the drilling is not really creating new areas. That is not saying it is bad; it's just not bringing anything new to the table. I can say this because I would have anticipated decent results already with an understanding of the historical data presented previously. What it may show is that it suggests the potential presence of a system that may support scale if the continuity continues to be confirmed.
As drilling resumes and pending assays are released, attention will remain on whether additional high-grade cores can be identified. This will be key to understanding the broader potential of the Southern Zone.
Market Implication - The Investor Lens
The market capitalisation of LinQ has reached AUD $112.4M since the release of the drilling results, and the market is without doubt liking the situation (Figure 4). This is a great situation for mineral explorers, as the need for market appreciation of good drilling results is long overdue.
Figure 4: LinQ share price chart as of 13 January 2025. (source: CommSec)
The challenge for the company now is to make sure that the mineralisation will extend with strike and increase the potential strike of the resource. I would think that the probability of getting more of the same good news in the area will be good for the company as they move forward with more drilling in the coming months.
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