LCL finds a repeat of its Kusi gold project?
LCL Resources (ASX: LCL) just put out the final assay result drill program at its Kusi Gold project in the PNG.
LCL drilled a total of 15 holes, primarily focused on its Kusi target where LCL hit a 52m @ 3.65g/t intercept from hole number 4.
We covered that hit in a previous note here: LCL delivers 52m at 3.65g/tonne gold - “spectacular” result
With its final hole (Hole 15) LCL drilled a previously untested target, looking for a repeat of what it was seeing at Kusi.
Today LCL looks to have found just that, ~1km to the west of Kusi.
LCL hit a 16m intercept with gold grades of 0.74g/t starting from 2m depth.
Now LCL has two key targets to drill out with future exploration programs - Kusi and what we are calling Kusi 2.0.
Kusi and Kusi 2.0 ‘Halo’ target areas:
LCL now has two areas of interest that wrap around two geophysical anomalies.
LCL is calling it a “Halo” around the anomaly.
To date LCL has only drilled a small section of the Kusi ‘Halo’ target and most of the newly defined area (Kusi 2.0) is undrilled.
We are looking forward to seeing LCL drill both the target areas in future drill programs.
Ultimately we want to see a large gold resource defined across the project.
What’s next for LCL?
- Field programs across nickel projects in the PNG 🔄
- Field programs across copper-gold targets in the PNG 🔄
- Joint Venture/Farm-out discussions 🔄
