Proactive Investors - Run By Investors For Investors

Laneway Resources extends gold mineralisation at Queensland project

Laneway Resources extends gold mineralisation at Queensland project

Laneway Resources (ASX:LNY) has received initial high grade gold assays from drilling at the Sherwood Prospect of its Agate Creek Gold Project in North Queensland.

The results confirmed its view that high grade near surface gold mineralisation extends materially beyond the boundaries of the metallurgical sample mined early last year which delivered 5,472 tonnes at 11.2 g/t Gold.

It expects to lodge its mining lease application shortly and will update JORC Resources within the next few months upon receipt of entire set of assays.

Results received to date include:

- 6 metres at 24.3 grams per tonne gold from 6 metres;
- 3 metres at 7.7g/t gold from 6 metres as well as 3 metres at10.7g/t gold from 14 metres;
- 3 metres at 9.6g/t gold from 13 metres;
- 3 metres at 9.8g/t gold from 6 metres; and
- 1 metre at 12.8 g/t gold from 4 metres and 2 metres at 12.8g/t gold from 11 metres.

Laneway has completed 4,257 metres of the planned 5,000 metre reverse circulation drill program designed to:

- Provide a more thorough definition of the near surface high grade gold zones at Sherwood with a view to establishing a resource of sufficient robust grade and size to sustain a near term high grade open cut mining operation;
- Deliver a material increase in the existing Resource Inventory at both Sherwood and Sherwood West through step out drilling and identified additional targets;
- Testing the southern extension of Sherwood West where the target mineralised zone remains open and has been continuously mapped some 700 metres to the south of current drilling; and
- Drilling of several highly prospective regional targets.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full LNY profile View Profile

Laneway Resources Ltd Timeline

Related Articles

Radiation signs
June 06 2019
The firm's boss remains "very confident in the long term fundamentals of the uranium market" given a combination of constrained supply, the run-off of long term contracts and growing demand outlook
Entrepreneur Tony Sage
November 27 2018
The company is firming up supplies of copper and cobalt in the DRC and Zambia.
mineral sands
June 27 2019
Dundas currently has a resource estimate of 117mln tonnes at 6.1% ilmenite in-situ.
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use