LinQ Hits 144m Gold at Dam

Key Concepts

• Gold Equivalent (g/t AuEq): A measure combining gold and other metal (like copper) grades into a single value based on their respective market prices.
• Strike Length: The distance a mineralized zone extends in a specific direction (in this case, over 300m).
• Mineralization: The presence of valuable minerals within a rock formation.
• Tenement Package: The area of land held for mineral exploration and potential mining.
• Step-out Hole: A drill hole located a significant distance from previously drilled holes, used to extend the known extent of mineralization.
• Pod (High-Grade Pod): A concentrated area of particularly high mineral grade within a larger deposit.

Drilling Results at the Dam – Initial Assessment

The initial drilling results from the first hole at the Dam deposit are described as “stunning,” representing one of the best results across the entire project to date. Significant gold and copper mineralization was encountered starting at a shallow depth of 84 meters from the surface. The hole returned results exceeding 100 g/t gold equivalent (AuEq), a grade considered “extraordinary.” This initial result demonstrates the potential for high-grade, near-surface mineralization.

Continuity of High-Grade Mineralization & Scale

The Dam hole (referred to as “Dam hole one”) confirms the continuity of higher-grade mineralization, evidenced by its proximity to a previously drilled hole, GB45. Hole GB45 previously intersected 1.87 g/t AuEq over a substantial 167-meter interval. The Dam hole one, as a step-out hole, has significantly extended the known thickness of shallow gold and copper mineralization. The combined results from these two holes, located 110 meters apart, establish a mineralized strike length exceeding 300 meters. This scale is considered promising, and the company believes there is a likely “higher grade pod” within the Dam deposit that requires further drilling to delineate.

Resource Context & Strategic Focus

The Dam deposit, alongside the adjacent Gigipang gold project, forms part of the southern zone of York Resources. Collectively, these two deposits contain an estimated 55 million tons of ore, grading approximately 1 g/t AuEq. This translates to roughly 1.7 million ounces of gold equivalent, broken down into 1.22 million ounces of gold and 120,000 tons of copper. The company’s strategy centers on targeting these higher-grade zones within the Dam and Gigipang deposits, as this is expected to positively influence any future development scenarios.

Potential for Early Development & Funding

The Dam and Gigipang deposits are viewed as a potential “nucleus” for an early development pathway to production. Revenue generated from an initial, smaller-scale operation at these sites could then fund further exploration across the entire 600 square kilometer belt. This belt contains six chalk resources and over 20 additional mineralized targets, representing a substantial long-term exploration opportunity. The belt extends over 40 km of contiguous mineralization within a 60 km north-south orientation. As stated, the company believes they “could be busy for decades here,” highlighting the long-term potential of the tenement package.

Ongoing Exploration & News Flow

Multiple assay results are currently pending from drilling in both the southern and central zones, with news expected to be released over the coming months. Drilling will continue in these zones, and investors can anticipate “significant news flow” over the next quarter. The company is currently “well funded” to support this ongoing drilling program.

Notable Quote

“This is really a stunning result from the first hole we've drilled at the dam and one of the best across our entire project to date.” – Speaker, describing the initial drilling results.