LinQ Minerals Strikes High-Grade Copper-Gold at Monza, Gilmore Project

LinQ Minerals Strikes Rich Copper-Gold at Monza, Confirming Shallow High-Grade Mineralisation Across a Rapidly Expanding Porphyry System

LinQ Minerals Limited (ASX: LNQ) has delivered a standout first result from its maiden drilling campaign at the Monza prospect within the LinQ Minerals Monza copper gold drill results at Gilmore Project in New South Wales, intercepting 70.8 metres at 1.11% copper equivalent (CuEq) from just 71.2 metres depth in hole MZACD003. The intercept grading 0.58 g/t gold and 0.65% copper confirms shallow, thick copper-gold mineralisation at a prospect that sits within one of Australia's most compelling porphyry belts and remains open in multiple directions.

The result is significant not only for its grade and width, but for what it implies about the broader Monza system. This is a prospect discovered in 2007 that has seen limited historical drilling and is now showing the hallmarks of a potentially large-scale porphyry copper-gold system. With seven additional holes completed and results pending, and drilling continuing across a 17-kilometre mineralised trend, this announcement represents the opening chapter of what could be a substantial exploration story.

What MZACD003 Delivered: The Numbers That Matter

The headline intercept from hole MZACD003 is noteworthy both for its grade and its proximity to surface, a combination that significantly lowers the bar for potential economic extraction down the line.

The 10-metre high-grade core at 2.82% CuEq (including 1.57 g/t gold and 1.56% copper) is particularly eye-catching, suggesting a well-mineralised core within a broader zone of copper-gold porphyry alteration. Furthermore, the deeper interval of 123 metres at 0.55% CuEq beginning at 150 metres extends the system considerably, adding meaningful strike and depth continuity.

Hole MZACD003 was drilled to a final depth of 405 metres, oriented to test eastern and down-plunge extensions of high-grade mineralisation from a previous hole, TMZD006. Importantly, assay results from the aircore pre-collar section (0–71.2 metres) and the end-of-hole section (309–405 metres) remain pending, meaning this result is partial. The full picture from this single hole could yet improve.

Putting Monza in Context: Historical Results Add Confidence

Monza is not a new discovery, but it has been significantly under-drilled relative to its apparent potential. Previous drilling at the prospect, conducted before LinQ's involvement, returned intercepts that provide important geological context for the current campaign.

The historical result in TMZD001 — 150 metres at 1.62% CuEq from 65 metres, including a spectacular 12.7 metres at 13.8% CuEq — is among the best drill results seen in this part of the Macquarie Arc. MZACD003 was designed to follow up on TMZD006, and the LinQ Minerals Monza copper gold drill results at Gilmore Project have successfully confirmed continuity of the high-grade corridor.

LinQ's current hole MZACD003 was drilled adjacent to these historical intercepts, confirming that the mineralised system is coherent and trackable. This is an essential precondition for resource definition work down the road.

Understanding Copper Equivalent (CuEq): A Primer for Investors

What Is Copper Equivalent?

When a deposit contains multiple valuable metals — in this case both copper and gold — geologists and analysts often express grades as a single number to make comparisons easier. Copper Equivalent (CuEq) converts gold grades into their copper equivalent value using prevailing commodity prices, then adds that to the copper grade.

LinQ has calculated CuEq using assumed prices of US$2,500/oz for gold and US$10,000/tonne for copper, with the formula: CuEq (%) = Cu (%) + (Au (g/t) × 8037.681 / 10,000).

Why Does It Matter for Investors?

CuEq gives a more complete picture of a deposit's value. At Monza, the headline grade of 1.11% CuEq reflects meaningful contributions from both gold and copper, meaning LinQ is exposed to the price performance of two high-demand commodities simultaneously. A rise in either gold or copper prices would mechanically improve the economic attractiveness of mineralisation at these grades.

Glossary of Key Terms

• Porphyry deposit: A large, low-to-moderate grade copper and/or gold deposit associated with a type of igneous rock formation. Typically large-tonnage systems that form the backbone of global copper supply.
• Epithermal: A shallower gold deposit type, often higher grade but smaller in scale than porphyry systems.
• Macquarie Arc: A geological province in New South Wales hosting some of Australia's most important copper-gold mines, including Cadia, Cowal, and Northparkes.
• MRE (Mineral Resource Estimate): A formal estimate of the quantity and grade of mineralisation in the ground, prepared under the JORC Code.
• JORC Code: The Australasian Joint Ore Reserves Committee code, the industry standard for reporting mineral resources and exploration results in Australia.

The Gilmore Project: Scale That Sets LinQ Apart

The Monza intercept does not exist in isolation. It is one data point within a much larger geological canvas that LinQ controls entirely.

Key Project Metrics at a Glance

• ~597 km² of tenements in New South Wales
• ~60 km belt of exploration ground hosting more than 20 known prospects
• 6 mineral resource deposits
• Global Mineral Resource Estimate of 516 Mt containing ~3.7 Moz gold and ~1.2 Mt copper
• Located within the Macquarie Arc, Australia's premier porphyry gold-copper province
• Analogues to Cadia, Cowal, and Northparkes — three of Australia's largest operating copper-gold mines

The Gilmore Project is divided into zones, with the Central Zone — where Monza sits — alone hosting a 17-kilometre mineralised porphyry copper-gold corridor. Within this corridor, LinQ has reported mineral resource estimates at the Estoril, Culingerai, and Mandamah deposits, alongside advanced prospects at Monza and Donnington.

Additional porphyry complexes including Showground, Punch, Harold Bell, Chicane, and RainHill have received only sporadic historical drilling, representing a pipeline of untested targets. Monza itself sits just 1 kilometre northwest of the Estoril deposit, and LinQ believes the two may form part of a single porphyry copper-gold system.

The Northparkes Analogue: Why Location Matters

Executive Chair Clive Donner stated: "Our maiden drill campaign at Monza has delivered an excellent first result, intersecting shallow, thick copper gold mineralisation from near surface. There has been limited historical drilling at Monza to date, and the target remains open in multiple directions. We have multiple assays pending across the Gilmore Project and anticipate further news flow this month. LinQ's drilling at the Gilmore Project to date continues to demonstrate significant scale and mineralisation across a ~40km strike. The Company is significantly leveraged to both copper and gold and is well-funded with ~$18.7m cash on hand to execute on a large drill campaign across our highly prospective belt."

One of the most compelling geological observations in this announcement is the comparison of the Gilmore Central Zone with Evolution Mining's (ASX: EVN) Northparkes copper-gold complex, located approximately 150 kilometres to the north. Both the Gilmore Project and Northparkes are hosted within the Macquarie Arc and are associated with monzodiorite intrusions.

The Rain Hill Monzodiorite stock at Gilmore is described as geologically analogous to the Northparkes host rocks. Northparkes is a well-established, long-life copper-gold operation, and the geological parallel provides a credible reference frame for the potential scale of what LinQ is exploring. However, it is important to note this is a geological comparison, not an operational or financial one.

Pipeline of Catalysts: What Comes Next?

LinQ has been explicit about the near-term newsflow investors can expect. With results from only a portion of one hole received so far, the information pipeline is substantial.

Pending Results Include

1. Remaining assays from hole MZACD003 (the aircore pre-collar from 0–71.2 metres, and the end-of-hole section from 309–405 metres)
2. Full assay results from holes MZACD004 through MZACD010, seven additional holes completed with results pending
3. Ongoing drilling at Monza, with the system open along strike, to the east, and down plunge
4. Exploration across the broader ~40-kilometre strike of the Gilmore belt, hosting multiple untested or under-drilled porphyry complexes
5. Potential drill testing of the 1-kilometre gap between Monza and Estoril, which has never received basement drill holes

Planned Exploration Priorities

• Testing strike and depth extensions at Monza
• Assessing whether Monza and Estoril represent a single connected porphyry system
• Further testing of the 17-kilometre Central Zone corridor
• Systematic drill testing of sporadically explored prospects including Showground, Punch, Harold Bell, Chicane, and RainHill

LinQ has flagged it anticipates additional newsflow within the month, a tight timeline suggesting the results pipeline from the current campaign is well advanced.

Financial Position: Funded to Execute

A strong cash position is the enabler of any ambitious exploration programme, and LinQ enters this phase of activity in a sound financial position. The company holds approximately $18.7 million cash on hand, which management has described as sufficient to execute a large drill campaign across the Gilmore belt.

For investors evaluating exploration-stage companies, the ability to self-fund a multi-hole, multi-prospect drilling campaign without near-term capital raising pressure is a meaningful differentiator. In addition, the funded runway reduces dilution risk and allows the team to make drilling decisions based on geology rather than capital constraints.

Why Investors Should Keep a Close Eye on LinQ Minerals

LinQ Minerals is not a single-prospect story. The LinQ Minerals Monza copper gold drill results at Gilmore Project represent the latest data point in a systematic exploration programme across one of the largest tenement packages in the Macquarie Arc — a geological address that has produced some of Australia's most significant copper-gold mines.

What makes the current moment particularly compelling:

• A high-grade maiden intercept at a historically under-drilled prospect confirms the geological model and opens up multiple directions for follow-up
• Seven holes with results pending means the information flow over the coming weeks could be substantial
• A 516 Mt resource base at 3.7 Moz gold and 1.2 Mt copper provides a foundation of scale that few ASX-listed explorers can match
• Dual commodity exposure to copper and gold, both metals with strong structural demand drivers across energy transition and financial safe-haven themes
• ~$18.7 million in cash positions the company to sustain an aggressive drilling campaign without near-term funding pressure
• Geological analogues to Northparkes, Cadia, and Cowal frame the upside in a credible and tangible way

Furthermore, the LinQ Minerals Monza copper gold drill results at Gilmore Project demonstrate that systematic exploration across quality geological terrain can generate material exploration upside for patient investors. With a well-funded treasury and a large pipeline of exploration targets across a belt hosting some of Australia's premier copper-gold operations, LinQ Minerals has positioned itself to capitalise on both immediate drilling success and the longer-term resource development opportunity.

All financial and exploration data referenced in this article is sourced from LinQ Minerals' ASX announcement dated 19 May 2026. CuEq values are calculated using assumed prices of US$2,500/oz gold and US$10,000/tonne copper. True widths of drill intercepts are not yet known at this stage of exploration.

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