Lux Metals Gold Project in Canada Reports New Assay Results of 19.5 m at 0.71% Copper

en.Wedoany.com Reported - On October 29, Canadian mineral exploration company Lux Metals released new copper assay results from the Zone 32 mineralized trend at its La Grande gold project in Quebec. Drill hole LG26-241 intersected a 19.5 m mineralized interval from 220.5 m to 240 m downhole, averaging 0.71% copper and 17.57 g/t gold, including an 8 m sub-interval grading 1.45% copper and 39.08 g/t gold. The newly reported results are copper assay data for the interval whose gold assays were previously announced on October 14.

The new assay results show that a 1 m sample from 232 m to 233 m in hole LG26-241 graded 3.58% copper and 165 g/t gold, while another 1 m sample from 233 m to 234 m graded 5.79% copper and 45.40 g/t gold. The 19.5 m mineralized interval represents downhole intersection length; the company estimates true thickness at approximately 75% of the downhole intersection length.

Mineralogical analysis confirms that copper in the mineralized interval occurs mainly in chalcopyrite, which occurs together with pyrite and visible native gold in sericite-altered shear zones and quartz veins. Localized chalcopyrite enrichment and visible gold mineralization were observed from 232.41 m to 233.62 m. The company believes the new copper assay results further support the gold-copper co-mineralization characteristics of Zone 32.

The 2026 diamond drilling program at the La Grande project was completed on October 20, with a total of 3 drill holes and 1,416 m drilled. In addition to LG26-241, the remaining holes focused on testing the eastern extension of Zone 32 and the deep mineralized zone identified by historical drill hole LGS12-224. All core has been geologically logged and sampled and sent to AGAT Laboratories in Val-d'Or, Canada, for assay.

Lux Metals has commenced a high-resolution drone aeromagnetic survey covering Zone 32, planning approximately 160 line-km at 35 m line spacing, focusing on identifying the contact zone between the La Grande-Sud tonalite and Yasinski Group volcanic rocks and related shear structures. The company plans to combine the aeromagnetic data with the 2026 drilling results to determine the next-phase drill hole locations. Assay results for the remaining holes are expected by the end of November and will be released after verification.