Key highlights

  • LinQ Minerals (ASX:LNQ) shares were priced at $0.54 as at 4:11 pm GMT+11 on 22 October 2026, up 46.58% over the past five days and 154.76% over a year.
  • On 20 October 2026 the company reported visual observations of high sulphidation epithermal and porphyry-style mineralisation from 321 m to 750.3 m in its first Gidginbung South hole.
  • Final assays from hole GBRCD021 are expected in 6–8 weeks, and LinQ reported cash of $16.2 million at 30 June 2026.

LinQ Minerals Ltd (ASX:LNQ) shares were priced at $0.54 as at 4:11 pm GMT+11 on 22 October 2026, a gain of 46.58% (up $0.17) over the past five days, and the share performance data shows the stock up 154.76% over a year. LinQ is an exploration company focused on the Gilmore Project in the Macquarie Arc of New South Wales. In an ASX announcement dated 20 October 2026, it reported visual observations of mineralisation from the first drill hole at its Gidginbung South target.

About LinQ Minerals Ltd: Business overview

LinQ Minerals Limited is a West Perth-based exploration company. Its Gilmore Project is in the Macquarie Arc, a geological region of New South Wales that hosts gold and copper deposits, and includes the Gidginbung gold-copper deposit and the Dam copper-gold deposit. The company drills targets around those deposits to test whether larger mineralised systems exist, and it reported cash of $16.2 million as at 30 June 2026.

Gidginbung South first drill hole (20 October 2026)

LinQ reported that the first hole at the Gidginbung South target, GBRCD021, was drilled to 750.3 m, about 1 km south of the Gidginbung pit. The company’s geologists said, based on a visual assessment of core, that the hole had intersected a potentially large high sulphidation epithermal and porphyry system, with high sulphidation epithermal-style and porphyry vein-style mineralisation from 321 m to 750.3 m, a mineralised zone of 429 m. The hole remains open for extension on receipt of final assays.

The announcement said the epithermal mineralisation extends from 321 m to 570 m (249 m) beneath younger rock cover and lies 800 m south of the previously known southern limit of similar mineralisation at Gidginbung. Porphyry mineralisation, veining and alteration extends from 570 m to 750.3 m, and the new porphyry discovery is 1.6 km south-west of similar mineralisation at the Dam deposit. The main mineralisation observed so far is pronounced to intense pyrite.

Assay timing and next drilling

LinQ cautioned that visual estimates of mineral abundance are not a substitute for laboratory analyses, and said the company is sampling the hole with laboratory results expected in 6–8 weeks. GBRCD021 is the first of an initial four holes, spaced 200–300 m apart and up to 1,000 m deep, planned for the Gidginbung South target zone. The core of an induced polarisation anomaly lies about 200 m east of the mineralisation in GBRCD021 and will be tested by the next hole.

Related sector context

Exploration-stage Mining companies do not generate production revenue, so their share prices tend to follow drilling results, funding news, project milestones and Commodity sentiment. Shares of small explorers can move by large percentages on modest trading volumes, and the companies typically report through ASX announcements and quarterly activity reports that cover drilling, geological interpretation, cash balances and planned work programs.

Risks to weigh in

Visual observations of sulphide minerals are not assay results, and laboratory analysis will determine whether the intersections have economic significance. Exploration holes can encounter mineralisation that does not extend, and drilling programs can change with results, access and weather. As a small exploration company with no production revenue, LinQ depends on its cash balance and future funding, and its share price can move widely on drilling news and trading volumes.

Catalysts on watch

Final assays from hole GBRCD021, expected in 6–8 weeks after the 20 October 2026 announcement.

The next hole in the Gidginbung South program, targeting the core of the IP anomaly about 200 m east.

Further holes in the initial four-hole program and any later announcement on drilling results or funding.

Wrapping up

LinQ’s historical share performance data shows a large gain over one year and a further rise over five days, while its latest announcement describes early visual drilling observations at Gidginbung South. Laboratory assays in the coming weeks will provide the first quantitative results from the hole.