Lux Metals' First Hole at Zone 32 Returns 17.57 g/t Au Over 19.5 m at La Grande, Quebec

Lux Metals Corp. ($LXM, TSXV: LXM) has confirmed grade continuity with its first drill hole at Zone 32 of the La Grande Gold Project, in the Eeyou Istchee James Bay region of Québec. This was the first drilling on this target area in more than a decade.

Hole LG26-241 intersected 17.57 g/t Au over 19.5 m (220.5 to 240 m downhole), returning 343 gram-metres gold. The interval includes 39.08 g/t Au over 8 m, with one sample grading 165 g/t Au over 1 m. Capped at 50 g/t Au, the full interval grades 11.67 g/t Au and the included interval 24.70 g/t Au. The intercept sits more than 40 m from the nearest known historical interval, confirming spatial continuity of the zone as well as grade. Reported intervals are core lengths; the company estimates true width at 75% of the intercept.

"This is the first hole Lux has drilled at La Grande, and it delivered. After more than a decade without drilling at Zone 32, we're seeing the same style of shear-hosted gold-copper mineralization the previous operators reported. We acquired this project because we believed the system was open, and today's result is the first step in demonstrating that," said Kim Quyên Nguyên, President and Chief Executive Officer of Lux Metals Corp.

Mineralization occurs in sheared tonalite with sericite alteration and disseminated chalcopyrite-pyrite. Quartz-chlorite veins carry visible gold. Two additional holes are planned at depth at Zone 32, and final assays from the program are expected in mid to late November. In an Oct. 15 update, the company said a geophysical survey and a validation of the historical drill database are also planned to refine targets along the broader corridor, each a step toward a first NI 43-101 mineral resource estimate.