This is especially the case given how Bell Potter believes its shares could rise by over 200% between now and this time next year.

Which ASX copper and gold stock?

The stock that has caught the eye of Bell Potter is LinQ Minerals Ltd (ASX: LNQ).

It is a Perth based gold-copper exploration and development company whose primary asset is the Gilmore Gold-Copper Project. 

Bell Potter highlights that it hosts the full suite of Macquarie Arc intrusive related copper and gold systems and is prospective for a range of economic deposits including analogues to the nearby Northparkes, Cadia, and Cowal systems.

The broker was pleased with the ASX stock's recent drilling results. It said:

These are strong first pass results from a maiden drill program that has delivered a 3 from 3 strike rate so far. The copper equivalent grades (and constituent gold and copper grades) are competitive with the Resource grades of large-scale copper-gold mines operating in Australia (Carrapateena, Northparkes and Cadia) and development projects such as Evolution Mining's (EVN, Buy, TP $16.60/sh) Marsden. 

The testing of Monza is at an early stage and results from a further 5 holes from the maiden program are anticipated in the coming weeks. Further strong results could materially upgrade the prospectivity at Monza, see it prioritised by LNQ and gain recognition in the market.

Speculative buy with major upside potential

According to the note, in response to the drilling results, the broker has retained its speculative buy rating and 90 cents price target on the ASX copper and gold stock.

Based on its current share price of 28 cents, this implies potential upside of 220% for investors over the next 12 months.

To put that into context, a $2,000 investment would be worth $6,400 by this time next year if Bell Potter is on the money with its recommendation.

Commenting on its investment thesis, the broker said:

Our valuation is based on a blended EV per Resource ounce multiple and a risk adjusted notional mining scenario, both developed under conservative assumptions. We see the foundations of a competitive development project that is undervalued by the market. Current and planned drilling programs have the potential to highlight this and catalyse a re-rating. We retain our Speculative Buy recommendation.

The post Which ASX copper and gold stock could rocket 200%? appeared first on The Motley Fool Australia.

The ASX small-cap stock in question is gold stock Linq Minerals Ltd (ASX: LNQ). 

It has already rocketed 95% higher year to date. The Bell Potter team expects this to continue. 

Linq Minerals is an early-stage gold-copper explorer that has garnered attention from brokers, who have identified potential for significant growth following strong drilling results at its Gilmore project.

Its Gilmore site is an advanced exploration stage project covering ~597km2 between Temora and West Wyalong in central west NSW.

In late April, the company released a quarterly report.

This was followed up by a drilling result from its Dam deposit, part of its 100%- owned Gilmore Gold Project. 

These updates have prompted new guidance from the team at Bell Potter, who are extremely optimistic about this small-cap. 

Drilling results 

According to Bell Potter, the objective of the current round of drilling is to test the extents of a higher-grade gold-copper core zone within the known mineralisation. 

The latest drill hole, TDRCD005, hit 114 metres at 1.19 grams per tonne gold equivalent from a depth of 144 metres.

This result extends the higher-grade zone by another 50 metres to the north, bringing the total strike length to about 400 metres.

Drilling has been successful so far, with four of the first five holes delivering strong results.

The higher-grade zone is still open, meaning it could continue further along strike and at depth.

There are still results pending from nine more drill holes, which are testing extensions to the north, south, and deeper underground.

These are further positive results that continue to build the scale, consistency and add to the economic value of the Dam deposit. This latest assay result is now one of multiple intersections of this scale and width, building a critical mass that we anticipate will be reflected in the next Resource update.

Big upside for this ASX small-cap

Following this update, the team at Bell Potter retained its buy recommendation, and price target of 90 cents per share. 

From yesterday's closing price of 39 cents, this indicates an upside potential of 130% for this ASX small-cap. 

We see the foundations of a competitive development project that is undervalued by the market. Current and planned drilling programs have the potential to highlight this and catalyse a re-rating. We retain our Speculative Buy recommendation.

The post The ASX small-cap every investor should be paying attention to appeared first on The Motley Fool Australia.