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Finance Investment, Oil Mining Resources

Litchfield Minerals (ASX:LMS) – Multiple New Chargeability Trends Identified at the Historic Mount Irene Mine

Litchfield Minerals Limited (ASX:LMS) 2 mins read

Darwin, Northern Territory – April 10, 2024 – Litchfield Minerals Limited (ASX: LMS) ("Litchfield" or the "Company"), a critical mineral explorer, is excited to announce the discovery of multiple new chargeability targets at the historic Mount Irene Mine, following the successful completion of a Gradient Array Induced Polarisation (GAIP) survey in March 2024.

The GAIP survey, a cutting-edge exploration technique, has unveiled encouraging results, indicating the potential for significant extensions to the known mineralised reefs at Mount Irene, particularly trending towards the northwest (NW). These findings mark a significant milestone in Litchfield's exploration efforts, highlighting the untapped potential of the Mount Irene Prospect (EL 31305) and setting the stage for further exploration and development.

Key Highlights of the GAIP Survey:

  • Identification of New Chargeability Targets: The survey revealed multiple new and promising chargeability targets to the NW at Mount Irene, suggesting the presence of extensive mineralisation beyond the currently known reefs.
  • Extension of Mineralised Reefs: The results indicate a probable trend correlating with known surface outcrops, pointing towards the potential for significant extensions of the mineralised zones.
  • Innovative Exploration Initiatives: Litchfield plans to apply for the Innovative Targeting Grant from the Northern Territory Geological Survey (NTGS) to conduct an IP survey extending from Mount Irene to the Clark Mines to the west.
  • Upcoming Aeromagnetic and Radiometric Survey: A comprehensive aeromagnetic and radiometric survey covering 290km² is scheduled to start in mid-April. This survey aims to expand geological interpretation and identify new targets for exploration and drilling.

The Mount Irene Mine, situated within the Mount Doreen tenement package in the Northern Territory, is known for its copper mineralisation, associated with muscovite-bearing pegmatite and quartz veins. These geological features intrude into a complex matrix of biotite–muscovite–andalusite–quartz schist and minor metasandstone of the Lander Rock Formation, offering a rich tapestry for mineral exploration.

Matthew Pustahya, Managing Director commented on the success of our GAIP campaign and, our efforts and the upcoming aeromagnetic survey.

“We are extremely encouraged by the results from our positive GAIP survey at the Mount Irene prospect which is located in the Mount Doreen tenement in the Northern Territory

The survey data has revealed a chargeability high that aligns with the Mount Irene mine workings, trending approximately 110 degrees magnetic.

The positive outcomes of this GAIP survey have bolstered our confidence significantly. As a result, we are preparing to apply for an Innovative Targeting Grant through the NTGS.

Our goal is to extend the survey coverage by 5 kilometresto the west, reaching the Clark Mines prospect. “This is another positive step in advancing the Company’s exploration efforts across our tenement package and we look forward to updating the market in the coming weeks.”


About us:

Litchfield Minerals is a critical mineral explorer, primarily searching for base metals and uranium out of the Northern Territory of Australia. Our mission is to be a pioneering copper exploration company committed to delivering cost-effective, innovative and sustainable exploration solutions.

We aim to unlock the full potential of copper and other mineral resources while minimising environmental impact, ensuring the longevity and affordability of this essential metal for future generations.

We are dedicated to involving cutting-edge technology, responsible practices, and stakeholder collaboration drives us to continuously redefine the industry standards and deliver value to our investors, communities and the world.


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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