Alice Springs, Northern Territory, May 29, 2024 – Litchfield Minerals Limited (ASX: LMS), an ASX listed critical mineral explorer, is pleased to report significant progress and promising initial results from its maiden drilling program at the Silver King prospect within the Mount Doreen tenement.
The initial phase of the diamond drilling program targeting copper-lead-silver mineralisation has successfully completed two drill holes, LMD001 and LMD002, with a third hole, LMD003, more than halfway through. These early results have visually confirmed several zones of varied sulphide mineralisation across the drilled segments, corroborating the geophysical models and exploration targets previously established.
Key Highlights from the Silver King Drilling Program:
- Completion of First Two Drill Holes: The initial diamond drill holes, LMD001 and LMD002, are now complete. The core from LMD001 has been dispatched for laboratory assay with results expected in four weeks.
- Visual Confirmation of Mineralisation: Multiple zones of sulphide mineralisation were observed in the initial drill holes, indicating a robust mineral system.
- Expansion of Drilling Operations: An additional RC rig has been deployed to further explore the Copper Flats and Mount Irene, enhancing our understanding of the broader mineral potential across the Mount Doreen tenement.
Matthew Pustahya, Managing Director commented: "We are excited to announce that our initial two diamond drill holes at the Silver King Prospect are now complete with our third in progress and we have visually observed several zones of multiple types of sulphide mineralisation throughout all three holes. The system appears at varying levels throughout the core, and we have confidence the rest of our drill program will provide additional insights into its orientation and style.”
“We believe there is potential for a robust system to exist at Silver King, evidenced by significant alteration and intense silica flooding associated with sulphide mineralisation. Due to our Company’s steadfast commitment to data-supported reporting, it is not appropriate to speculate further until we receive the results. We look forward to sharing more updates on the assay results with the market as soon as they become available.”
The Silver King prospect has historically been a site of minor copper mining activities and is known for its copper-lead-silver mineralisation associated with geological faulting and siliceous, granite-related intrusions. The ongoing drilling program aims to explore these features more extensively and to assess the economic viability of the mineral resources within this area.
Litchfield Minerals remains committed to conducting its exploration activities under the highest standards of environmental stewardship and community engagement, ensuring that all operations benefit both shareholders and the local communities.
About us:
Litchfield Minerals is a critical mineral explorer, primarily searching for base metals and uranium in the Northern Territory of Australia. Our mission is to be a pioneering copper and other minerals exploration company, which is committed to delivering cost-effective, innovative and sustainable exploration solutions.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au