Litchfield Minerals (ASX: LMS) has completed an 11-hole reverse circulation (RC) and three-hole diamond drilling campaign at the Oonagalabi copper-zinc project in the Northern Territory.
The program tested a series of targets, conductors, and anomalies, as well as extensions to Oonagalabi’s Main Zone.
Two of the diamond holes tested a magnetic anomaly at the Bomb Diggity target, with the third testing extensions to the Main Zone at the Oonagalabi prospect.
Samples have been submitted for laboratory analysis, and assays will be combined with logging and geophysical data to define high-confidence and constrained regional targets for the next phase of drilling.
Silver Valley Sampling
Results from rock-chip sampling at the nearby Silver Valley project have confirmed high-grade polymetallic mineralisation associated with quartz veining.
Highlights included 378 grams per tonne silver, 0.91g/t gold, 5.04% copper, and 44.9% lead, along with 128g/t silver, 0.07g/t gold, 0.02% copper, and 16.1% lead.
The results demonstrate that parts of the project host high-grade silver-lead mineralisation with associated copper-gold, reinforcing Litchfield’s belief that it holds potential for a large-scale, structurally controlled mineralised system.
The surface results sit within a broader system characterised by extensive quartz reef development, visible sulfides, and historical high-grade production, supporting the interpretation that it is well-preserved and likely extends at depth and beneath shallow cover.
The company will be in the field next month to identify further surface mineralisation, and assess and define the trend and geometry of known quartz veining across the tenement—a key step in transitioning Silver Valley from a surface-defined high-grade vein system into drilling targets with potential for scale at depth.
‘Compelling Near-Term Opportunity’
“These results are exactly what we were hoping to see from our first pass reconnaissance at Silver Valley,” managing director Matthew Pustahya said.
“We see Silver Valley as a compelling near-term opportunity within our portfolio, with the potential to deliver both scale and grade, and importantly, provide a pathway to rapid value creation as we move towards drilling.”
“The next step is to test whether this mineralisation persists at depth—where we believe the real opportunity lies.”
Litchfield plans to host a webinar next week to allow shareholders to better understand the work undertaken behind the scenes to advance its knowledge of the broader district.
The company said it is now in a position to outline its involvement in the BHP Xplor Program, including the specific workstreams being progressed and the strategic rationale underpinning them.
