Litchfield is ready to explore new opportunities at its portfolio of projects in the NT. Pic via Getty Images.
Fresh ASX-lister Litchfield Minerals has new options for critical minerals success
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- Lucy Creek exploration licence has been granted which is prospective for manganese and other critical minerals
- IP surveys have discovered copper chargeabilities around the historical Mount Irene mine, part of its Mount Doreen copper project
- Deskstop studies underway at Lucy Creek to define more targets
Special Report: Litchfield Minerals has just been granted the exploration licence for its Lucy Creek tenement in the NT, while IP surveys near the historical Mount Irene copper mine at its Mount Doreen project have identified new targets for further investigation.
The explorer, which executed a near-flawless $5m IPO back in March, is on the hunt for prized critical minerals and uranium deposits at two underexplored, yet highly prospective tenures in the NT.
Recent road infrastructure upgrades by the Australian and NT governments have allowed better access for exploration in remote areas east and west of Alice Springs, which makes proving up resources easier and lowers transportation costs where Litchfield Minerals (ASX:LMS) is searching.
Mount Doreen’s new target
The company has recently been gearing up for a drill campaign around the Silver King target area of Mount Doreen and the newly identified anomaly at Mount Irene has added further targets to the project.
A gradient array induced polarisation (GAIP) survey was carried out last month and results have shown a probable trend that correlates with known surface outcrops and has led to LMS identifying new copper targets.
The GAIP survey also suggests that the mineralised reefs found at Mount Irene extend to the northwest and have not been tested by drilling.
“We are extremely encouraged by the results from our positive GAIP survey at the Mount Irene prospect,” Litchfield Minerals managing director Matthew Pustahya says.
“The survey data has revealed a chargeability high that aligns with the Mount Irene mine workings, trending ~110 degrees magnetic.
“The positive outcomes of this GAIP survey have bolstered our confidence significantly and as a result, we are preparing to apply for an Innovative Targeting Grant through the NT Government.
“Our goal is to extend the survey coverage by 5km to 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.”
Exploration to begin at Lucy Creek
The Lucy Creek tenement is an ‘early-stage’ exploration project that encompasses an area of ~791km2 and carries with it a range of prospective mineralisation types including manganese, rare earths, cobalt and diamonds.
Despite this, Lucy Creek has had very little exploration conducted due to previously difficult accessibility.
“The granting of our second exploration licence is great news for Litchfield as it now provides Litchfield with exploration optionality,” Pustahya says.
“In the short term, we have commenced desktop studies on Lucy Creek, while it focuses its exploration activities on the Mount Doreen tenement.”
This article was developed in collaboration with Litchfield Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
