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Litchfield Minerals (ASX:LMS) has started maiden diamond drilling at Oonagalabi in the Northern Territory, hunting a “tier one discovery” at the Bomb-Diggity intrusion − and more specifically, its source and structural pathways.
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“This drilling [is] an excellent first test of what we believe may be a later-stage, intrusion-related mineralising event associated with gold and bismuth,” Litchfield managing director, Matthew Pustahya, said today.
“We believe the key to a tier-one discovery at Oonagalabi is identifying the intrusive sources and structural pathways that have driven mineralisation.”
Litchfield’s maiden drilling program in the Top End consists of two diamond drill holes up to 1,000 metres together. The January campaign (which has been co-funded by the Northern Territory Geological Survey) has two key targets: The Bomb-Diggity intrusive body and the Oonagalabi main zone “magnetic finger.”
The first hole will drop to 700 metres at Bomb-Diggity − a “large, pipe-like magnetic anomaly measuring one by one kilometre” − while the second will drop some 300 metres.
“While this program is a strong first step, it is not a final test,” Mr Pustahya said. “With multiple additional intrusions along the Aileron-Irindina contact and priority VTEM corridors on these bodies, we are increasingly confident this corridor has the scale, architecture, and fertility to host a major mineral system.”
“With NTGS support and a rapidly expanding target pipeline, we believe Oonagalabi has the potential to deliver a high-impact discovery,” he added.
Heading into Week 4, shares in LMS were selling at 71.5c each.
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