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Lord Resources (ASX:LRD) has identified significant gravity anomalies indicative of copper mineralisation at its Ilgarari project in Western Australia, with these geophysical targets set to be defined by later drilling work.
The anomalies were discovered via a ground gravity survey 110 kilometres south of Newman, with the anomalies interpreted as dilation zones in the key Ilgarari Fault.
Another gravity low was also indicated four kilometres to the northeast along this Fault, in addition to gravity highs in its footwall zone – these are coincident with chargeability anomalies from historical induced polarisation (IP) surveys.
CEO Andrew Taylor said the gravity survey had gone beyond expectations in terms of results, picking up several targets that will play an important role in any future exploration.
“The gravity low mapped along the Ilgarari Fault confirms its role as a key mineralised structure, and the identification of additional gravity anomalies further enhances the
project’s potential,” Mr Taylor said.
“As we begin major exploration programs, these results bring us one step closer to unlocking the full potential of the Ilgarari copper project.”
Lord has also completed due diligence on the project, in addition to paying the consideration and has formally commenced the Earn-in agreement, to acquire an interest of 80% in all rights to minerals at the project found below 120m from the natural surface.
In November, the company also entered a binding earn-in agreement with Blackrock Resources Pty Ltd to earn up to an 80% interest in the sulphide rights.
The company’s shares have been trading at 2.4 cents.
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