Recent work has already broadened Litchfield’s geological canvas. Phase one reverse circulation drilling in the June quarter returned broad copper and zinc intercepts within the Oonagalabi Formation and a new magnetite-hosted gold-bismuth-style, with a 15-metre intercept grading 0.45 grams per tonne (g/t) gold, 0.17 per cent bismuth, 0.35 per cent copper and 0.12 per cent zinc from 50m. This was interpreted as a separate metallogenic event.
Bomb Diggity has been floated as a potential heat and metal source for the mineralisation and Litchfield plans to drill a deep diamond hole later this field season.
On the balance sheet side, Litchfield banked a $500,000 placement at 10 cents a share mid-last month and launched a share purchase plan targeting up to $1 million on the same terms, with insider participation signalling confidence ahead of the drilling push.
Earlier in June, the Northern Territory Government also backed the program through three geophysics and drilling collaboration grants worth about $256,000, to co-fund the Oonagalabi VTEM survey, a Bomb Diggity diamond test and an airborne magnetic program at Lucy Creek.
Meanwhile, the company is cultivating optionality alongside copper‑zinc. Initial creek‑bed sampling west of Oonagalabi produced up to 44.9 per cent heavy minerals and subsequent QEMSCAN work – or electron microscopy – alongside XRD work confirmed a garnet and pyroxene‑dominant suite with favourable liberation characteristics. This spurred Litchfield to search for processing and offtake partners.
Regionally, at the Lucy Creek 2 prospect in the Georgina Basin, portable XRF rock chips highlighted high‑grade manganese with elevated zinc, lead and silver signatures, prompting geophysical surveys to refine targets.
With groundworks imminent and drilling programs queued behind them, Litchfield is moving into an important quarter. The company now has a larger target map, multiple conductors aligned with the mineralised horizon and the backing to test them – a combination that could prove decisive if the sulphide source sits where the data suggests it should.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
- For more: Elrisala website and for social networking, you can follow us on Facebook
- Source of information and images “brisbanetimes”“
