Litchfield’s confidence was already rising after drilling in October at its VT2 prospect hit semi-massive and massive sulphides from 180m to 291m downhole. The sulphides were dominated by pyrrhotite, chalcopyrite, sphalerite and pyrite – all hosted within dense, iron-rich intrusive rocks.
The rocks at VT2 also appear to be part of a feeder system sitting beneath a disseminated halo that has formed around the anticlinal nose of a far bigger structure.
Adding to the prospect’s credentials and unlike many other classic Northern Territory deposits, the VT2 prospect is blind at surface. With no signs of erosion, outcropping or hints of geochemical leakage to give away its presence, the system appears to have remained completely untouched until modern geophysics began peeling back the cover.
Litchfield says the broader picture at Oonagalabi is now starting to come together, thanks to its new 3D magnetic inversion mapping. What appears to be emerging is a potentially large intrusion-related sulphide system sitting at depth, with disseminated mineralisation nearer surface, likely formed by fluids flowing upwards from a hidden intrusive structure below.
Moving forward, Litchfield plans to fire off a new ground EM survey later this month to sharpen the geophysical picture. The company will also complete the remaining IP lines north of Bomb Diggity and southeast of VT2 to trace the zone further down the eastern limb of the anticline.
Once the data is in, the company plans to roll the rigs back in with a far more precise drilling blueprint.
With a growing pipeline of targets, strong structural controls and a system that appears both intact and deep, Litchfield now finds itself with a genuine elephant hunt on its hands.
For punters that follow Litchfield, the next few months should provide plenty of news flow as the company shifts it’s focus from an early-stage exploration project to a large-scale conviction play.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
