Multiple holes at Bomb-Diggity Cluster, one kilometre northeast of Main Zone, intersected shallow copper-zinc-iron sulphides within an amphibolitic intrusive rock, confirming a fertile system with further drilling warranted.
And 5km to the south of Main Zone, the drill bit picked up a massive 104-metre copper-sulphide intercept from surface at its VT1 target in October, with high-grade bursts topping two per cent copper equivalent.
Litchfield Minerals managing director Matthew Pustahya said: “Across Phase Two and early Phase Three work, Oonagalabi is behaving like a large, active copper–zinc system. The 1.5km outcropping Main Zone continues to deliver broad mineralised thicknesses and OGRC014 has now intersected 148m of mineralisation.
From a valuation perspective, the near-surface Main Zone is what anchors Litchfield. Its scale and continuity appear to provide a clear valuation backstop as the company expands and de-risks the footprint through 2026.
Litchfield says it is well-funded to continue its exploration activities into the new year, following a recent $6 million raise.
The company says it plans to continue ground electromagnetic (EM) surveys through December, followed by diamond drilling into Bomb-Diggity and the Main Zone in January. In addition, reverse circulation drill rigs will be brought in to further test the EM plates at its VT1 and VT2 targets.
Litchfield’s Oonagalabi Main Zone geophysical and geological stars appear to be lining up, suggesting the company could be onto a sizeable system. With a stock price that, at one point, soared as much as 480 per cent to $1.16 a share since October, the punters clearly believe it too.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
