Adding to the intrigue, rock chips testing conducted last month on a gossanous outcrop immediately above VT1, returned 0.6 per cent copper, 0.6 grams per tonne (g/t) gold, 14g/t silver and 7 parts per million (ppm) tellurium – an unusual but exciting geochemical cocktail.
Tellurium is regularly associated with gold-rich systems. However, when it shows up alongside copper and silver above a strong conductor, the chances of an iron oxide copper-gold or skarn-style system lurking beneath skyrocket. Confirmation of this type of discovery could prove to be a company-maker for Litchfield.
Litchfield says it now has its sights set on a possible folded eastern extension of this hot spot, which could potentially host more of the same and stretch the system even further.
Elsewhere, a real buzz is starting to build 1.5 kilometres to the northeast of Hole 10, where a separate electromagnetic (EM) survey, which had previously flagged a massive 500m-long conductive plate, dubbed VT2, is now being tested by the truth teller.
Described in the independent geophysical modelling as “highly conductive and laterally extensive”, the VT2 anomaly has the company extremely fired up at the prospect of testing what other treasures may be lurking under its feet at this separate anomaly especially after the success at VT1.
Slightly west of VT2, Litchfield is also pointing the drill bit at a group of targets called the “Bomb Diggity cluster” where magnetic, gravity and EM anomalies all converge. An early hole managed to skim the main target, snagging some copper on the way through, with the rig now moving on to test other parts of the cluster.
With every drill hole punching into copper and a geophysical roadmap lighting up with targets, Litchfield looks to be zeroing in on a large, fertile system that may yet deliver the NT’s next big copper find.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
