Loyal Metals Secures $4.4M to Revive Highway Reward’s 5.7% Copper Grade Mine

A Strategic Partnership to Unlock Legacy Value

Loyal Metals Limited has announced a significant collaboration with Dr. Simon Beams, a highly respected geologist with over 38 years of direct experience at the Highway Reward Copper-Gold Mine in Queensland. This partnership aims to breathe new life into one of the world’s highest-grade copper mines, leveraging Dr. Beams’ deep expertise alongside cutting-edge technology to identify new exploration targets.

Dr. Beams, who played a pivotal role in the original discovery drill hole in the late 1980s, brings an unparalleled understanding of the geological and geochemical framework of the Highway Reward deposit. His involvement ensures that Loyal Metals can build on a robust foundation of legacy data preserved by Terra Search, the firm he leads.

Digitisation and AI, Modern Tools for Historic Data

Central to this initiative is an accelerated digitisation and data consolidation program. Loyal Metals and Terra Search are integrating decades of physical and digital exploration and mining records into advanced AI-powered mining software. This technology will generate sophisticated 3D geological models, enabling the identification of promising drilling targets that may have been overlooked in past exploration efforts.

Complementing AI analytics, Loyal Metals plans to deploy modern geophysical techniques such as drone-based MobileMTd surveys and LiDAR mapping. These cost-effective methods will refine geological models and enhance the precision of exploration campaigns.

Highway Reward’s Rich History and Untapped Potential

The Highway Reward Mine has a storied history, with initial gold discoveries dating back to 1953 and copper production spanning from 1987 to 2005. Historically, the mine produced approximately 3.65 million tonnes of ore at an impressive 5.7% copper grade, alongside significant gold outputs. Despite this, the deposit still holds substantial remnant mineralisation, particularly in high-grade copper pipes that have repeatedly been discovered even in geologically challenging zones.

Loyal Metals’ Managing Director, Adam Ritchie, emphasised that the project is not merely a revisit of old ground but a forward-looking exploration effort combining legacy knowledge with modern precision tools. With $4.4 million in available funding, the company is well-positioned to accelerate exploration and unlock value.

Aligning Incentives with Project Success

In a move to align management incentives directly with the Highway Reward project’s success, Loyal Metals has proposed canceling existing performance rights related to its North American lithium assets. In their place, new performance rights and options tied to key milestones at Highway Reward will be issued, subject to shareholder approval. These milestones include delineating JORC-compliant mineral resources, positive pre-feasibility studies, financing agreements, and the commencement of commercial mining.

This realignment signals the company’s strategic focus on Highway Reward as a core asset and underscores management’s commitment to advancing the project.

Looking Ahead

With a blend of seasoned geological expertise, comprehensive legacy data, and modern exploration technologies, Loyal Metals is setting the stage for a potential resurgence of the Highway Reward Copper-Gold Mine. The coming months will be critical as the company digitises data, refines exploration targets, and prepares for drilling campaigns that could redefine the mine’s future.