How Will Lord Resources’ Maiden Drilling Unlock Ilgarari’s Copper Potential?

• Secured $306,500 WA Government co-funding for drilling and geophysics
• Completed heritage survey clearing path for drilling
• Raised approximately $1.39 million via 1-for-1 entitlement offer
• Preliminary MLEM survey results refine high-priority drill targets
• Maiden drill program at Ilgarari imminent with full permits in place

Strategic Funding and Survey Milestones

Lord Resources Limited (ASX, LRD) has made significant strides in advancing its Ilgarari Copper Project, located 110km south of Newman in Western Australia. During the June quarter, the company secured $306,500 in co-funding from the Western Australian Government’s Exploration Incentive Scheme to support deep diamond drilling and a moving loop electromagnetic (MLEM) survey. This financial backing underscores the project’s potential and the government’s confidence in its exploration strategy.

Complementing this funding, Lord completed a critical heritage survey in collaboration with the Ngarlawangga Aboriginal Corporation. This survey cleared the way for the upcoming maiden drilling campaign, ensuring that exploration activities respect local cultural heritage and regulatory requirements.

Refining Targets with Advanced Geophysics

In July 2025, preliminary results from the MLEM survey revealed multiple conductive plates along the Ilgarari Fault corridor. These conductors align closely with previously identified mineralisation zones beneath historical workings at the Alac prospect and coincide with magnetic anomalies at both the Main and Alac prospects. Such findings have sharpened the focus of Lord’s maiden drilling program, targeting these high-priority zones with the potential for significant copper mineralisation.

The MLEM survey, covering nearly 60 line kilometres, was designed to detect sulphide mineralisation at depth, a key indicator of copper deposits. The ongoing modelling of this data is expected to provide further clarity on the subsurface geology and help prioritise drill targets.

Capital Raising and Board Changes

To fund its exploration activities, Lord launched a 1-for-1 entitlement offer, successfully raising approximately $1.39 million before costs. The offer included a shortfall placement completed in July, demonstrating strong shareholder support. These funds are earmarked primarily for drilling and ongoing exploration at Ilgarari.

On the corporate front, the company appointed Davide Bosio as a Non-Executive Director, bringing valuable experience from his roles at Black Cat Syndicate Limited and Yojee Ltd. Meanwhile, Christopher Swallow resigned from the board to focus on his managing director role elsewhere, signaling a shift in the company’s governance as it moves into an active exploration phase.

Looking Ahead, Drilling Imminent

With all permits secured and logistical preparations complete, Lord Resources is poised to commence its maiden drilling campaign imminently. The combination of geophysical data and government co-funding has positioned the company to test compelling copper targets that could define the next chapter for Ilgarari. Investors and market watchers will be keenly awaiting assay results and further updates as drilling progresses.

Meanwhile, other projects in Lord’s portfolio, including lithium and gold assets, remained inactive during the quarter, highlighting the company’s current focus on unlocking value at Ilgarari.

Bottom Line?

As Lord Resources prepares to drill, the market awaits confirmation of copper potential that could reshape its exploration trajectory.

Questions in the middle?

• Will the maiden drilling confirm the high-grade copper potential suggested by geophysical surveys?
• How will the new board composition influence Lord’s strategic direction post-drilling?
• What are the implications of government co-funding on future exploration financing and partnerships?