What Lies Beneath? Litchfield Hits 100m+ Copper-Zinc at Oonagalabi but Withdraws CuEq

• Hole 10 intersects over 100m of copper-zinc mineralisation with multiple high-grade zones
• Copper equivalent (CuEq) calculations withdrawn due to lack of metallurgical testwork
• Strong correlation between geophysical anomalies and mineralisation confirmed
• Rock chip sampling above VT1 conductor reveals gold, silver, copper, and tellurium
• Operational challenges slow drilling but confidence in system continuity remains high

Significant Copper-Zinc Discovery at Oonagalabi

Litchfield Minerals Limited (ASX – LMS) has announced a major milestone in its exploration at the Oonagalabi Project in the Northern Territory, revealing that Hole 10 has intersected more than 100 metres of disseminated copper-zinc sulphide mineralisation. This intersection includes several broad zones of higher-grade mineralisation, marking the most significant drill result at the project to date. Preliminary portable XRF (pXRF) readings indicate copper grades around 1.37% and zinc at 1.59%, with assays now being expedited to confirm these promising figures.

Clarification on Copper Equivalent Metrics

In a follow-up disclosure, Litchfield Minerals has withdrawn its previous references to copper equivalent (CuEq) values. The company explained that while initial CuEq calculations assumed conservative metallurgical recoveries of 90% for copper and 85% for zinc, these assumptions have not yet been validated by metallurgical testwork compliant with the JORC Code standards. To maintain transparency and avoid misleading investors, the company advises shareholders not to rely on CuEq figures until further metallurgical data is available.

Geophysical Data Supports Mineralisation Continuity

The drilling results align closely with geophysical surveys, particularly the induced polarisation (IP) and VTEM electromagnetic data. Hole 10 targeted a high chargeability anomaly, confirming a strong correlation between chargeability and disseminated copper-zinc sulphides. Additionally, the VTEM survey identified two major conductive plates, VT1 and VT2, interpreted as potential semi-massive to massive sulphide bodies. Rock chip sampling directly above the VT1 conductor returned encouraging values of copper, gold, silver, and tellurium, suggesting a fertile skarn or IOCG-style mineral system.

Operational Challenges and Forward Outlook

Despite slower-than-anticipated drilling progress due to challenging ground conditions and logistical issues, Litchfield remains optimistic. Both drilling rigs are focused on priority targets, including the highly conductive VT2 anomaly, which spans over 500 metres and is considered a prime target for high-grade mineralisation. The company plans to continue its Phase 2 reverse circulation drilling program, followed by an inaugural diamond drilling campaign and resource estimation.

Strategic Implications for Investors

This latest update underscores the potential scale and continuity of the Oonagalabi copper-zinc system. The withdrawal of CuEq guidance, while a prudent transparency measure, introduces some uncertainty around immediate economic valuation. However, the consistent presence of copper mineralisation in every hole drilled so far, combined with strong geophysical and geochemical indicators, positions Litchfield Minerals as a noteworthy explorer in the critical base metals sector.

Bottom Line?

As assays and metallurgical tests unfold, Litchfield’s Oonagalabi project could redefine copper-zinc exploration in the Northern Territory.

Questions in the middle?

• What will laboratory assays reveal about the true grades and potential gold content in Hole 10?
• How will metallurgical testwork impact the economic viability and copper equivalent calculations?
• Can drilling at VT1 and VT2 conductors confirm the presence of massive sulphide bodies and expand resource potential?