Minbrie Project Shows 7km Base Metals Potential as Lincoln Raises $2.25M
Lincoln Minerals has identified promising new drill targets at its Minbrie Copper-Base Metals Project in South Australia and secured $2.25 million in funding to advance exploration activities.
- Significant base metal mineralisation potential confirmed over 7km strike at Minbrie
- Two new high-priority drill targets identified through historic core reanalysis
- $2.25 million raised via entitlement issue and placement to fund drilling and development
- New leadership team appointed to drive next growth phase
- Drilling permits submitted with operations expected to commence soon
Exploration Progress at Minbrie
Lincoln Minerals Limited (ASX – LML) has reported encouraging developments at its Minbrie Copper-Base Metals Project on South Australia's Eyre Peninsula. The company has confirmed the potential for significant mineralisation of copper, zinc, lead, and silver extending over a 7-kilometre strike length. This follows detailed geological modelling around the initial discovery hole, which intersected notable grades including 0.8% copper and 7.5% lead over nearly 30 metres.
Further analysis of historic drill cores has uncovered two additional high-priority targets, dubbed Early Blaze and Novamac, which exhibit promising mineral signatures and structural settings conducive to further base metal deposits. These targets lie at varying depths and stratigraphic positions, suggesting a complex and potentially extensive mineral system.
Funding and Forward Plans
To support its exploration ambitions, Lincoln Minerals successfully raised $2.25 million through a combination of a renounceable entitlement issue and a follow-on placement. The capital injection strengthens the company’s balance sheet, enabling it to proceed with the planned drilling program at Minbrie, alongside ongoing metallurgical studies at its graphite project and advancing its magnetite and uranium assets.
The company has lodged the necessary permitting applications with the South Australian Department of Mines and is working closely with regulators to secure approvals. Drilling is expected to commence shortly once permits are granted, marking a critical step in testing the newly identified targets and expanding the known mineralised zones.
Leadership Refresh and Strategic Outlook
Lincoln Minerals has also announced a refreshed leadership team to steer the company through this pivotal phase. Chris Wilcox, an exploration geologist with over 20 years of experience, has been appointed CEO. Additionally, mining executive Greg English joins as Non-Executive Director and Chair, bringing enhanced strategic oversight. These changes signal a renewed focus on growth and value creation as Lincoln advances its portfolio.
With a strong cash position of nearly $1.9 million at quarter-end and a clear pathway to drilling, Lincoln Minerals is positioning itself to unlock the potential of its critical minerals projects in a region renowned for its mineral endowment. Investors and industry watchers will be keen to see the results from the upcoming drill program and how the company leverages its new leadership to accelerate development.
Bottom Line?
Lincoln Minerals is poised to translate promising exploration targets into tangible value as drilling approaches and a new leadership team takes charge.
Questions in the middle?
- What initial results will the upcoming Minbrie drilling program yield, and how might they reshape project potential?
- How will the new leadership team influence Lincoln Minerals’ strategic priorities and partnerships?
- What timelines and milestones can investors expect for permitting and subsequent exploration phases?
