LCL Resources Strikes Nearly 8g/t Gold at Ubei, Eyes Colombia Drilling Next

Strong Trenching Results at Ubei

LCL Resources (ASX – LCL) has delivered encouraging exploration news from its Papua New Guinea operations, notably at the Ubei epithermal gold-copper-silver target. The recent trenching program, conducted over 21 days, yielded a standout grab sample assaying 7.95 grams per tonne (g/t) gold, 0.51% copper, and 31 g/t silver. Additional samples returned gold grades above 1 g/t, reinforcing the prospectivity of the mineralised corridor.

The trenching was designed to validate surface geochemical data and structural orientations, confirming that mineralised veins dip southeast towards a significant induced polarization (IP) anomaly at depth. This alignment suggests the potential for a substantial mineralised system extending approximately 200 metres below surface, providing an attractive target for future drilling.

Exploration Advances at Dada Porphyry Prospect

Complementing the Ubei results, LCL completed a stream sediment sampling campaign at the Dada Au-Cu porphyry prospect, part of the broader Liamu Project. This early-stage copper-gold system has demonstrated promising porphyry-style stockwork veining and broad alteration zones. Previous trenching at Dada reported significant intervals of gold and copper mineralisation, including 96 metres at 0.41 g/t gold.

The recent sediment sampling, involving 63 samples collected over two weeks, aims to identify additional mineralised centres within the tenement. Assay results are expected in the coming quarter, which could further define the extent of this large mineralised system.

Progress in Colombia and Business Development

In Colombia, LCL remains under a binding option agreement with Tiger Gold Corp, which is advancing preparations for a TSX Venture Exchange listing. Tiger is planning a drilling campaign at the Tesorito project, signalling a step forward in unlocking value from LCL’s Colombian assets. Tiger’s recent $15 million financing and reverse takeover agreement with Badger Capital Corp underpin this strategic move.

Meanwhile, LCL is actively pursuing business development opportunities, focusing on potential sales or partnerships for its nickel assets in PNG, which have attracted credible interest. The company is also exploring options for its precious metals projects in PNG to advance them without additional capital raising. Additionally, LCL is conducting due diligence on advanced assets in jurisdictions with lower sovereign risk and operating costs, indicating a strategic pivot to diversify its portfolio.

Financial Position and Outlook

As of 30 September 2025, LCL reported cash reserves of A$1.8 million. The company invested approximately A$228,000 in exploration activities during the quarter, including the Ubei trenching and Dada sampling programs. Administrative and corporate costs amounted to A$224,000. These expenditures reflect a disciplined approach to advancing key projects while managing costs.

Looking ahead, the market will be watching closely for assay results from the Dada stream sediment campaign and the progress of Tiger Gold Corp’s drilling plans in Colombia. The outcomes could significantly influence LCL’s exploration trajectory and valuation.