Lord Resources Unveils High-Grade Copper Extensions at Ilgarari

Strong Drill Results at Ilgarari

Lord Resources Limited (ASX, LRD) has delivered a promising update from its inaugural diamond drilling program at the Ilgarari Copper Project in Western Australia. The final assay results confirm significant extensions of high-grade copper mineralisation, with intersections reaching up to 4.59% copper. These findings extend the known Tailings Lode by approximately 330 metres down-plunge and the Hidden Lode by about 70 metres down-dip and 100 metres along strike, reinforcing the potential scale of the deposit.

The drilling campaign has not only confirmed the presence of high-grade copper but also refined the geological model underpinning the project. This enhanced understanding of the lode geometry and structural controls is critical for guiding future exploration and resource definition efforts.

Geological Insights and Structural Controls

The diamond drilling data, combined with earlier reverse circulation drilling and ground electromagnetic surveys, support a structurally constrained lode system. Copper mineralisation appears focused into plunging shoots along the Ilgarari Fault system, a feature that could provide a roadmap for targeting further high-grade zones at depth.

Notably, two deep holes tested a magnetic anomaly at depth, which was identified as a magnetite-rich dolerite sill unrelated to copper mineralisation. However, these holes did intercept mineralised faults with sub-economic copper grades, indicating the complexity of the geological setting.

Corporate and Financial Position

During the quarter, Lord Resources spent $855,000 on exploration and evaluation activities, reflecting a disciplined approach to capital deployment. The company maintains a healthy cash balance of $890,000 as of the end of December 2025. While a previously proposed 1-for-4 entitlement offer at $0.037 per share was cancelled, management is actively finalising funding plans to support ongoing exploration and drilling programs in 2026.

Chairman Paul Lloyd emphasised the company’s measured approach, stating that funding decisions are aligned with technical outcomes and that the company remains flexible to pursue value-accretive opportunities as they arise. This prudent capital management is reassuring for investors watching the company’s next steps.

Outlook and Next Steps

With the maiden drilling program complete and assays fully received, Lord Resources is now focused on integrating all geological, geochemical, and geophysical data. This comprehensive analysis, including detailed structural logging from the diamond core, will inform the design of future drilling campaigns aimed at expanding the resource and advancing the project towards development.

Meanwhile, no activity was reported at the company’s lithium and gold projects during the quarter, indicating a clear focus on advancing the Ilgarari Copper Project as the flagship asset.