Bajool Prospect Drilled to 648.5m as AC and RC Assays Outline Geochemical Trends

Drilling Milestone at Bajool Prospect

Lithium Energy Limited (ASX:LEL) has completed a significant phase of exploration at its Bajool Prospect within Queensland’s Capricorn Gold-Copper Belt Project, drilling a diamond core hole to 648.5 metres depth following a 140-metre reverse circulation (RC) pre-collar. Alongside this, 83 shallower air core (AC) holes totaling 2,237 metres were drilled across the geophysical survey footprint, marking a comprehensive effort to delineate the mineral potential of the Bajool Intrusive Complex.

Assay Results Reveal Geochemical Trends but No Immediate Copper Hits

Assay data has been received for the AC bottom-of-hole samples and the RC pre-collar intervals, revealing geochemical vectors trending broadly northwest-southeast. This pattern aligns with the 3D Induced Polarisation (3DIP) geophysical anomalies previously identified, suggesting a coherent porphyry system footprint. Notably, the air core assays do not report significant copper mineralisation at the bottom of holes, tempering near-term expectations for shallow copper zones.

The RC pre-collar assays show elevated molybdenum and copper values in certain intervals, reinforcing the potential for porphyry-style mineralisation. However, the full picture remains incomplete pending the diamond core assay results from 140 metres down to the hole’s terminus at 648.5 metres, expected between late May and early June 2026. These deeper assays could confirm the presence and extent of economically significant mineralisation.

Geophysical and Geological Integration to Shape Next Steps

Lithium Energy is advancing an integrated interpretation combining geological logging, geochemical assays, and the earlier 3DIP and Magnetotelluric (MT) surveys. This multi-dimensional analysis aims to refine understanding of the Bajool Intrusive Complex’s architecture and controls on mineralisation. The company’s objective is to evaluate the depth extent, geometry, and metal distribution of the system to inform decisions on further drilling.

The Bajool Prospect lies within a district-scale gold-copper belt surrounding the historic Mt Morgan Mine, which produced significant gold, copper, and silver over nearly a century. Lithium Energy’s Capricorn Project, in which it holds a 51% interest with the right to acquire the remaining 49% by April 2027, targets multiple mineralisation styles including porphyry copper, molybdenum, and volcanogenic massive sulphide (VMS) deposits.

Technical Challenges and Historical Context

The diamond drill hole BAJ0050 was drilled adjacent to an earlier RC pre-collar hole (BAJ0001) that was terminated early due to rig issues. Samples from both holes’ RC pre-collar intervals have been assayed, but the diamond core assays remain pending. Geological logging indicates the presence of diorite and related intrusive lithologies consistent with the Bajool Intrusive Complex’s interpretation.

The Bajool area has a rich exploration history dating back to the late 1960s, with multiple operators conducting geological mapping, geophysical surveys, and drilling. Modern techniques, including advanced 3D geophysical modelling and integrated analytics, are now driving Lithium Energy’s exploration strategy.

Exploration Momentum Across Capricorn Project

This drilling update follows Lithium Energy’s recent completion of its Sandy Creek drilling campaign, where assays are also awaited to determine the next phase of exploration within the Capricorn Belt. The company is methodically advancing its portfolio with a clear focus on leveraging modern geoscience to unlock the region’s mineral potential Sandy Creek drilling campaign.