L1M completes drilling at QLD gold-copper project - assays now pending

Our exploration Investment Lightning Minerals (ASX: L1M) just announced that drilling has been completed at its QLD gold-copper-silver project.

The diamond drilling program completed 9 holes totalling 1,113m across the 5 target areas targeting gold and copper.

Last week L1M announced assays from the first 3 holes on the gold project and now we have another 6 assays pending.

We covered the first batch of assays here: L1M: First gold drill results deliver 20.4m at 2.4g/t gold.

Here is our interpretation of what is happening and what we want to see the company do next.

(Source)

We also saw in the prior announcement that 2 drillholes not part of the original plan had been drilled to the south of the old gold pits, beyond where there is a copper porphyry target.

(Source)

L1M decided to drill these holes outside of the plan…

L1M said they were drilled on the “cobar line”, “south of the porphyry structure”...

Targeting “primary gold and silver”.

(Source)

So it will be interesting to see what comes from those holes too…

What’s next for L1M?

Diamond drilling program remaining results 🔄

L1M has already released the first batch of results, the remaining drills are at the lab being assayed so we would expect to see results on this soon.

Hopefully we can see some result replicating the 20.4m at 2.4g/t gold hit.

Soil sampling program alone ~12.5km fault line 🔄

A soil sampling program has formed part of this program to rank and locate additional drill targets.

L1M stated last week that the assays from the soil sampling program have assays pending, so we should see results from this soon.

Drilling into the porphyry copper target 🔲

L1M is planning to put the first drill holes into three copper porphyry targets that sit to the east of the gold targets this quarter. (Source)