L1M details phase 2 drilling plan at QLD gold-copper project
Our exploration Investment Lightning Minerals (ASX: L1M) has released the initial planning for the phase 2 drilling program at its QLD project acquired earlier this year.
L1M just finished its first round of drilling on the project and hit intercepts like the 20.4m at 2.4g/t gold and 14.3g/t silver…
Those results came from one of the many old pits that run across a ~12km strike extent on the project.
(Those pits were mined for gold back in the 1980s and 1990’s. L1M is now going back to drill below those pits to see if the gold continues at depth)
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From today’s announcement, we can see L1M is planning follow-up drilling across most of those targets.
Including a single vertical drillhole into the big porphyry target on the project:
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We are especially interested in that big vertical hole - which will properly test the theory L1M has been working with that the gold pits to the north sit alongside a big porphyry “feeder” structure (the source to the mineralisation in the area).
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Here is a diagram explaining the different expected mineralised zones from that adjacent porphyry target areas, the 2 drill holes were in the green zone below and hit base metals:
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We are also interested in seeing the 20.4m at 2.4g/t get followed up - basically we want to see the green spots in the image below all come back mineralised extending that old hit:
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L1M says that drilling on the project would start in Q1 next year.
What we want to see next from L1M
Soil sampling and drill results used to generate a new drill program 🔄
A soil sampling program formed part of this program to rank and locate additional drill targets.
L1M released these results recently along with the remaining drilling results, these are being used to help locate further drill targets once analysed which we can see is nearing finalisation.
Drill program commencement 🔲
L1M confirmed today that drilling is expected to begin in Q1 next year, so we await confirmation of the drilling program once it’s finalised and a drilling commencement date to be set.
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