LCL has found multiple nickel sulphide outcrops

Published 08-DEC-2023 12:17 P.M.

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Yesterday LCL Resources (ASX: LCL), released news out of its PNG exploration projects.

After doing some field work, LCL found more outcropping nickel sulphides across parts of its project that hadnt been found before.

We know that LCL’s other PNG projects are highly prospective for nickel sulphides, particularly the Veri Veri project which has “nickel boulders” grading up to 45.8% nickel.

LCL now has outcropping nickel sulphides extending over a strike length of ~20km.

That’s a vast stretch of strike to work with - so we are looking forward to seeing what kind of targets LCL will drill in PNG.

Below is a nice visual compilation of LCL’s exploration work in the area:

Our key takeaway here is that the nickel sulphide occurrences are occurring along a trend represented by the Keveri Fault - we think this information should help inform future drilling for LCL

EM surveys at Veri Veri

LCL has also received initial results from an EM survey at the previously mentioned Veri Veri project:

There’s a nice conductivity high in there which corresponds to LCL’s pre-existing field work.

All up, we think this work sets LCL up nicely to deliver (we hope) more excellent nickel results.

Columbia project update

With the gold price hovering around all time highs in the current macroeconomic environment, LCL also provided an update on its advanced gold project in Columbia.

LCL said that “The Department of Prior Consultation (a Central Colombian Authority within the Ministry of Interior) has advised that the Company re-open a consultation process with a local indigenous community for a portion of the 100% owned Quinchia Gold Project.”

While we await more news on the status of the Columbian gold project - we are glad that LCL remains well engaged with all the various stakeholders involved in the project.

What’s next for LCL?