Lightning Minerals Ltd (ASX:L1M) has started a focused auger sampling campaign at its 100%-owned Mailman Hill Gold Project, in a highly prospective gold region 30 kilometres east of the mining centre of Leonora, near Kalgoorlie in Western Australia.
The auger campaign is designed to identify drill targets which may be an extension to Cavalier Resources’ Crawford Gold Project which hosts 3.75 million tonnes at 1.0 g/t for 118,000 ounces (inferred + indicated) and initial probable ore reserve of 1 million tonnes at 0.91 g/t for 29,000 ounces.
Lightning Minerals’ 700+ sample auger drilling program will test 9-kilometres of the prospective lithology within the Keith-Kilkenny Tectonic Zone, immediately southeast of the Crawford Gold Project.
The samples will undergo UFF+ Ultrafine™ analysis, which can identify geochemical anomalism, potentially associated with mineralisation, through alluvial cover in the region.
The Crawford Gold Deposit immediately along strike to the north west of Mailman Hill and Lightning Minerals planned auger drilling.
Mailman Hill provides optionality
Lightning Minerals managing director Alex Biggs said, “Mailman Hill has been a project we have been working on since our IPO in November 2022. Understanding the potential for extensions to the Crawford deposit, owned by Cavalier Resources, is a good opportunity for the company to potentially make a discovery in a strategic location, surrounded by tier-one projects and operators.
“Mailman Hill provides the company some optionality in a highly prospective gold region, on a large lease with clear potential and a very positive gold market.
“We are still principally focused on the critical minerals and lithium markets, supported by our recent proposed acquisition of the Caraíbas and Sidrônio projects in Brazil’s Lithium Valley but see significant value at Mailman Hill in the near term which is located in one of the most established gold regions globally.
“As we build our business it is great to have multiple highly prospective projects across multiple jurisdictions which we feel will add significant value to our shareholders.”
The Mailman Hill asset is a project that was part of the Lightning Minerals’ IPO on the ASX in November 2022.
Following in-depth data review the company says it is “excited” about the gold potential the Mailman Hill asset may present.
While still focused on its lithium projects in Australia, Brazil and Canada, the company notes it is important that all projects are reviewed and appropriate work is completed.
Ongoing work programs
Recent drilling targeting lithium anomalism up to 218ppm lithium over 2.6 kilometres by 1.0 kilometre within tenement E63/2000 in the Dundas region of Western Australia is now complete, with results up to 994ppm lithium from less than 30 metres deep.
Further infill surface geochemistry programs are now being devised for E63/2028, and the Dundas North Project areas.
The company says it is also preparing for work programs on its Brazilian lithium projects Caraíbas and Sidrônio, part of its recent proposed acquisition of Bengal Mining.
Works also continue to focus on both its Dundas projects and Canadian projects, Dalmas and Hiver in Quebec. Multiple target areas exist across all projects.
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