{"id":8519,"date":"2024-04-18T06:30:33","date_gmt":"2024-04-18T06:30:33","guid":{"rendered":"https:\/\/economicherald.net\/?p=8519"},"modified":"2024-04-18T06:30:33","modified_gmt":"2024-04-18T06:30:33","slug":"fresh-asx-lister-litchfield-minerals-has-new-options-for-critical-minerals-success","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8519","title":{"rendered":"Fresh ASX-lister Litchfield Minerals has new options for critical minerals success"},"content":{"rendered":"<p>Lucy Creek exploration licence has been granted which is prospective for manganese and other critical minerals<br \/>\nIP surveys have discovered copper chargeabilities around the historical Mount Irene mine, part of its Mount Doreen copper project<br \/>\nDeskstop studies underway at Lucy Creek to define more targets<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em><\/strong><strong>: Litchfield Minerals has just been granted the exploration licence for its Lucy Creek tenement in the NT, while IP surveys near the historical Mount Irene copper mine at its Mount Doreen project have identified new targets for further investigation.<\/strong><\/p>\n<p>The explorer, which executed a <a href=\"https:\/\/stockhead.com.au\/ipo-watch\/litchfield-proves-the-market-hasnt-completely-lost-its-appetite-for-ipos\/\"><strong>near-flawless $5m IPO back in March<\/strong><\/a>, is on the hunt for prized critical minerals and uranium deposits at two underexplored, yet highly prospective tenures in the NT.<\/p>\n<p>Recent road infrastructure upgrades by the Australian and NT governments have allowed better access for exploration in remote areas east and west of Alice Springs, which makes proving up resources easier and lowers transportation costs where <a href=\"https:\/\/stockhead.com.au\/company\/litchfield-minerals-lms\/\"><strong>Litchfield Minerals (ASX:LMS)<\/strong><\/a> is searching.<\/p>\n<p>\u00a0<\/p>\n<p>Litchfield\u2019s Lucy Creek and Mount Doreen critical minerals projects. Pic supplied: (LMS)<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Mount Doreen\u2019s new target<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>The company has recently been gearing up for a drill campaign around the Silver King target area of Mount Doreen and the newly identified anomaly at Mount Irene has added further targets to the project.<\/p>\n<p>A gradient array induced polarisation (GAIP) survey was carried out last month and results have shown a probable trend that correlates with known surface outcrops and has led to LMS identifying new copper targets.<\/p>\n<p>The GAIP survey also suggests that the mineralised reefs found at Mount Irene extend to the northwest and have not been tested by drilling.<\/p>\n<p>\u201cWe are extremely encouraged by the results from our positive GAIP survey at the Mount Irene prospect,\u201d Litchfield Minerals managing director Matthew Pustahya says.<\/p>\n<p>\u201cThe survey data has revealed a chargeability high that aligns with the Mount Irene mine workings, trending ~110 degrees magnetic.<\/p>\n<p>\u201cThe positive outcomes of this GAIP survey have bolstered our confidence significantly and as a result, we are preparing to apply for an Innovative Targeting Grant through the NT Government.<\/p>\n<p>\u201cOur goal is to extend the survey coverage by 5km to the west, reaching the Clark Mines prospect.<\/p>\n<p>\u201cThis is another positive step in advancing the company\u2019s exploration efforts across our tenement package and we look forward to updating the market in the coming weeks.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Survey coverage will extend towards the historic Clark Mines prospect area. Pic supplied: (LMS)<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Exploration to begin at Lucy Creek<\/strong><\/h2>\n<p>The Lucy Creek tenement is an \u2018early-stage\u2019 exploration project that encompasses an area of ~791km2 and carries with it a range of prospective mineralisation types including manganese, rare earths, cobalt and diamonds.<\/p>\n<p>Despite this, Lucy Creek has had very little exploration conducted due to previously difficult accessibility.<\/p>\n<p>\u201cThe granting of our second exploration licence is great news for Litchfield as it now provides Litchfield with exploration optionality,\u201d Pustahya says.<\/p>\n<p>\u201cIn the short term, we have commenced desktop studies on Lucy Creek, while it focuses its exploration activities on the Mount Doreen tenement.\u201d<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Litchfield Resources, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/fresh-asx-lister-litchfield-minerals-has-new-options-for-critical-minerals-success\/\">Fresh ASX-lister Litchfield Minerals has new options for critical minerals success<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Lucy Creek exploration licence has been granted which is prospective for manganese and other critical minerals IP surveys have discovered copper chargeabilities around the historical <a href=\"https:\/\/economicherald.net\/?p=8519\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8520,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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