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Litchfield Minerals Limited (ASX:LMS)

ALERT: Price-sensitive ASX Announcement for LMS
Current share price for LMS : $0.165 0 (0%)+
Announcement
Release
28 Oct 2026 9:16AM
Price at Release
$0.165
Full Release
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Summary
Litchfield Minerals Limited’s September 2026 Quarterly Activities Report and Appendix 5B detail progress across its Northern Territory exploration portfolio, led by the grant of EL34245 at Harts Range which enabled field reconnaissance at the Sybil copper target and Illogwa Creek, where visual observations identified chalcopyrite, malachite staining and sulphide-bearing mafic rocks that will be followed up with ground EM surveys and assays from 19 submitted rock chip samples; at Oonagalabi, the company secured a Topdrill rig, prepared pads for an October 2026 drilling campaign and reported final Phase 3 results including 5.3m at 0.64% Cu, 0.67% Zn and 2.2g/t Ag from 49.5m in OGDD003, while also completing an MT and gravity survey near Oonagalabi supported by up to A$100,000 NTGS co-funding; at Silver Valley, an initial three-line IP survey found western chargeability responses but no discrete high-priority drill target, prompting a reassessment of the remaining lines, although selective dump rock chips returned high grades including 470g/t Ag, 19.2% Cu and 23.2% Pb and 342g/t Ag, 16.1% Cu and 36.8% Pb; corporately, the company released a BHP Xplor Showcase presentation, launched a refreshed brand and investor hub, and ended the quarter with A$4.0 million cash, with the Appendix 5B showing net operating cash outflow of A$347,000, exploration and evaluation expenditure of A$250,000, net investing cash outflow of A$255,000, financing outflow of A$1,000, related party payments totalling A$88,000 in director fees, and estimated funding of 6.7 quarters based on quarter-end cash.
Key Points
  • EL34245 at Harts Range 1 was granted on 30 July 2026, allowing Litchfield to advance the undrilled Sybil copper target.
  • September reconnaissance at Sybil identified visual chalcopyrite, pyrite and malachite staining, while Illogwa Creek returned sulphide-bearing mafic rocks along the Illogwa Creek Shear Zone.
  • Nineteen rock chip samples from Sybil and Illogwa Creek were submitted for assay, with follow-up ground EM surveys planned.
  • Litchfield secured a Topdrill rig for Oonagalabi and drilling resumed on 12 October 2026 after quarter end.
  • Final Phase 3 Oonagalabi drilling assays included 5.3m at 0.64% Cu, 0.67% Zn and 2.2g/t Ag from 49.5m in hole OGDD003.
  • A magnetotelluric and gravity survey was undertaken near Oonagalabi with NTGS co-funding of up to A$100,000, but no survey results were reported in the quarter.
  • The initial three-line IP survey at Silver Valley identified western chargeability responses but no discrete high-priority drill target, leading to a reassessment of the remaining survey lines.
  • Silver Valley selective rock chip samples returned high-grade results including 470g/t Ag, 19.2% Cu and 23.2% Pb, and 342g/t Ag, 16.1% Cu and 36.8% Pb.
  • The company released its BHP Xplor Showcase Investor Presentation and launched a refreshed brand, new website and investor hub.
  • Quarter-end cash was A$4.0 million.
  • Appendix 5B reported net cash used in operating activities of A$347,000, net cash used in investing activities of A$255,000, and exploration and evaluation spend of A$250,000 for the quarter.
  • Payments to related parties totalled A$88,000 for director fees, and estimated funding available was 6.7 quarters.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.