Lightning Minerals Ltd (ASX:L1M) managing director Alex Biggs talked with Proactive about the company’s ramp-up of activities at its Mt Turner Gold Project in Queensland, following the proposed acquisition of Lotus Minerals. The acquisition brings in advanced-stage gold and copper assets, and Biggs confirmed that work is already underway at the site.
“So we've just announced the proposed acquisition of Lotus Minerals,” Biggs said. “One of the assets within Lotus is the Mt Turner Gold Project… it gives us the opportunity to get on the ground pretty quickly, do some work and be fairly confident in the positive results.”
Initial soil sampling is being funded by Lotus as part of the deal, with plans for drilling to follow the company’s upcoming AGM. Biggs also highlighted the strategic value of adding brownfield projects with clear targets to the company’s portfolio.
He emphasised the strength of current gold and copper prices and indicated that Lightning Minerals now holds multiple promising assets, including porphyry-style copper and gold systems in the Lachlan Fold Belt, between Cadia and North Parkes in New South Wales.
Biggs was optimistic about commodity markets, stating, “Even if [gold] drops back to 2800, it doesn't matter. That's still a fantastic price… we can't control prices, but we can control the quality of our projects and the work that we do.”
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