Lightning Minerals Ltd (ASX:L1M) earlier this week reported early high-grade results from its maiden drill campaign at the Mt Turner Gold Project in northwest Queensland.
The company said the first hole in the nine-hole program returned 20 metres at 2.5 grams per tonne gold, including a high-grade component of 10.5 grams per tonne. It highlighted that this confirmed strong near-surface mineralisation.
Managing director Alex Biggs said the initial aim was to demonstrate gold mineralisation, grade, and scale at the project, and noted that all three had now been established from this first result.
The company told investors that drilling is focused along the Drummer Fault structure, which spans 14 kilometres. Current activity is targeting a 6-kilometre stretch, which includes the historic Rocky Reward pits to the west.
It said multiple oxide pits were mined along the structure in the 1990s, confirming known gold mineralisation. Biggs said holes four to nine from the current campaign would be released in coming weeks.
The company is also targeting silver at the Cobar area and gold again at Rocky Reward. Soil sampling and rock chip assay results are pending and will support ongoing target generation.
Lightning Minerals said planning is already under way for a follow-up drill program expected to begin in 2026.
Proactive: Blinding Minerals has intersected high-grade gold at Mount Turner in Queensland. This is quite a development. All the details with the company's managing director, Alex Biggs. Alex, it's good to see you again. How are you?
Alex Biggs: I'm good, thanks. And how are you?
Proactive: Very well, thank you. Alex, this is a major development. We've had a big story last week, and now you've nearly completed a nine-hole campaign. We've seen more gold. What's the verdict, Alex?
Alex Biggs: Yeah, this is a great step for us as a company. I mean, this is our first hole in this nine-hole campaign. The purpose of this campaign is to confirm that we have strong gold mineralisation at Mt Turner. We've done that. I mean, intersections over 20 metres at 2.5 grams per tonne with a high-grade component there of 10.5 grams per tonne.
That's really significant. It's about demonstrating that there's potential at Mt Turner — number one. Then it's about demonstrating that there's grade — which we've proven. Then it's about demonstrating scale. So we've done that in this first hole. There’s more results to come in the coming weeks.
But this is what we see as a significant step for the company. This project, it's just at the start. We think there's a huge opportunity here to define a significant gold resource. So this is step one.
Proactive: So this is step one essentially, Alex. It's a major step forward. Follow-up drilling is now being planned. Up next. And we've got more solid proof of the huge potential that Mt Turner continues to bring for investors. What can they expect in the coming weeks?
Alex Biggs: I mean, let's look at Mt Turner like this. The Drummer Fault, which is what we're drilling at the moment, it's 14 kilometres long. We're drilling along a strike of about six kilometres, with the Rocky Reward pit at the furthest west — we started here at pits three and five.
When we look at that alone and the previous mining along that Drummer Fault — multiple oxide pits were mined in the 1990s — we know there's gold there. Demonstrating the targeting potential moving forward is what feeds into the next drill campaign.
So we're already thinking about that, already planning that. In the next few weeks, the remaining holes from this drill program — holes four to nine — will be coming. The next set of holes will be targeting Cobar, which is potentially high in silver. We've seen some good silver mineralisation there.
The final holes will be at Rocky Reward, six kilometres to the west. That will be gold again. So there's a lot of news flow to come.
We've also completed a soil sampling and rock chip campaign, and we're waiting on assays from that. That will then feed into supporting this targeting strategy.
There are multiple targets at Mt Turner, multiple gold targets. So we've got a very busy few months ahead, and this will lead into a new drill program which will be started in 2026.
Proactive: And lots and lots more gold being intercepted. I think investors have quite a fair bit to look forward to at Mt Turner. This was Lightning's managing director Alex Biggs. Thank you so much.
Alex Biggs: Thank you.