Lightning Minerals Ltd (ASX:L1M) earlier this week confirmed gold mineralisation in eight out of nine drill holes at its Mt Turner project in Queensland.
The company said the results mark the end of its phase one drilling campaign, which was designed to validate the target-rich environment and test the scale and potential of the project. It confirmed that mineralisation was encountered along the Drummer Fault, including intersections of epithermal high-grade gold and accompanying base metals such as zinc.
It highlighted that soil and rock chip sampling extended the known mineralised strike to 12.00 kilometres. High-grade samples, including one result of 22 grams per tonne gold, were recorded around 2.50 kilometres west of Pit 6.
The company said Mt Turner hosts multiple mineral systems, including copper porphyry, base metals, and gold. It acquired the project in late June 2025 and completed phase one drilling within months.
Managing Director Alex Biggs said, “This is a project that presents scale grade. Once we start drilling again to follow up on this, it gives us a great opportunity to start building a resource.”
Lightning Minerals said historical mining from the 1980s and 1990s had already indicated the potential of the region, with six pits now included in the company's exploration focus.
It is now planning a phase two drilling campaign. Targets are being prioritised based on recent soil and rock chip data. Biggs said Pit 3 and Pit SA would likely be the starting points, following a previous result of 20.00 metres at 2.50 grams per tonne from only 60.00 metres depth.
The company said it also intends to dedicate around 20.00% of phase two drilling to Wildcat targets. These include areas with strong structural indicators, positive geochemical results, and historical mining data.
The company said Mt Turner has quickly become its core focus and provides a strong platform for further exploration into 2026.
Proactive: Lightning Minerals has intercepted multiple new gold targets across the Mt Turner project. Lots to discuss this morning with the company’s Managing Director, Alex Biggs. Alex, it’s good to see you again. How are you?
Alex Biggs: I’m great, thanks. How are you?
Proactive: I’m very well, thank you Alex. You’ve intersected gold in eight of nine holes. Investors are quite happy, and there are now multiple gold targets identified. What more can you tell us today, Alex?
Alex Biggs: It’s been a busy weekend and a busy few weeks for us here at Lightning. Since acquiring Mt Turner, we’ve spoken a lot about the target-rich environment there — that’s why we acquired the project. Today’s announcement is the final one from the drilling we’ve just completed. We’ve intersected mineralisation in eight of those nine holes along the Drummer Fault, which is significant. This drill program was a confirmation exercise: confirming the target-rich environment, confirming there’s gold, confirming the potential of the Drummer Fault, and confirming scale. We’ve done that.
We’ve also completed soil and rock chip sampling across the Drummer Fault, both east-west and north-south. That’s identified multiple targets. One key result was high-grade rock chips — up to 22 grams per tonne gold — about 2.5 kilometres west of Pit 6. That extends the known mineralised strike to 12 kilometres. We’ve had results like over 20 metres at 2.5 grams per tonne and multiple intersections of epithermal high-grade gold, which we know is part of this system. There’s some zinc as well. This is a significant opportunity — we have a copper porphyry system, a base metals system, a gold system, and epithermal gold. It’s a project that presents scale and grade, and when we start drilling again, it’s a great opportunity to start building a resource.
Proactive: Let’s zoom in on the Drummer Fault. You mentioned it now gives you 12 kilometres of known mineralised strike. Can you remind investors of the importance of the Drummer Fault?
Alex Biggs: The Drummer Fault on our tenure is 14 kilometres long. It’s visible on satellite imagery with a clear east-west strike. There was historical mining there in the 1980s and 90s — six pits, which we’ve now targeted. They saw the potential back then. We’ve now drilled below those pits and confirmed gold, and extended the strike to the west. So we’ve now got 12 kilometres of known mineralisation. It’s a very target-rich environment with lots of potential moving forward to build a resource. It’s a fantastic project in Queensland — a great jurisdiction to operate. We’re very happy to have this project in our portfolio. It’s our focus now. We only acquired it at the end of June or start of July, and have already completed phase one drilling. That sets us up nicely for 2026.
Proactive: The Mt Turner gold project has been delivering for weeks with multiple intercepts. What can investors expect in the next few weeks as we head towards Christmas?
Alex Biggs: This wraps up the first drill program. We’re working on a strong follow-up phase two drill program and will notify the market in due course. We’ve got to do vectoring with soil and rock chip samples. We’ll prioritise targets. Pit 3 and Pit SA, to the east of the Drummer Fault, look like a good place to start — we hit 20 metres at 2.5 grams per tonne there at just 60 metres depth. We want to step back and test deeper. We’re also looking at repeated structures north and south. That’s probably where we’ll begin phase two.
We’ll also dedicate around 20% of drilling to Wildcat targets — areas with strong soil anomalies and rock chip results where structural indicators are positive. There’s also historic mining going back more than 100 years. All of this builds into our exploration model. We’ve got a thesis for Mt Turner — and most importantly, it’s a target-rich environment with lots of drilling to come. We’re really happy. This closes out the year well.
Proactive: You’ve brought good news over the past few weeks. Thanks for your time.
Alex Biggs: Thank you very much.