Lightning Minerals Ltd (ASX:L1M, FRA:YZ1) has kicked off exploration at its Mt Turner project in Queensland with a highly successful maiden drill program in the December quarter, confirming gold and base metal mineralisation in every hole drilled and setting the stage for a second phase of drilling in early 2026.
The December quarter marked a step-change for the company, with its first nine-hole drill campaign intersecting multiple zones of high-grade epithermal gold alongside strong zinc, lead and silver mineralisation. Follow-up soil and rock chip sampling has expanded the project’s target footprint, while a $2.5 million capital raise has fully funded the next phase of exploration. The company also strengthened its board during the quarter with the appointment of experienced mining executive David Vilensky as non-executive chairman.
Isometric view of Mt Turner Project demonstrating Phase 2 drilling and soil sampling priority areas
Quarter highlights
Maiden drilling success at Mt Turner (Queensland):
- Nine-hole inaugural drill program completed
- Gold and base metal mineralisation confirmed in all holes
- High-grade epithermal gold intersected, such as 20.4m @ 2.4g/t Au from 63m, including 1.9m @ 10.5g/t Au1.8m @ 10.6g/t Au, and 27.1g/t Ag from 77m
Strong zinc and silver intersections:
- 17.2m @ 6.2% Zn, 1.4% Pb and 10.3g/t Ag from 32m
- Including 5.0m @ 11.6% Zn, 0.5% Pb and 12.4g/t Ag from 43.8m
Target expansion through surface sampling:
- Soil and rock chip sampling returned multiple new targets
- Rock chip samples up to 21.9g/t Au
- Mineralisation extended 2.7km west along the Drummer Fault, lifting the known strike length to 12km
Next phase locked in:
- Planning and targeting completed for Phase 2 drilling at Mt Turner
- Drilling scheduled to begin in Q1 2026
- $2.5 million capital raise completed, fully funding the next program
Broader portfolio progress:
- Ongoing target generation at the Esperança, Caraíbas and Canabrava lithium projects in Minas Gerais, Brazil
Board strengthened:
- David Vilensky appointed non-executive chairman, bringing extensive public company and mining experience
Expanded targets and Phase 2 drilling plans
Managing director Alex Biggs said the quarter represented a major inflection point for the company following the delivery of strong first-pass drilling results.
“With fantastic results from our first drill program at our Mt Turner project in Queensland we are now set up for Phase 2 of drilling,” Biggs said.
“We believe that the Mt Turner project has the potential to host a significant gold system. From acquisition of the project in July 2025 to completion of drilling in November 2025, not only have we achieved some fantastic drilling results, we have also identified multiple additional target areas, including the extension of the known mineralisation 2.7km to the west along the Drummer Fault.”
Biggs said recent surface sampling had further validated the company’s exploration model, providing confidence heading into the next phase of drilling as Lightning Minerals looks to build on its early momentum in 2026.