Lightning Minerals Ltd (ASX:L1M, FRA:YZ1) last week announced the appointment of experienced geoscientist and corporate executive Andrew Lambert as exploration and corporate development manager, as the company accelerates its strategic pivot toward Australian gold exploration.
The appointment follows the company’s recent repositioning around the Mt Turner Gold Project in north Queensland, where Lightning Minerals is shifting away from its previous lithium-focused strategy to become a gold-led exploration and development company.
CEO Troy Brice said Lambert brings a combination of geological expertise and commercial acumen that aligns with the company’s next stage of growth. Brice noted that Lambert has extensive experience across financing, capital markets and executive leadership roles within junior resource companies.
According to Brice, Lambert will play a key role in both the divestment of the company’s lithium assets and the expansion of its gold and copper portfolio as Lightning Minerals pursues monetisation opportunities and exploration growth.
The company’s primary focus remains the Mt Turner project, which includes the Warby and Glen Gordon tenement areas. Brice said the project hosts significant gold, lead and copper potential, particularly associated with porphyry-style mineral systems.
Lightning Minerals plans to direct the majority of its exploration and development capital toward Mt Turner, while maintaining a smaller allocation across projects in Western Australia and New South Wales. Brice said the immediate objective is to accelerate work toward a maiden mineral resource estimate for gold.
Brice also highlighted the involvement of veteran mining executive Lee Spencer, who is supporting operational activities at Mt Turner. Spencer has more than 44 years of experience in the sector and is assisting the company as it strengthens its technical capabilities.
Following a recent site visit, Brice said confidence in the project’s potential had increased significantly. “It’s just the potential. It is incredible,” he said during the interview.
The company is preparing to commence phase two drilling at Mt Turner in early June, with a second follow-up campaign planned later in the year. The drilling programs are designed to systematically expand understanding of mineralisation along a 14-kilometre gold strike associated with the Dromedary Fault line.
Upcoming drilling results and progress toward a maiden resource estimate are expected to be key catalysts for Lightning Minerals as it advances its gold-focused growth strategy.
Key highlights
- Lightning Minerals appointed Andrew Lambert as exploration and corporate development manager.
- Lambert brings both technical geology expertise and corporate finance experience.
- The company is undergoing a strategic reset focused on Australian gold exploration.
- Lightning Minerals is transitioning away from lithium to become a gold-led explorer.
- Mt Turner in north Queensland is now the company’s flagship asset.
- Mt Turner includes the Warby and Glen Gordon tenement areas.
- Exploration focus includes gold, copper and porphyry system potential.
- Most future capital investment will be directed toward Mt Turner.
- Additional exploration activities continue in Western Australia and New South Wales.
- The company aims to establish a maiden mineral resource estimate (MRE).
- Lee Spencer is supporting technical development with more than 44 years of experience.
- Phase two drilling at Mt Turner is planned to begin in early June.
- The drilling program targets a 14-kilometre gold strike along the Dromedary Fault line.
Proactive: Lightning Minerals has expanded its technical team as the company pushes ahead with a strategic reset centred on Australian gold exploration. Here to discuss the appointments is CEO Troy Brice. Troy, good to see you again.
Troy Brice: Thank you, Jonathan.
Proactive: So you've brought in experienced geoscientist and corporate executive Andrew Lambert. Talk us through his background and what he brings to the team.
Troy Brice: He’s one of those rare geologists who has commercial capability as well, and a very good strategic-level experience in financing and capital markets as a director and in the C-suite of junior companies. So it’s a very different skill set we are targeting now for this next growth phase of the company.
Proactive: And what will he be focused on?
Troy Brice: Andrew will be leading the divestment of the lithium assets and also the growth of the gold and copper assets as an overall national strategy for exploration and development, as we chase that monetisation need. That is the core focus for us.
Proactive: We’ve talked a fair bit over the last few weeks about exploration, but what does the corporate growth mentioned in today’s announcement look like?
Troy Brice: It is focused on our flagship project, Mt Turner in Queensland, which encompasses the Warby and Glen Gordon tenement project areas as well for gold, lead and copper potential, particularly the porphyry system there. The strategic growth emphasis will see the vast majority of capital investment directed to Mt Turner, with the remaining 20% spread between projects in Western Australia and New South Wales. It’s really about accelerating our achievement of an MRE for gold as our primary mission right now.
Proactive: You’ve been strong on building out this team over the last few weeks. How do you think things are progressing and what can this team achieve?
Troy Brice: It’s a cultural reset, a technical skill set reset and an asset focus reset for us as we define that copper and gold approach. More importantly is the extended support and leveraging from the senior expertise of Lee Spencer, who is leading the operating company teams managing the Mt Turner project for us. Lee’s extensive 44-plus years of experience in these core commodities is incredible to see.
Having spent a week on the ground with him recently, I feel like a student again with the amount of additional knowledge I walk away with every day. He’s passionate and we need the right person in the exploration statutory position to work with Lee to maximise these asset opportunities. The potential is incredible.
Proactive: So let’s finish with that time on the ground last week. What did you see there and how much confidence do you have after returning from site?
Troy Brice: High confidence for sure. I can’t wait to get that drilling mobilisation underway in the early part of June this year and get that first collar in for the phase two drilling campaign, followed by another campaign later in the year. It’s all part of a systematic approach to get to that MRE as a starting point and grow that along the 14-kilometre gold strike on the Dromedary Fault line at the Mt Turner project.
Proactive: Troy, you’ve hit the ground running. Thanks for your time today and I’m sure we’ll be in touch again very shortly.
Troy Brice: Thank you.