What was the outcome of the latest drilling at the Litchfield Minerals (ASX:LMS) Oonagalabi Project?

Litchfield Minerals has completed a 14-hole drilling programme, consisting of 11 reverse circulation and three diamond drill holes, at its Oonagalabi copper-zinc site in the Northern Territory.

Why is the Silver Valley sampling result significant for Litchfield Minerals (ASX:LMS) investors?

Recent rock-chip sampling at the Silver Valley prospect yielded high-grade results, specifically peak grades of 378g/t silver and 44.9% lead. This confirms the presence of a polymetallic system that includes copper and gold, suggesting a large-scale, structurally controlled mineralised system.

What are the key mineral grades identified at the Silver Valley prospect?

The sampling programme at Silver Valley returned exceptional peak values of 378g/t silver, 44.9% lead, 5.04% copper, and 0.91g/t gold. A second notable sample recorded 128g/t silver and 16.1% lead.

How does the Silver Valley discovery change the Litchfield Minerals (ASX:LMS) investment thesis?

The Silver Valley results shift the narrative from a single-project focus to a dual-prospect strategy with "near-term opportunity" for value creation. Management believes the high-grade silver and lead found at the surface likely extends at depth and beneath shallow cover.

What are the main risks for Litchfield Minerals (ASX:LMS) following this update?

The primary risk is "assay risk," as the company is currently waiting for laboratory results from the Oonagalabi drilling to confirm if the visual anomalies contain economic grades of copper and zinc.

What is the strategic significance of the BHP Xplor Program for Litchfield Minerals (ASX:LMS)?

Litchfield Minerals is currently participating in the BHP Xplor Program, a global accelerator for copper and nickel exploration. The company intends to outline its specific workstreams and the strategic rationale behind its involvement in an upcoming webinar.

Litchfield records high-grade silver and finishes drilling

Written by Jon CuthbertPublished Apr. 23 2026Last Updated Apr. 23 2026

Litchfield Minerals (ASX:LMS) confirmed the completion of its latest drilling campaign at the Oonagalabi Copper-Zinc Project while simultaneously recording high-grade sampling results from its nearby Silver Valley prospect.

The Northern Territory explorer finalised an 11-hole reverse circulation and three-hole diamond drilling programme designed to test critical magnetic anomalies and extensions to the known "Main Zone".

While core samples have been dispatched for laboratory analysis to define future regional targets, the company’s focus has sharpened on the burgeoning potential of the Silver Valley site.

Recent rock-chip sampling at Silver Valley has yielded exceptional results, including peak grades of 378g/t silver and 44.9% lead, alongside notable copper and gold mineralisation.

The findings reinforce the interpretation of a robust, structurally controlled mineralised system that likely extends well beneath shallow cover.

Managing Director Matthew Pustahya described the data as a "compelling near-term opportunity" for rapid value creation, noting that the presence of extensive quartz reefs and visible sulphides suggests the system remains well-preserved at depth.

Litchfield plans to return to the field next month to delineate specific drilling targets across the tenement.

At the time of reporting, Litchfield Minerals’ share price was $0.40.