Litchfield survey lights up big NT copper-zinc targets

Litchfield’s confidence had begun to increase following drilling in the VT2 borehole in October, reaching semimassive and massive sulphides from 180m to 291m. Among the sulfides, pyrrhotite, chalcopyrite, sphalerite and pyrite dominated; all were housed within dense, iron-rich intrusive rocks.

The rocks in VT2 also appear to be part of a feeder system that sits beneath the diffuse halo that forms around the anticline toe of a much larger structure.

In addition to the prospect’s credentials, and unlike many other classic Northern Territory deposits, the VT2 prospect is blind on the surface. With no signs of erosion, outcropping or geochemical seepage to indicate its existence, the system appeared completely untouched until modern geophysics began to lift its cover.

Litchfield says the broader picture at Oonagalabi is now starting to come together, thanks to new 3D magnetic inversion mapping. What emerges is a deep-seated, potentially large intrusion-associated sulphide system with disseminated mineralization closer to the surface, possibly formed by fluids flowing upward from a hidden underlying intrusive structure.

Looking forward, Litchfield plans to launch a new ground EM survey later this month to clarify the geophysical picture. The company will also complete the remaining IP lines north of Bomb Diggity and southeast of VT2 to follow the area below the eastern flank of the anticline.

Once the data is received, the company plans to put the rigs back online with a much more precise drilling plan.

With a growing array of targets, strong structural controls, and a system that looks both solid and deep, Litchfield now finds himself in a true elephant hunt.

For bettors following Litchfield, the next few months will provide plenty of news flow as the company shifts its focus from an early-stage exploration project to a large-scale persuasion play.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au