Key Highlights

  • Drilling at Oonagalabi began on 12 October 2026 after a Topdrill rig was secured, with the company anticipating around 8 to 10 holes.
  • A new 384 square kilometre exploration licence, EL34245, covers the undrilled Sybil copper target at Harts Range, with 19 rock chip assays pending.
  • Closing cash was A$4.0 million, with an estimated 6.7 quarters of funding and 66,303,558 shares on issue.

Quarter in summary

Litchfield Minerals (ASX:LMS), a Northern Territory copper explorer, released its quarterly activities report and Appendix 5B on 28 October 2026 for the quarter ended 30 September. Closing cash was A$4.0 million, made up of A$2.0 million in bank balances and A$2.0 million in call deposits. The company estimated 6.7 quarters of funding. Shares on issue were 66,303,558.

Oonagalabi drilling

A Topdrill rig was secured and a dozer mobilised for pad preparation at Oonagalabi. The report said drilling was scheduled for 8 October and began on 12 October 2026; the report gives both dates in different sections, and 12 October is the date of the commencement announcement. The candidate plan in September had 11 holes of 120 to 200 metres each, totalling 1,820 metres, although the company anticipated 8 to 10 holes and described the post-quarter program as about 7 to 11 holes.

The report restated the final Phase 3 result from hole OGDD003, 5.3 metres at 0.64 per cent copper, 0.67 per cent zinc and 2.2 grams per tonne silver from 49.5 metres. Earlier intercepts were 68.26 metres at 0.62 per cent copper, 1.44 per cent zinc and 4.3 g/t silver from 10 metres in OGDD002, and 120 metres at 0.35 per cent copper, 0.92 per cent zinc and 4.1 g/t silver from 52 metres in OGRC029. All widths are downhole. A combined magnetotelluric and gravity survey was completed by Planetary Geophysics with up to A$100,000 of co-funding from the Northern Territory Geological Survey, but no results were reported.

Harts Range

A new exploration licence, EL34245, of about 384 square kilometres was granted on 30 July 2026. It covers the undrilled Sybil copper target, about 33.6 kilometres south-east of Oonagalabi. A September reconnaissance visit visually identified chalcopyrite and malachite staining, and Mitre Geophysics modelled seven preliminary conductor plates, with the clearest observations at one labelled P4. At Illogwa Creek, geologists observed sulphide-bearing mafic rocks, including pyrite, chalcopyrite and possible pyrrhotite, along the Illogwa Creek Shear Zone.

Nineteen rock chips, 12 from Sybil and seven from Illogwa, were sent to Bureau Veritas on 21 September and assays were still pending. The company stressed that the mineral identifications are visual only and that no grades are implied. Follow-up ground electromagnetic surveys were being organised.

Silver Valley

An initial induced polarisation survey from 8 to 17 July covered three of five planned lines, totalling 5.1 line-kilometres, and did not define a discrete high-priority drill target. The survey was paused so the remaining lines could be reassessed. Rock chip results announced on 10 August included 470 g/t silver, 19.2 per cent copper and 23.2 per cent lead in sample SV2_06, and 342 g/t silver, 16.1 per cent copper and 36.8 per cent lead in SV2_08. The company noted such samples are selective and not representative of grade or continuity.

Cash flow and corporate

Operating cash outflow was A$347,000 and investing outflow A$255,000, with opening cash of A$4.603 million. Exploration expenditure was A$250,000 and director fees paid to related parties were A$88,000. Corporate activity included the launch of a new website and investor hub on 7 July and a BHP Xplor Showcase presentation on 18 September. The company reported no material activity at Lucy Creek.

Tenure and capital structure

All of the company's tenements are held at a 100 per cent interest. Granted licences include Mount Doreen, Lucy Creek, Oonagalabi, Paradise Well and Silver Valley, and further Harts Range applications are pending. At 30 September the company had 6,250,000 performance rights, of which 250,000 had vested, and 7,535,000 unlisted options.

Next steps

The near-term milestones are the Oonagalabi drilling results, the pending Harts Range assays, ground electromagnetic surveys, and the reassessment of Silver Valley. Exploration results do not amount to a Mineral Resource, and the report does not confirm any resource estimate for these projects.