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Highlights
- Lightning Minerals expands into gold and copper with new acquisitions
- Drill-ready projects identified in Queensland and New South Wales
- $2M capital raise to fund immediate exploration
Lightning Minerals Ltd (ASX:L1M) has taken a strategic step forward by acquiring 100% of Lotus Minerals Pty Ltd, unlocking access to two highly prospective brownfield gold and copper projects in Queensland and New South Wales. This move significantly strengthens Lightning’s presence in the critical minerals sector and diversifies its exploration portfolio beyond its existing lithium focus.
Exploration-Ready Assets in Tier-One Locations
The acquisition brings into Lightning’s portfolio the Mt Turner and Lachlan Fold copper-gold projects, both of which are considered drill-ready and carry substantial exploration potential. The Mt Turner Gold Project, located in Queensland’s Georgetown Inlier, is notable for historic drill intercepts such as 16 metres at 3.56 g/t gold and 12 metres at 6.5 g/t gold. Exploration efforts will target extensions beneath existing open pits along the 14-kilometre Drummer Fault.
Additionally, the Mt Turner Copper Porphyry Project adds upside with geophysical surveys having previously identified chargeability anomalies indicative of sulphide mineralisation — a promising sign of copper potential at depth.
Strategic Positioning Near Major Discoveries
In New South Wales, the Lachlan Fold Copper Porphyry Project (Boree Creek) is situated between two of the region’s major copper-gold operations. Historic drilling in this zone returned intersections such as 48 metres at 0.35% copper and 0.31 g/t gold, indicating potential for a large-scale porphyry system.
These developments come at a time when global demand for gold and copper remains robust, driven by economic uncertainty and electrification trends. While Lightning Minerals is not currently an ASX 200 stock, the broader gold and copper sector continues to see attention across the ASX 200 landscape.
Funding in Place to Drive Exploration
To finance the acquisition and upcoming exploration programs, Lightning Minerals successfully raised A$2 million through the issue of 50 million new shares at A$0.04 each. The funding is earmarked for drilling campaigns and further resource evaluation at both Mt Turner and Lachlan Fold, aimed at driving value through discovery and potential resource definition.
This expansion complements Lightning’s international lithium holdings in Brazil, where it continues to monitor market conditions while progressing target generation. With exploration now poised to accelerate across both continents, Lightning Minerals (ASX:L1M) is positioning itself as a key participant in the diversified critical minerals space, with a steady stream of updates expected as drilling progresses.
