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IT
Litchfield Minerals Identifies Additional Anomalies with IP Survey at Silver Valley
['Imelda Cotton']
Small Caps
An initial induced polarisation (IP) survey completed last month by Litchfield Minerals (ASX: LMS) at its Silver Valley project in the Northern Territory has provided new information on the geometry of the mineralised system.
Three planned survey lines totalling 5.1 line kilometres have materially improved the company’s understanding of the project’s mineralisation, with the northern IP line containing a chargeability response immediately west of the known Silver Valley workings.
High-grade AssaysThe initial IP survey followed recent high-grade rock chip assays from the Silver Valley area which graded up to 378 grams per tonne silver, 44.9% lead and 5.04% copper.
Field reconnaissance at Silver Valley in May returned new rock chip samples collected from dumps next to historical shafts and workings and generating results of 470g/t silver, 23.2% lead and 19.2% copper; and 342g/t silver, 36.8% lead and 16.1% copper.
Litchfield is now prioritising follow-up work to better understand the relationship between the chargeability responses, deeper structural features and the known high-grade silver mineralisation at Silver Valley before launching a revised IP program.