Lincoln Minerals (ASX:LML) has identified two additional drill targets for an upcoming drilling program at the Minbrie Copper and Base Metals Project in the Eyre Peninsula of South Australia.
New targets include the Early Blaze target after the company conducted resampling programs on the historical core, with drillhole BUDD179 intersecting 0.7m @ 3.1% zinc, 0.46% lead from 201.3m.
The target identified mineralisation occurring deeper in stratigraphy than previously uncovered in earlier intersections for a different sulphide suite containing pyrite, sphalerite, and galena with visible pentlandite.
Lincoln has also identified the Novamac target as a priority for drilling, for its correlation with the Domine target, hosting similar stratigraphy with anomalous mineralisation in BURCD020.
Mineralisation was spotted below the base of the banded iron formation and above dolomite of the Katunga Formation.
The company will also drill the Domine target in phase one of the program, with drilling to be conducted between the magnetite banded iron formation footwall and Mylonite Shear Zone up and down dip along strike.
CEO Jonathon Trewartha says the company’s recent work has confirmed the presence of a 7km strike of a “large-scale, multi-metal sulphide system” comprising copper, zinc, lead, and silver.
“The identification of two additional drill-ready targets alongside our programmed drilling, adjacent to the BUDD192 discovery hole, highlights the growth potential of the project’s Northern Area, which remains open in all directions,” Trewartha says.
The company is currently awaiting the return of its permitting application from the South Australian Department of Mines, expected to return in November for drilling to follow.
As reported by Mining.com.au, Lincoln recently ran an entitlement issue and follow-on placement raising an aggregate $2.25 million to streamline exploration across the company’s assets in the Gawler Craton region of South Australia.
The offering has ensured the company, which currently has a market capitalisation of $15.46 million, is well capitalised to progress the Minbrie Project with drilling.
Lincoln Minerals is a copper, uranium, graphite, and magnetite explorer focused on advancing its portfolio of assets located in South Australia.
Write to Maddison Elliott at Mining.com.au
Images: Lincoln Minerals
