Lincoln Minerals (ASX:LML) has confirmed mineralisation continues up dip at the Eagle Ridge discovery within its Minbrie Copper Project in South Australia, supporting diamond drilling planned for the December quarter.
The company recently completed 25 aircore holes for 1,632m across the project on the Eyre Peninsula. However, groundwater caused most holes to finish before reaching the targeted basement rocks.
Three holes that reached the basement were drilled at Eagle Ridge. Hole MBAC022 intersected 6m @ 0.26% lead (Pb) and 0.22% zinc (Zn) from 90m on the eastern edge of the interpreted mineralised zone.
Lincoln says the result is consistent with the final 2m of the original Eagle Ridge discovery intercept, which returned 29.5m @ 0.8% copper (Cu), 7.5% Pb, 1.9% Zn, and 9 grams per tonne silver (Ag) from 131.1m.
Hole MBAC023 also returned anomalous lead and cobalt on the western edge of the interpreted zone.
CEO Chris Wilcox says the program improved the company’s understanding of the cover sequence and supported its geological model despite difficult drilling conditions.
“Our goal was to confirm this system, which it has done with these results and we now have a clearer understanding of how to advance our exploration,” Wilcox says.
Lincoln says it plans to test the mineralisation down dip and along strike through targeted diamond drilling in the December quarter.
The company controls 17km of target stratigraphy at Minbrie, including about 1.7km of untested strike at Eagle Ridge. A review and re-assaying of the historical core in 2025 identified copper and base metal mineralisation that had not been tested during earlier iron ore exploration.
Separately, Lincoln has issued 25.8 million shares under an introduction agreement connected with a placement announced in May 2026.
The shares were issued without cash consideration, valued at $0.012 per share, or about $310,000. Lincoln says no further securities are required to complete the transaction.
Lincoln Minerals is a South Australian mineral exploration and development company focused on copper, graphite, silver, and other base metals.
Write to France Pinzon at Mining.com.au
Images: Lincoln Minerals
