Lightning Minerals (ASX:L1M) has identified a Climax-style porphyry molybdenum target at its Mt Turner Gold Project in North Queensland.
The company has identified three independent exploration vectors that converge at the 3.7km² Eastern Rhyolite Complex (ERC), including a 600m by 400m annular molybdenum soil anomaly exceeding 30 parts per million (ppm), and oxidised stockwork veining at surface with handheld XRF readings of up to 1,400ppm molybdenum.
Lightning also flagged a coincident induced polarisation (IP) chargeability response at approximately 120m depth, which the company says potentially indicates copper mineralisation that can be confirmed by drilling.
Managing Director Troy Brice says the ERC is a ‘compelling’ new target identified through the company’s review of historical datasets from Mt Turner.
“What makes this particularly compelling is the convergence of three key and independent indicators,” Brice says.
“It confirms our exploration model of a centralised porphyry system with peripheral gold mineralisation, localised by surrounding structures.”
The ERC comprises multi-phase felsic rhyolites and quartz-eye porphyry intrusives within basement granite, associated with rhyolite dyke swarms, multi-phase breccias, and stockwork veining.
Lightning integrated approximately 3,500 historical soil samples with reprocessed aeromagnetic and IP data to identify the target, which the company notes remains undrilled.
“The 49 soil samples now at the laboratory will validate the anomaly and define drill targets,” Brice says, noting that assay results remain pending.
Mt Turner is the priority flagship asset in the company’s 2026–2029 Strategic Plan. Lightning says the ERC target adds strategic critical minerals exposure to the project, which already hosts a 14km gold system along the Drummer Fault and Western Zone gold soil anomaly.
Following receipt of the assay results, Lightning intends to undertake targeted geological mapping and follow-up surface sampling across observed stockwork veining. It will then use these vectors to target a maiden reconnaissance-style drill program.
“Molybdenum is increasingly recognised as a strategic critical mineral, and identifying a target of this calibre is an exciting development for shareholders,” Brice concludes.
Lightning Minerals is an explorer and developer focused on gold, copper, tungsten, and molybdenum projects across its Australian portfolio.
Write to Paula Fabe at Mining.com.au
Main image: Lightning Minerals
