Lord Resources (ASX:LRD) extends high-grade copper zones at Ilgarari Project

Lord Resources Limited (ASX:LRD) has reported strong assay results from its recent diamond drilling program at the Ilgarari Copper Project in Western Australia, confirming high-grade copper mineralisation and extending the known mineralised zones across both the Tailings and Hidden Lodes.

The results validate earlier visual reports and reinforce confidence in the company’s electromagnetic (EM) conductor model, which continues to accurately predict copper-bearing structures.

To provide further context on the results and their implications for ongoing exploration, Paul Lloyd, Chairman of Lord Resources Limited, discussed the findings and outlined the next steps for the Ilgarari Project.

What do these assay results tell us about the potential of the Ilgarari Copper Project?

The latest round of diamond drilling has provided a robust technical confirmation of the company’s geological model, with assays verifying copper mineralisation and extending both the Tailings and Hidden Lodes.

Results include 1.5 metres at 3.20 percent copper in hole 25IRC002D and 0.7 metres at 4.59 percent copper in hole 25IRC011D, both demonstrating the strength of the mineralised system and its potential for further extensions.

“These first results from the diamond drilling at Ilgarari are a fantastic start in building the picture for substantial deeper mineralisation. We are particularly encouraged by the high-grade assays and extension of the Tailings Lode and look forward to receiving assays for the remaining four drillholes.”

Drilling has extended the Tailings Lode more than 330 metres down-plunge to the northeast, directly coinciding with the modelled EM conductor.

The Hidden Lode has also been extended 70 metres down-dip and 100 metres along strike, confirming that the mineralisation remains open in multiple directions.

Together, the results validate the accuracy of the company’s geophysical modelling and support the next phase of exploration.

How do these new results compare to previous drilling outcomes?

The new results have significantly advanced the company’s understanding of the Ilgarari mineral system while verifying earlier geological interpretations.

Hole 25IRC011D was drilled to twin an earlier reverse-circulation hole (25IRC003) that had been abandoned due to poor sample recovery and difficult drilling conditions.

The new diamond hole successfully intersected the same chalcopyrite–quartz structure at similar depths, providing representative samples for the first time and confirming the continuity of high-grade copper mineralisation.

“The assays confirm and extend copper mineralisation at both the Hidden and Tailings Lodes and validate the down-plunge EM conductor model.”

Hole 25IRC011D returned 3.7 metres at 1.39 percent copper, including 1.1 metres at 3.74 percent copper, as well as 0.7 metres at 4.59 percent copper. Hole 25IRC002D recorded 1.5 metres at 3.20 percent copper from 308 metres, while hole 25IRC006D at the Hidden Lode delivered a broad 10-metre zone at 0.59 percent copper from 156 metres, with additional shorter intervals exceeding 1 percent copper.

Collectively, these results confirm both the grade reliability and geological consistency across the Ilgarari system, establishing a strong foundation for future drilling.

What makes the Tailings and Hidden Lodes particularly important to Lord Resources exploration strategy?

The Tailings and Hidden Lodes are key exploration targets because they represent two distinct yet complementary mineralised systems that underpin the overall scale and potential of the Ilgarari Project.

The Tailings Lode has produced the highest copper grades to date, with multiple intercepts above 3 percent copper, while the Hidden Lode continues to demonstrate broad zones of continuous mineralisation.

“Hole 25IRC006D returned a broad zone of copper mineralisation consistent with the visually observed minerals previously announced, extending the known extents to mineralisation.”

The Tailings Lode’s alignment with a strong EM conductor further enhances confidence in the company’s geophysical approach, providing a reliable method for defining future drill targets.

The Hidden Lode extends mineralisation 60 metres down-dip and 100 metres along strike, suggesting that both lodes remain open and continue to present opportunities for expansion. Together, they form a dual-target system that supports a balanced exploration approach focused on both depth and strike extensions.

What are the immediate next steps following this round of drilling?

Lord Resources is now integrating the new assay results and structural data into an updated geological model, which will guide the next phase of exploration at Ilgarari.

Four drillholes from the current program still have assays pending, with results expected in November. Once received, these will be incorporated into the model to refine the geometry of the mineralised zones and identify additional high-priority targets.

Depending on the updated interpretations, a down-hole electromagnetic survey may be conducted to provide greater resolution around the high-grade zones.

Planning is already underway for a second phase of drilling that will pursue down-plunge and along-strike extensions at both the Tailings and Hidden Lodes, while testing new conductor-related targets identified through EM data.

This structured and data-driven approach will ensure that exploration continues to build upon the strong technical base established during this initial program.

Can you provide some background on Lord Resources position and involvement at Ilgarari?

The Ilgarari Copper Project is located approximately 110 kilometres south of Newman in Western Australia, within exploration licence E52/2274.

Lord Resources has an earn-in agreement with Blackrock Resources Pty Ltd, giving it the right to acquire up to an 80 percent interest in the sulphide mineral rights below 120 metres from surface by funding $1.5 million in exploration expenditure over four years.

The company also holds 100 percent applications over two adjoining licences, E52/4403 and E52/4405, providing a strong land position across the broader Ilgarari district.

The area hosts historical copper workings and shallow oxide mineralisation, though Lord’s focus is on deeper sulphide mineralisation associated with dolerite and shale contacts within the Bangemall Basin.

Drilling has confirmed the presence of chalcopyrite, chalcocite, and native copper in fault-controlled structures, with recent assays quantifying these mineralised zones at depth.

Ilgarari remains an important component of Lord’s Western Australian portfolio, which also includes exposure to gold and lithium assets, reflecting the company’s broader focus on future-facing metals.

High-grade results reinforce Ilgarari’s exploration momentum

The first phase of diamond drilling at Ilgarari has confirmed high-grade copper extensions, verified the company’s EM conductor model, and demonstrated the reliability of both geophysical and geological interpretations.

The program has successfully extended multiple mineralised zones and returned assays that validate earlier field observations, setting a strong technical foundation for continued exploration.

“Results validate earlier visual copper reports and support additional exploration activities targeting a Phase 2 program at Ilgarari.”

With further assays pending and a second drilling phase now in planning, Lord Resources is well positioned to advance Ilgarari through systematic and data-driven exploration that continues to build upon its growing understanding of the copper system.

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