LIGHTNING MINERALS Launches A$2M-Funded Phase 1 Drilling at Mt Turner Gold Project in Queensland Amid Lotus Minerals Acquisition
Friday, July 4, 2025
at
9:10 am
Lightning Minerals has commenced Phase 1 drilling preparations at the Mt Turner Gold Project in Queensland. Part of its Lotus Minerals acquisition, the campaign targets near-surface gold mineralisation beneath historical pits—positioning the company to potentially benefit from the current high gold price environment.
Lightning Minerals has initiated site preparations for an upcoming drilling campaign at its Mt Turner Gold Project in Queensland. As part of its proposed acquisition of Lotus Minerals Pty Ltd, the company is advancing with plans to test for gold mineralisation beneath historical open pits along a 6.5 km segment of the Drummer Fault. The initial phase of drilling—scheduled to deliver at least 1,000 meters of drill holes—is expected to commence within eight weeks. In advance, comprehensive site work, including drill pad and road development plus an extensive soil sampling program along 9 km of the Drummer Hill Fault System, is underway.
Historical drill programs have delivered promising technical indicators, with past intercepts including intervals such as 16 meters averaging around 3.56–3.60 grams per tonne gold, and even shorter high-grade segments that recorded up to 6.5 grams per tonne gold. These encouraging results form the basis for the current exploration strategy, which aims to evaluate the extension and orientation of mineralisation at depth that was previously untapped during shallow oxide mining in the 1990s.
Funding appears secure, bolstered by the recent placement of A$2.00 million as part of the Lotus Minerals proposed acquisition, along with an initial investment of A$100,000 from Lotus Minerals to support early soil sampling and infrastructure development. This financial backing allows Lightning Minerals to accelerate its exploration activities and positions the company to trigger further work on additional assets once the acquisition finalises at the upcoming Extraordinary General Meeting.
On one hand, the news offers a bullish narrative. The robust historical intercepts, combined with precise drill targeting under structurally complex fault zones, suggest that significant gold mineralisation potential exists beneath the surface. With gold prices at near all-time highs and fresh capital injected into the project, the groundwork is being laid for what could turn into a valuable discovery, offering a positive outlook for investor returns.
Conversely, caution is warranted. The success of the exploration campaign is contingent upon a range of factors including timely permitting, the ultimate completion of the proposed acquisition, and further verification of historical data. Risks related to early-stage exploration and market volatility remain, meaning that while the technical indicators are promising, actual economic viability is not yet confirmed.
As Lightning Minerals embarks on this intensive drilling program, beginner traders should note both the potential upside from high-grade gold intercepts and the inherent uncertainties typical of mineral exploration projects.