Lord Resources Limited has reported promising early-stage results from a comprehensive Moving Loop Electromagnetic (MLEM) survey at its Ilgarari Copper Project in Western Australia. The company completed approximately 60 line‐kilometres of a ground-based survey over 34 traverses, which has led to the identification of several high-priority electromagnetic targets. In particular, one of the high-priority targets is aligned along and down-dip of the historic high-grade zones, suggesting a possible extension of copper mineralisation previously inferred from historical underground workings. The survey identified multiple conductive responses, with five targets classified as high-priority – four of which have conductivities over 750 Siemens. These EM targets have refined the known geological setting around the Main and Alac zones, which have previously recorded significant copper intercepts. Lord Resources has now secured all permits for its maiden drilling program, with drilling expected to commence in the coming weeks. The project, situated near Newman and only 120km from a renowned high-grade copper-gold operation, benefits from both strong governmental co-funding via the Western Australian Exploration Incentive Scheme and a beneficial earn-in agreement with Blackrock Resources Pty Ltd, underscoring the company’s commitment to advancing exploration. In addition to the latest survey data, historical exploration information has been detailed at length. While drilling intercepts and past assay data from RC, diamond, and percussion drilling provide valuable geological context, Lord Resources cautions that these historical results have not been independently verified in line with current JORC standards. The focus, however, remains on testing the newly modelled EM plates below 120m, which are not subject to the limitations of earlier exploration data. The recent announcement presents several bullish elements. The identification of multiple high-priority targets using modern geophysical techniques, combined with a fully permitted and government-supported drill program, provides a strong rationale for potential near-term copper discoveries in a relatively underexplored region. Furthermore, the close proximity to one of Australia’s highest grade copper operations adds additional credibility to the exploration potential. On the other hand, the bearish perspective lies in the inherent risks typical of early-stage exploration projects. The reliance on historical data – which has not been verified under current standards – and the uncertainties associated with modeling geophysical data mean that substantial further work is required. This, coupled with the exploration-stage nature of the project, means that investors must remain cautious about the anticipated future production and value realization of the Ilgarari Copper Project.