Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Lord Resources FY26 Report Highlights Copper Exploration Growth at Ilgarari Project
Highlights
Ilgarari Copper Project Drives FY26 Exploration Progress
Lord Resources Limited (ASX: LRD) released its FY26 Annual Report on 25 September 2026, covering the financial year ended 30 June 2026. The company reported a year of significant exploration activity, with its primary focus on the Ilgarari Copper Project in Western Australia, where drilling and geophysical programs identified extensions of copper mineralisation across multiple zones.
During FY26, Lord completed a moving loop electromagnetic (MLEM) survey and an 11-hole RC and diamond drilling program at Ilgarari, located approximately 110 kilometres south of Newman in Western Australia. The company conducted around 60 line kilometres of ground MLEM surveys, identifying several high-priority conductors that helped refine drill targets around the Main and Alac zones.
Drilling Confirms Copper Mineralisation Extensions
The drilling campaign comprised 2,280 metres of RC drilling and 1,535.4 metres of diamond drilling, for a total of 3,815.4 metres. The program tested extensions to known mineralisation, electromagnetic targets beneath historic workings and geophysical anomalies between key mineralised areas.
Results confirmed and extended copper mineralisation at the Tailings Lode and Hidden Lode, supporting the company’s structural interpretation of the Ilgarari Fault system. At the Hidden Lode, drilling returned a broad mineralised zone, including 10 metres at 0.59% copper from 156 metres, with higher-grade intervals within the intercept.
Diamond drilling also extended the Tailings Lode approximately 330 metres down-plunge from historic high-grade workings, reinforcing the potential for further exploration success.
Portfolio Strategy Remains Diversified
Beyond Ilgarari, Lord continued advancing its broader exploration portfolio. At the Horse Rocks Lithium Project, the company worked with joint venture partner Mineral Resources Limited, which funded project expenditure during the period. The Jingjing Lithium Project also remained drill-ready following completion of heritage surveys and identification of lithium exploration targets.
The company also reviewed its gold assets, with further exploration planned at Jarama following encouraging historical drilling results. The Gabyon Gold Project was relinquished after year-end as Lord focused resources on higher-priority projects.
Outlook
Lord Resources enters FY27 focused on advancing Ilgarari as its flagship exploration asset, integrating drilling results with geophysical datasets and identifying further copper targets. The company will continue evaluating new opportunities while progressing exploration across its copper, lithium and gold portfolio.
Note- All data presented is based on information available at the time of writing.
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