Litchfield Minerals Raises AU$1.5 million to Fund Drilling at Oonagalabi

Litchfield Minerals Limited (ASX: LMS) announced that at the time of writing it has completed its oversubscribed shortfall offer, adding AU$527,000 and bringing total funds raised under its capital initiatives to AU$1.5 million. The strong demand from shareholders and new investors highlights growing confidence in the company’s flagship Oonagalabi Project in the Northern Territory.

With the fresh capital, Litchfield is set to commence a 14-hole drilling campaign in late September. The program will test gravity, magnetic, and VTEM conductor anomalies across multiple high-priority targets, including areas of confirmed mineralisation and zones with strong copper, gold, and bismuth potential. Managing Director Mathew Pustahya noted that the exploration program will focus on testing Oonagalabi’s scale potential, which exhibits features consistent with large mineral systems. Results from drilling are expected to provide critical insights into the project’s growth prospects.

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