Lord Resources (ASX:LRD) said the completion of a ground gravity survey at its Ilgarari copper project in Western Australia delivered drilling targets, according to a Friday Australian bourse filing.
The survey identified several gravity anomalies at the project, which coincide with known copper mineralization.
The firm will plan a ground-based electromagnetic survey to accurately map subsurface features associated with the anomalies, after which drilling will begin.
It completed due diligence and began an earn-in agreement with Blackrock Resources to acquire an 80% interest in all rights to minerals at the project located below 120 meters from the surface.
It paid a further AU$75,000 in cash and issued 4.2 million ordinary fully-paid shares to Blackrock, under its existing placement capacity as part of the earn-in deal.
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