Litchfield Minerals

What Litchfield Minerals does

Litchfield Minerals Limited (ASX: LMS) is an Australian early-stage mineral exploration company focused on copper and other critical minerals in the Northern Territory. Founded in 2016 and listed on the ASX in February 2024, the company holds six granted Exploration Licences covering a combined 3,205km² in the North Australian Craton, with its flagship Oonagalabi Cu-Zn-Ag-Au deposit (145km²) located 120km northeast of Alice Springs. Supporting projects include Mount Doreen (base and precious metals, 458km²), Lucy Creek (manganese, base metals and REEs, ~1,600km²), Paradise Well (IOCG-style copper-gold and REEs, 248km²), and Silver Valley (polymetallic lead-silver-copper-zinc-gold, 165km²). The company targets ASX investors and capital markets as its primary constituents, with future revenue realisation expected through discovery-related transactions or eventual development into a producing mine.

The core technology stack combines conventional exploration geophysics with systematic drill testing. Litchfield integrates Sentinel remote sensing, rock and soil sampling, drone magnetics, induced polarisation (IP) surveys, and electromagnetic (EM) surveys to define drill targets, then tests them with reverse circulation (RC) and diamond drilling. At Oonagalabi, IP and EM work has delineated a 5km prospective corridor linking the VT1 and VT2 targets with chargeability anomalies and EM conductor plates up to 3,000 Siemens; pole-dipole IP has defined two +1km high-chargeability zones extending to at least 500m depth. Phase 2 drilling returned 128m at 0.60% copper and 1.0% zinc from 23m depth, with significant intercepts of 148m of copper-zinc mineralisation. The geological setting is interpreted as a carbonate-replacement or skarn-type environment with SEDEX-style potential, comparable to the Jervois base-metal sulphide system in the same province.

The business model is a capital-raising driven exploration GTM. Litchfield is pre-revenue, funding activities through equity issuance (A$1.0M Share Purchase Plan at A$0.10/share in August 2025, prior ASX IPO proceeds) and non-dilutive grants (US$500K from BHP's 2026 Xplor accelerator program). The company is led by Managing Director Matthew Pustahya and a board drawing on Rio Tinto, Mount Isa Mines, and SRK Consulting experience, with technical execution supported by Senior Exploration Geologist Matt McGloin. Customers are effectively ASX investors (retail, institutional, and resource-focused funds) rather than product buyers, and revenue realisation is expected either through sale of mineral resources to a major mining company or through future mine development.

Name

Litchfield Minerals

Legal name

Litchfield Minerals Limited

Website

https://litchfieldminerals.com.au

Company type

Public

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Litchfield Minerals Limited (ASX: LMS) is an Australian early-stage mineral exploration company focused on copper and critical minerals across six granted Exploration Licences totalling 3,205km² in the Northern Territory, with the Oonagalabi Cu-Zn-Ag-Au deposit as its flagship asset. The company is pre-revenue and serves ASX capital markets, targeting future revenue through discovery and potential sale to major miners.

Ownership category

akta.pro rank

Product category

Copper and Critical Minerals Exploration

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (212290), Gold Ore and Silver Ore Mining (21222)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090), Gold And Silver Ores (1040)

akta.pro primary industry

Copper Exploration & Resource Development (IMAKADAA)

akta.pro secondary industries

Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Copper exploration
• Mineral exploration
• Critical minerals
• Base metals exploration
• Geophysical surveying

Headquarters

HQ city

Brisbane

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Exploration Stage (Pre-Revenue): Litchfield Minerals is an early-stage copper exploration company that has not yet generated revenue from mineral production. The company raises capital through equity offerings (SPP, IPO) to fund exploration activities. Revenue realisation would occur through either discovery and sale of mineral resources to larger mining companies or eventual development into a producing mine.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Litchfield Minerals is an early-stage mineral exploration company that acquires and advances granted exploration tenements in Australia's Northern Territory to discover copper, zinc, silver, gold and other critical mineral deposits. The company conducts systematic exploration using geophysical surveys, drilling and remote sensing across six projects covering 3,205km², with the flagship Oonagalabi copper-zinc-silver-gold deposit as its primary asset. The company is pre-revenue and currently raises capital through ASX equity issuance to fund exploration activities, with future revenue dependent on discovery and sale of mineral resources.

Product overview

Litchfield Minerals operates six copper and critical minerals exploration projects across the Northern Territory of Australia. The core portfolio includes the Oonagalabi Cu-Zn-Ag-Au deposit (the primary asset), alongside five supporting projects: Mount Doreen (base and precious metals), Lucy Creek (manganese, base metals, REEs), Paradise Well (copper-gold, REEs), and Silver Valley (polymetallic Pb-Ag). The company conducts systematic exploration using geophysical surveys (IP, EM, magnetics), drilling programs, and remote sensing to advance targets toward discovery.

Differentiator

Problem solved

Functional benefit

Products and services

• Mount Doreen Project Base and precious metals exploration project covering 458km² (EL 31305) located 350km northwest of Alice Springs in the Northern Territory. Airborne magnetics and VTEM surveys identified major structural targets at Dumunzi and Patmungala, with best historical intercept of 17m at 2.47% Pb, 1.06% Zn and 15.7 g/t Ag from Silver King, Mount Irene and Copper Flats prospects.
• Oonagalabi Project Copper-zinc-silver-gold deposit (EL 32279, 145km²) located 120km northeast of Alice Springs, hosted within metamorphosed Paleoproterozoic sedimentary rocks. The deposit has a surface expression of more than 3km x 0.5km with mineralisation extending from surface to at least 500m depth, interpreted as a carbonate-replacement or skarn-type environment with potential SEDEX-style system.
• Lucy Creek Project Manganese, base metals and rare earth elements project (ELA 33568 & EL 38889, approximately 1,600km²) located 320km northeast of Alice Springs within the Georgina Basin. Historical sampling has identified strong Mn-Co-Ag-Zn anomalies across the project area.
• Paradise Well Project Copper-gold and rare earth element project (EL 32190, 248km²) located 120km northeast of Alice Springs in the Aileron Province. Features IOCG-style characteristics with elevated copper and gold anomalies, with additional monazite-rich deposits indicating rare earth element potential.
• Silver Valley Project Polymetallic lead-silver-copper-zinc-gold prospect (EL 32241, 165km²) in the Davenport Province, 325km northeast of Alice Springs. Historical rock chips returned values up to 20-25% Pb, 11.9% Cu, and 554 g/t Ag. The project has not yet been subject to modern drilling or systematic geophysics.

Quantifiable outcome

• 148m continuous copper-zinc mineralisation intersection
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Helix Resources: ASX-listed copper-gold and nickel explorer with projects in New South Wales and Western Australia. Comparable as a small-cap ASX copper-focused explorer using systematic geophysics and drilling to advance base-metals projects.
• KGL Resources: ASX-listed copper-focused explorer with the Jervois copper-polymetallic project in the Northern Territory. Highly comparable to Litchfield because it operates in the same North Australian Craton belt and targets a similar Cu-Pb-Zn-Ag-Au style of mineralisation.
• Encounter Resources: ASX-listed critical-minerals and copper-gold explorer with projects in the Northern Territory and Western Australia. Comparable as a junior ASX explorer using advanced geophysics to target copper and critical-minerals discoveries.
• Castile Resources: ASX-listed polymetallic explorer with the Rover and Warrentinne projects in the Northern Territory targeting copper, gold, cobalt and critical minerals. Comparable because of the shared NT geographic focus and polymetallic exploration strategy.
• Prodigy Gold: ASX-listed gold and base-metals explorer with extensive tenement holdings in the Tanami region of the Northern Territory. Comparable as a small-cap NT-focused explorer pursuing orogenic gold and polymetallic styles similar to those targeted in Litchfield's Mt Doreen project.
• Tennant Minerals: ASX-listed copper-gold explorer focused on the Tennant Creek Mineral Field in the Northern Territory. Comparable as an early-to-mid stage NT-focused base and precious-metals explorer using geophysics and drilling to define high-grade targets.

Others

• BHP Group: World's largest mining company and operator of the Xplor accelerator program that selected Litchfield in 2026. Comparable as a strategic partner and potential acquirer, and as the benchmark for copper exploration and critical-minerals investment globally.

Broad incumbents

• Evolution Mining: Large ASX-listed gold and copper miner with operating mines across Australia. Comparable as an incumbent Australian gold and copper producer that frequently evaluates or acquires junior exploration assets such as Litchfield's portfolio.
• Hot Chili: ASX-listed copper developer with the Costa Fuego copper-gold project in Chile. Comparable as an ASX-listed copper-focused company at a more advanced stage, useful for benchmarking scale, capital intensity and copper-project economics.

Emerging players

• Strategic Energy Resources: ASX-listed critical-minerals and base-metals explorer with copper-gold projects in the Northern Territory. Comparable as a small, NT-focused peer pursuing copper-gold mineral systems.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key highlights6 records

Customer concentration

• Xx.com/Litchfield_LMS
• LinkedInlinkedin.com/company/litchfield-minerals-limited
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Litchfield Minerals