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Herald Sun
04-08-2025
- Business
- Herald Sun
Loyal Metals prepares to fire up next-gen exploration tech at Highway Reward after $2m placement
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. LLM secures firm commitments for $2m share placement Management says funding round strong endorsement of Highway Reward acquisition Fresh capital for drilling at Highway Reward supported by AI-driven targeting and drone-based geophysics Special Report: Firm commitments to raise $2m through a targeted share placement have furnished Loyal Metals with plenty of capital to pursue exploration at the newly acquired Highway Reward copper-gold mine. With $5.8m in hand, Loyal Metals (ASX:LLM) intends to channel the funds into modern exploration techniques and drilling at Highway Reward, including AI-driven targeting and drone-based geophysics. Very little work has been done at Highway Reward since it was last mined in 2005, having produced 3.65Mt at 5.6% copper and 260k tonnes of gold at 4.5 g/t and until 2005. Loyal Metals managing director Adam Ritchie said the overwhelming demand for the placement reflects the strong support for the company's innovative approach in embracing next-gen exploration technologies. 'We are committed to thoroughly revisiting the unique opportunity presented by Highway Reward,' he emphasised. 'Our strategic move into copper-gold is further strengthened by the potential that Highway Reward offers investors. 'The mine has remained dormant for over 20 years and was last evaluated using 1997 commodity prices. 'Given the significant increase in commodity values since then, the mining leases warrant a fresh assessment for their remnant mining potential and significant exploration upside.' Modern exploration, long-term strategy Loyal Metals intends to explore Highway Reward with a focus on copper mineralisation, although the company will also be taking advantage of any gold potential. A 680% increase in copper prices and a 1256% increase in gold prices since the project was last formally evaluated in a feasibility study offers LLM a lucrative opportunity to take advantage of 28 years of commodity growth. Loyal sees potential for both remnant mining opportunities targeting left over sulphide gold mineralisation and new targets along strike and at depth, below previous mining boundaries of just 220m for the open pit and 390m for underground operations. 'We plan to integrate high-resolution MobileMTd drone survey data with existing exploration and mining datasets, leveraging AI-powered mining software to generate drill targets at depth and along strike,' Ritchie said. 'This integrated approach positions Loyal Metals at the forefront of modern mineral exploration.' LLM expects to begin drilling at the Highway Reward Mine within the coming months. This article was developed in collaboration with Loyal Metals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as Loyal Metals prepares to fire up next-gen exploration tech at Highway Reward after $2m placement
The Australian
29-07-2025
- Business
- The Australian
Loyal Metals will use high-tech drone survey to unlock copper-gold targets at historic mine
LLM to launch high-tech survey to delineate new targets at Highway Reward mine Survey can investigate depths 3-4x deeper than when the project was historically mined Modern exploration backed by $4.4m in available funding Special Report: Loyal Metals will launch the world's highest-resolution geophysical survey, a drone-based MobileMTd survey, over its Highway Reward copper-gold mine in Queensland. The mine, which previously produced 3.65Mt at 5.7% copper and 260,000t at 4.5 g/t gold, has seen no geophysics since a feasibility study in 1997 — despite copper and gold prices increasing by 664% and 1,317% respectively. This is where Expert Geophysics' cutting-edge MobileMTd technology comes into play. The tech is capable of investigating depths beyond 1,000 metres. For context, the historical mine was only mined to depths of around 220m for the open pit, and 390m underground. The aim of the survey is to generate a high-resolution 3D model to highlight remnant mining and exploration potential at the project. Loyal Metals (ASX:LLM) said the results would be integrated with existing exploration and mining data to enable AI-powered software to model subsurface geology and define new drill targets at depth and along strike. Next phase of discovery Backed by $4.4m in available funding, LLM is well-positioned to apply modern exploration techniques and unlock the next phase of copper-gold discovery at Highway Reward. 'The presence of exceptionally high-grade historic copper lenses supports our bold decision to implement a closely spaced survey, aimed at unlocking the full potential of this unique VMS system,' LLM managing director Adam Ritchie said. "By combining MobileMTd technology with extensive historical data and AI-powered modelling, we're unlocking geological insight rarely seen in the industry. 'Our strong partnership with Expert Geophysics, gives us confidence this survey will deliver outstanding results. 'With solid funding and modern tools, Loyal is ready to reignite exploration at Highway Reward and uncover its next chapter." Along with the historical mine, the project hosts a 3km northeast-trending corridor of underexplored massive sulphide mineralisation which will also be subject to the MobileMTd survey. This article was developed in collaboration with Loyal Metals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Sponsored JMM's annual Noosa Investor Lunch brought together ASX and pre-IPO companies with over 160 investors in attendance. Sponsored St George Mining has delivered a 30kg bulk sample from its Araxa project to a Brazilian government-backed supply chain program.
