General discussion, page-224

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LORD RESOURCES (ASX:LRD)

(Up on no news)

Recently listed lithium-gold explorer LRD has two key projects: Horse Rocks (lithium) and **yon (gold), both in WA.

Early stage work has defined a bunch of targets for drilling at Horse Rocks, nestled between Mt Marion — owned by major miner Mineral Resources (ASX:MIN) — and $136m takeover target Essential Metals (ASX:ESS).

Maiden drilling is pencilled in for March/April, LRD says.

“Horse Rocks, situated between Essential Metals, currently under a takeover offer from Tianqi Lithium Energy Australia (IGO & Tianqi) and Mineral Resources continues to provide all the right signals,” managing director Barnaby Egerton-Warburton said early February.

“The refined geochemical anomalies at the Horse Rocks lithium project are an exciting next step in the exploration of the project.

“These highly encouraging results will allow us to refine our drilling program, which is planned to comprise up to 6,000 metres of RC and will commence shortly after the completion of the heritage survey.”

The $6m capped stock is flat year-to-date. It had $3.4m in the bank at the end of December.