Lightning Minerals Ltd (ASX:L1M) has selected six priority targets across its lithium projects in the Lithium Valley of Minas Gerais, Brazil, after reprocessing government geophysical data for the area.
The company is already undertaking soil and ground reconnaissance programs across its projects, with results expected in the next couple of weeks, and L1M intends to conduct further infill sampling over areas of interest to increase drill targeting precision.
This data review follows a recent grab sample grading 4.04% lithium oxide at the Esperança tenement.
“Excellent opportunity” for growth
“The return of positive results from our geophysics work in Brazil is very encouraging,” Lightning Minerals managing director Alex Biggs said.
“These results come quickly off the back of our recent spodumene discovery at Esperança with results supporting the overall idea of a highly prospective region as we have discussed previously.
“These results are a key component with our incoming soil sampling and ground reconnaissance results which together will allow us to further develop strong drill targets across our project areas.
“It is pleasing to see the quality and speed of works in Brazil and I would like to thank our geology team both in Australia and Brazil for conducting a diligent and focused exploration campaign.
“We feel that the results we are seeing on the ground represent an excellent opportunity for growth for the company and I look forward to keeping you all updated in the coming weeks.”
L1M will conduct follow-up groundwork shortly in conjunction with soil sampling and drilling programs scheduled for the first quarter of 2025.
Licence relinquished
Meantime, the company has opted to not renew its licence for the Mt Jewell project in Western Australia following studies on prospectivity and site visits.
Works have indicated that the project presents little upside opportunity for the company and allows focus on the key assets in the Lithium Valley of Brazil and Dundas, Western Australia.