A site visit and successful phase one reconnaissance have given Lightning Minerals Ltd (ASX:L1M) confidence in the lithium potential of its Caraíbas and Sidrônio projects in Minas Gerais, Brazil.
The Eastern Brazilian Pegmatite Province, where these projects are located, is recognised as the "Lithium Valley" of Brazil.
Significant lithium resources in area
The area hosts numerous significant lithium resources, including those at Latin Resources' Colina project, Sigma Lithium (TSXV:SGML)'s Grota do Cirilo project and Lithium Ionic's Global Mineral Resource.
The site visit, attended by Lightning Minerals representatives and local geologists with extensive lithium experience, verified previously identified outcropping pegmatites containing lithium-bearing minerals, specifically lepidolite, within artisanal workings at the Caraíbas project.
Additional pegmatite occurrences were observed across both project areas, indicating pervasive hydrothermal activity.
Field reconnaissance at the Caraíbas Project confirmed lithium-bearing outcrop at artisanal workings, with peak lithium rock chip assay results grading up to 0.53% lithium oxide (Li2O), along with significant tantalum (1,245 parts per million (ppm)), rubidium (1,175ppm) and caesium (1,455ppm) assays.
Managing director Alex Biggs said: “The site visit to the Caraíbas and Sidrônio projects this week has been extremely positive and exciting.
Opportunity to build relationships
“Not only has potential prospectivity been confirmed for both projects we have also taken the opportunity to further build our relationships here in Brazil.
“The Lithium Valley is a highly prolific region for lithium mineralisation and is a globally significant province. I feel excited to be here and seeing the opportunities that Brazil presents to Lightning.
“Before the trip I believed that this acquisition could be transformational to Lightning – that belief has been significantly cemented.
“We look forward to ongoing works on the projects and are in process of organising work programs. I will be keeping you all updated as we embark on an exciting new journey for the company.”
What’s next?
Exploration programs are being developed, supported by aeromagnetic geophysical trends that correlate with regional trends found at nearby lithium deposits.
The company’s immediate exploration steps include a focused geological mapping and sampling program at the Caraíbas artisanal site, regional stream sediment sampling, soil sampling programs and higher resolution aeromagnetic geophysical data collection.
These efforts will help Lightning to identify drill targets and advance the projects towards being drill ready.
The planned works are expected to commence shortly and continue over the following months, with the potential to accelerate timelines if significant discoveries are made.