Lightning Minerals Ltd (ASX:L1M) has established a solid foundation to make a significant discovery in Brazil’s prolific ‘Lithium Valley’ and will kick off 2025 with a busy work program, including diamond drilling, to fulfil its critical mineral goals.
The company is planning up to 3,500 metres of diamond drilling at various drill targets across the company’s lithium projects in Minas Gerais with this work scheduled to begin next quarter.
First two targets
Drilling will start at the Esperança project where lithium-bearing pegmatites have recently been discovered with spodumene grading up to 4.04% Li2O before moving to the nearby Caraíbas project.
Elevated assays of up to 239ppm lithium have been returned for a lithium-in-soil anomaly at Caraibas that extends for about 2 kilometres and is up to 700 metres wide.
Lightning Minerals managing director Alex Biggs said, “The last six months have proven to be very successful for our phase 1 exploration program in Brazil.
"At the beginning of our work programs, we developed a clear and focused strategy which we have executed quickly, cost-effectively and safely.
Strong believers in lithium
"The results are significant in this context and now provide the company with excellent drill targets and positions us to potentially make a discovery in the Lithium Valley.
"We have always been strong believers in the lithium thematic and the potential that Brazil presents to be a significant contributor to the lithium supply chain.
"Recent acquisition activity in the region supports this and we feel there are other significant lithium discoveries to be made in the region.”
Lightning Minerals’ Brazilian tenements in regional context of the Lithium Valley region of Minas Gerais.
Canabrava targets
Other target areas are under consideration for drill testing at the Canabrava project where strong lithium-in-soil anomalism up to 113ppm lithium within a northwest to southeast trend.
Strong geophysical signatures are being utilised to support drill targeting following a positive geophysical interpretation that supports the prospectivity of the region.
Phase 1 soil sampling is complete across all areas at the Esperança, Caraíbas and Canabrava projects while infill soil sampling has also been completed around the spodumene discovery at Esperança with results pending.
These results will assist with further drill targeting beyond the initial planned 2,000 metres of diamond drilling.
Upcoming work
Drill planning is ongoing following a recent site visit to Brazil by the managing director with plans to begin in quarter one of 2025.
The upcoming work program includes:
- Drill target 1 - Up to 2,000 metres of diamond drilling at the Esperança project testing lithium-bearing spodumene pegmatites grading up to 4.04% Li2O.
- Drill target 2 - Up to 1,500 metres of diamond drilling at the Caraíbas project targeting ~2 kilometre x 700 metre lithium soil anomalism, and a smaller 800 x 300 metre anomaly with peak assay result of 239ppm lithium.
- Drill target 3 - Canabrava project targeting lithium-in-soil anomalism up to 113ppm. Infill soil sampling results pending to define northwest to southeast trend and potential starting point for drilling
- Ongoing ground reconnaissance and pending infill soil assays to provide additional drill targeting beyond initial planned drill metres.
Spodumene crystals collected from artisanal workings within the Esperança project.
A contractor engagement process is underway for the appointment of a drilling contractor and appropriate support staff to support the company’s drilling plans in early 2025.
Busy start
"As we finish 2024, we are gearing up for a very busy and productive start to the new year,” Biggs added.
"I would like to thank our team for the diligence, hard work and commitment they have shown as we look forward to continued success.”