Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Lightning Minerals Ltd (ASX:L1M).
The company has identified strong lithium targets at its Caraíbas project in the Lithium Valley region of Minas Gerais, Brazil. Soil sampling assays have yielded values up to 239ppm lithium, with numerous results exceeding 100ppm, confirming a strong soil response within the Salinas Formation geological unit.
The sampling program comprised 343 samples along 400-metre lines, identifying two key anomalism trends: a 2-kilometre by 700-metre area and a 800 by 300-metre area. Ground reconnaissance has revealed multiple pegmatites and float material, further supporting earlier findings. These results increase confidence in drillable targets for 2025.
This progress follows a spodumene discovery at another Lightning project in Brazil last month, which returned grades of up to 4.04% lithium oxide. The company has prioritised the western half of the Caraíbas project due to its geological setting and early reconnaissance results.
Phase one sampling across all tenements is expected to finish by Christmas, enabling preparations for drilling at the Esperança project in Q1 2025. Reconnaissance and mapping efforts continue at Canabrava, Esperança and Caraíbas, with additional results anticipated shortly.
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