Lightning Minerals (ASX: L1M) has unveiled strong assay results from the first phase of soil sampling at its Caraíbas project in Minas Gerais, Brazil. Located in the renowned Lithium Valley region, the project has returned elevated lithium values of up to 239ppm, with multiple contiguous results exceeding 100ppm lithium. These findings reinforce the project's potential and pave the way for drilling opportunities in early 2025.
The sampling effort targeted priority areas within tenement 831424/2013, focusing on the northwestern quadrant, where a 2km x 700m zone displayed significantly elevated lithium values against a regional background of less than 60ppm. Managing Director Alex Biggs highlighted the importance of these results, stating:
“The Caraíbas project is beginning to yield some very impressive results that further support our exploration thesis and belief in the region. These results are exceptional and once again demonstrate the potential this region holds.”
Additional zones of interest include an 800m x 300m anomaly in the southeastern quadrant and a 450m-long zone with contiguous results over 120ppm lithium. These areas, along with mapped pegmatites and the T27 geophysics target, offer compelling drill targets for the next phase of exploration.
Since commencing fieldwork in July, Lightning Minerals has adopted a methodical approach, employing soil sampling along 400m spaced lines with 50m intervals and conducting ground reconnaissance to map outcrops and structures. The exploration program also incorporates geophysics interpretation, revealing promising targets across the Caraíbas, Canabrava, and Esperança projects.
Pending results from additional sampling at the eastern Caraíbas project, which includes historic workings with grades of up to 0.53% Li₂O, will further inform the company’s strategy. Ground reconnaissance and mapping at Esperança are ongoing, following a recent spodumene discovery with grades reaching 4.04% Li₂O.
Preparations are underway for drilling at the Esperança project in Q1 2025, with Caraíbas identified as the company’s secondary priority for drilling. The continued success of Lightning Minerals’ exploration in Lithium Valley underscores the potential of the region as a critical hub for lithium resources.
Alex Biggs concluded:
“We are aiming to complete our phase one soil sampling across all tenements by Christmas. These results now provide the secondary target area for drilling, which is very exciting for the Company as we continue to uncover the immense potential of Lithium Valley.”
Lightning Minerals remains committed to advancing its projects in Brazil, with ongoing works expected to yield further insights into the region's lithium-rich geology.
With promising results and preparations for drilling underway, Lightning Minerals is prepared to unlock the vast potential of Brazil’s Lithium Valley, reinforcing its position in the global lithium exploration landscape.
