Encouraging results are in for Lightning Minerals Ltd (ASX:L1M) following a first phase of soil sampling at the company’s newly renamed Canabrava Project in Minas Gerais, Brazil.
The sampling points to potential lithium targets at the project in the heart of the Lithium Valley region, “one of the most cost-effective and prospective lithium regions on the planet”, according to the company’s CEO Alex Biggs.
Peak lithium assays of up to 113 parts per million (ppm) have been recorded from the western part of the project bolstering confidence in the region's potential for substantial lithium deposits.
Pegmatites identified
In addition to the positive assay results, the company's ground reconnaissance work has identified multiple pegmatites and pegmatite float material across the project area, pointing the way to further discoveries.
These findings could generate the first drill targets from the initial phase of exploration, with infill soil sampling now planned to refine these targets further.
Phase 1 of the soil sampling program at Canabrava has wrapped up, with 129 samples collected and submitted for analysis.
Results highlight two areas of elevated lithium content, which correspond to subcropping pegmatites identified during a geological mapping campaign.
The project is also undergoing geophysical interpretation to aid in the development of a structural thesis for pegmatite emplacement in the region.
Broader pegmatite system
Beyond the areas of elevated lithium, more than 25 pegmatite occurrences have been recorded, indicating the potential for a broader pegmatite system within the Salinas Formation Schists, a significant geological feature in the region.
The company is now planning a follow-up infill soil sampling program and further geological mapping to generate high-priority drill targets.
Soil sampling and reconnaissance activities are also ongoing at Lightning Minerals' other Brazilian projects, Caraíbas and Esperança, with results expected in the coming weeks.
The company previously referred to the Canabrava site as the Sidrônio project, but it has been renamed due to local sensitivities.
"Very encouraging"
Lightning Minerals managing director Alex Biggs said: “Positive Stage 1 results from the now renamed Canabrava prospect are very encouraging.
“It’s great to see the area that was highlighted as a priority target has returned strong initial results and provides further opportunity to complete infill soil sampling in this area; the purpose being to more accurately and confidently define drill targets.
“The Lithium Valley region of Minas Gerais is a highly prospective, easy to operate in, low-cost jurisdiction and is starting to yield positive results already for the company.
“Additional soil sampling results for the Caraíbas project are pending and due imminently as well as soil sampling works on the Esperança project to begin soon as well.
"Focused and effective"
“We are making great progress in Brazil, these early-stage works are critical to ensuring a focused and effective drilling campaign and the speed and quality of the work is testament to our geology team.
“As we have always discussed, we are committed to the lithium thematic and what better place to back that than one of the most cost effective and prospective lithium regions on the planet.
“We look forward to exciting further updates soon.”