Lightning Minerals Ltd (ASX:L1M, FRA:YZ1) earlier this week outlined progress at its Warby Project in North Queensland, where early-stage exploration has identified a potentially significant tungsten opportunity alongside the company’s existing gold-focused strategy.
Managing director Troy Bryce said historical research uncovered evidence of shallow tungsten workings dating back to World War One on the Warby tenement, prompting the company to initiate geological mapping and rock chip sampling programs targeting both gold and tungsten mineralisation.
According to Bryce, the initial fieldwork identified what appears to be a two-kilometre strike zone of tungsten mineralisation hosted within quartz material. He said the discovery demonstrated the broader mineral prospectivity of the Georgetown region, which already hosts established tungsten production nearby at Mount Carbine.
Bryce noted that Lightning Minerals remained primarily focused on gold exploration and development, particularly through activities at the Mount Turner project. However, he said the company intended to maximise value from all mineral opportunities across its North Queensland tenement package.
He described tungsten as a strategically important commodity due to tightening global supply conditions and increasing demand from defence systems and advanced electronics manufacturing.
Bryce said tungsten was “a key component of weapons systems and other advanced electronics in the global community,” while noting that export restrictions from several countries had reduced available supply.
He added that shrinking supply and rising demand could enhance the value of emerging tungsten deposits such as those being explored at Warby.
The company also highlighted potential processing advantages associated with tungsten mineralisation, noting that gravity-based recovery methods may reduce reliance on chemical-intensive extraction techniques commonly used in gold and copper processing.
Looking ahead, Lightning Minerals expects assay results from the current rock chip sampling campaign within the next few weeks. The company also plans to expand exploration activities through additional soil sampling and further investigations during the North Queensland dry season.
Bryce said the accessibility of the project area and the company’s local logistics capabilities would allow exploration programs to advance rapidly, while concurrent activities continue at Mount Turner.
The emergence of tungsten at Warby adds a potentially valuable critical minerals angle to Lightning Minerals’ portfolio at a time when global markets remain focused on secure Western supply chains for strategic commodities.
Key highlights
- Lightning Minerals identified historical World War One-era tungsten workings at the Warby Project in North Queensland.
- Geological mapping and rock chip sampling uncovered a potential two-kilometre tungsten strike zone.
- The tungsten mineralisation appears to be hosted within quartz material.
- The company’s primary focus remains gold exploration and development.
- Warby provides additional value upside through exposure to critical minerals.
- Tungsten demand is being supported by defence applications and advanced electronics manufacturing.
- Global tungsten supply constraints are increasing the strategic importance of new deposits.
- Nearby Mount Carbine demonstrates the region’s tungsten prospectivity.
- Assay results from the current sampling campaign are expected within weeks.
- Additional exploration activities are planned during the North Queensland dry season.
Proactive: Lightning Minerals CEO Troy Bryce joins me now to discuss rock chip sampling exploration at the company’s Warby Project in northern Queensland. Troy, good to see you.
Troy Bryce: Thanks, Jonathan.
Proactive: So let’s talk about Warby. It’s separate to what we’ve been talking about in terms of gold. Talk us through this source program and what you hope to achieve.
Troy Bryce: Certainly. In North Queensland, around the town of Georgetown, we have easy access to the Mount Turner project about 15 kilometres away, and to the north-east we have the Warby and Scandens projects.
In examining historical mining and exploration records in the region, we uncovered evidence that during World War One there were shallow tungsten workings on the Warby tenement. We set out to examine that through geological mapping and rock chip sampling for both gold and tungsten.
We discovered what appears to be a two-kilometre strike area for tungsten hosted within quartz material. We’re keen to continue exploring that opportunity.
Proactive: So it seems the region this project is in is highly prospective.
Troy Bryce: It is. North Queensland is prolific for a range of mineralisation styles. Importantly for tungsten, nearby Mount Carbine hosts a successful tungsten operation. The only other tungsten mine in Australia is on King Island in Tasmania.
So we now have this rare global commodity identified on a Lightning Minerals tenement, and we’re keen to explore it further to create shareholder value.
Proactive: I want to talk about tungsten a little bit more. It’s crucial to the global economy. Where does it fit into the strategy you’re building?
Troy Bryce: First and foremost, the company strategy remains focused on gold exploration and development. We have short-term value creation pathways centred around gold.
However, while we hold tenements in these tier-one jurisdictions, we intend to explore for every opportunity available. The tungsten opportunity emerging at Warby represents another avenue to increase company value for shareholders.
Global tungsten supply is constrained at present. It is a key component in weapons systems and advanced electronics. With some countries restricting tungsten exports, supply is shrinking while demand continues to increase, adding value to potential deposits such as what we’re seeing emerge at Warby.
Proactive: Let’s go back to Warby and this program. Talk to me about the next steps and what we can expect over the coming weeks.
Troy Bryce: We expect assay results over the next few weeks, which should help define the grade of the tungsten mineralisation. We’ll also expand exploration activities through additional soil sampling and further investigations across the tenement over the coming months during the North Queensland dry season.
The project area is accessible for our logistics team and personnel, allowing us to progress work rapidly. At the same time, Mount Turner activities are also continuing concurrently.
Proactive: Troy, thanks for your time today and good luck with it all.
Troy Bryce: Thanks, Jonathan.