Join our daily newsletter At The Bell to receive exclusive market insights
Lightning Minerals Ltd (ASX:LM1) is gearing up for its first drill program of 2025 at the Esperança Project in Brazil’s Lithium Valley, with Raman spectrographic analysis confirming the presence of spodumene mineralisation there, in addition to strong soil sampling results across the company’s Brazilian plays.
The company is aiming to run 2,000 metres of diamond drilling at Esperança in the first quarter of 2025, with drilling contractors and logistics already procured for the inaugural program.
In the lead up to this, it ran Raman spectroscopic analysis at Esperança, with this underscoring the fact that spodumene is the lithium bearing mineral there.
This backed up the discovery of a lithium-bearing pegmatite at the project, announced in November 2024 following a phase of early exploration which included project scale
geological mapping, ground reconnaissance, and soil sampling.
At the same time, Lightning picked up strong soil assays through soil sampling programs at the Caraíbas and Esperança projects – which are also located in the Lithium Valley in Brazil’s Minas Gerais region.
Assays of up to 429 parts per million (ppm) lithium were returned at Caraíbas and 320ppm Lithium at Canabrava.
Lightning has been trading at 6.6 cents.
Join the discussion: See what HotCopper users are saying about Lightning and be part of the conversations that move the markets.
