Multi-mineral exploration company Lightning Minerals Ltd (ASX:L1M) has reported positive results from its first site visit and reconnaissance works at Brazilian lithium projects Caraíbas
and Sidrônio – which it acquired in April – verifying previously identified pegmatite outcrops and noting several more.
Company representatives and local contract geologists took part in the visit and reconnaissance work, viewing lithium-bearing pegmatites previously identified within artisanal works at the Caraíbas project.
Rock chipping from this area revealed peak grades of up to 0.53 percent lithium oxide (Li2O), as well as tantalum grading 1,245 parts per million (ppm), rubidium grading 1,175ppm and caesium at 1,455ppm.
Numerous other pegmatites were observed across both project areas, suggesting the presence of pervasive hydrothermal activity.
Lightning is now developing exploration programs based on aeromagnetic geophysical trends which correlate with regional trends observed at proximal lithium deposits.
Managing director Alex Biggs said the site visit to both project areas had yielded positive results for the company.
“Not only has potential prospectivity been confirmed for both projects we have also taken the opportunity to further build our relationships here in Brazil,” he said.
“The Lithium Valley is a highly prolific region for lithium mineralisation and is a globally significant province.
“I feel excited to be here and seeing the opportunities that Brazil presents to Lightning. Before the trip I believed that this acquisition could be transformational to Lightning, that belief has been significantly cemented.”
Lightning Minerals has been trading at 8.2 cents.