L1M drilling results reveal thick pegmatites in Brazil

Our exploration Investment Lightning Minerals (ASX: L1M) just announced drilling results from one of its Brazilian lithium projects.

L1M ran a 14 hole diamond drill program at Esperenca and hit pegmatites in 9 holes.

Pegmatites are the typical host rock for lithium bearing spodumene mineralisation.

What we would have liked to see was more spodumene in the drillcore, which would have meant higher lithium grades then the 0.01% lithium grades from today’s drill results.

But L1M did say that this round of drilling would be used to “vector” in on higher priority targets, where hopefully the grades are higher.

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Next, L1M will be doing some rock chip sampling and mapping on the sane project.

What else is L1M up to?

We are most interested in L1M’s Mt Turner project in Queensland that recently began drilling which we covered here.

This project is prospective for gold, copper and silver over 12.5km of strike with a 1,300m drilling planned for the campaign.

This will be following up on old results and testing for extensions to these historical result:

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While these results have shown predominately gold, there have been some silver intercepts reported which is great to see with silver having spent time above US$45/oz overnight.

All drilling will be done on areas that have been drilled prior, with these areas showing prior mining activity from surface, minimal prior drilling was done below 100m.

The aim for these holes will be to confirm prior results and to test for deeper extensions.

(Source)

Alongside this drilling program, L1M is running a soil sampling program along the 12.5km long fault that hosts the targets, in between the targets has seen no drilling in the past.

With the sampling program underway, results form this could be seen from around 4 weeks time and will be used to help plan the follow up drill program.

What’s next for L1M?

Diamond drilling program continuing on gold targets 🔄

Given L1M will be running a diamond drill program, it is possible we get some visuals fairly soon with drilling having started.

So we could see results start to trickle in fairly quickly from L1M.

Soil sampling program alone ~12.5km fault line 🔄

L1M mentioned in the recent announcement that soil sampling would also form part of this program to rank more drill targets.

L1M previously stated that they expect assays from the soil sampling program to take 4-6 weeks, so we should see results from this soon.