L1M Reveals Lithium Drill Targets in Brazil

Today our lithium exploration Investment, Lightning Minerals (ASX: L1M) revealed the drill targets that it is working with ahead of a planned drill campaign in one of the most prospective lithium regions in the world.

The drill program in Minas Gerais, Brazil will be aimed at make a lithium discovery across the following targets:

• Target #1: the Esperanca project, up to 2,000m drilling planned, targeting lithium-bearing spodumene pegmatites grading up to 4.04% Li2O
• Target #2: Caraibas project, up to 1,500m drilling planned, targeting a 2km x 700m lithium soil anomaly with peak assays of 239ppm lithium
• Target #3: the Canabrava project, drill targeting ongoing, with soil anomalism up to 113ppm lithium, metres to be confirmed

As long-term L1M Investors we are glad that drilling is soon approaching - slated to begin in Q1 2025.

Of the three targets discussed in today’s L1M announcement, we’re particularly interested in Target #1, which has high grade spodumene rock chips already, which look like this:

These high grade lithium rock chips are located in the northwest of the Target #1 project area with a proposed drill target area outlined in the dotted green box in the image below:

Read more about how L1M found these rock chips in the note below:

L1M discovers 4.04% lithium in unknown artisanal mine. Drilling soon.

We also like Target #2, which pleasingly has trend of lithium soil anomalism starting in the northwest corner of the project and heads southeast, forming a nice “lithium corridor”:

Finally, while Target #3 needs a bit more work to firm up details, like number of metres to be drilled, we like the fact that the trend of anomalism goes from west to east:

What’s next for L1M?

🔄Additional exploration work

In today’s announcement, L1M said the company is awaiting assay results from infill soil sampling which should further hone the targets that it is working with - in particular, around the spodumene discovery at Esperança (Target #1).

There are also additional results due at Canabrava (Target #3).

With ground reconnaissance ongoing in Brazil, we hope L1M can find additional pegmatites on their projects to further prove out the prospectivity of the area that they are working in.

🔲Drilling

After what feels like a decent wait, L1M has put the work in to generate targets worthy of drilling.

We’re looking forward to a busy year of newsflow in 2025, with drilling set to begin in Q1 of next year.