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Lightning Minerals(L1M or the Company) is pleased to announce completion of the acquisition of Bengal Mining (Bengal). Bengal holds, via its wholly owned subsidiary Tigre Mineracao Ltda (Tigre) option agreements over two lithium projects, Caraíbas and Sidrônio (the Projects). The Projects are located in Brazil’s prolific Lithium Valley district in the state of Minas Gerais in proximity to Latin Resources’ (ASX: LRS) Colina project1 hosting 70.9Mt @ 1.25% Li20 and Sigma Lithium’s (NASDAQ: SGML) Grota do Cirilo project2 hosting 108.9Mt @ 1.41% Li20.
HIGHLIGHTS
- All Conditions Precedent have been met including receipt of shareholder approval at the Company’s EGM on 13 June 2024 including completion of tranche 2 capital raising
- Completion of acquisition of Bengal Mining and options over highly prospective lithium projects Caraíbas and Sidrônio, located in the prolific Lithium Valley region of Minas Gerais, Brazil
- Recent site visit confirms the highly prospective nature of the projects in Brazil’s prolific Lithium Valley in the state of Minas Gerais
The acquisition of Bengal Mining is now complete and is seen as transformative to the future of the Company as it positions itself in the prolific Lithium Valley district of Minas Gerais, Brazil. Currently, Managing Director, Alex Biggs is in Brazil visiting the projects and region as well as attending the Brazil Lithium Summit in Belo Horizonte. He will be meeting with key stakeholders, contractors and business leaders to ensure the Company is well positioned in Brazil moving forwards. Recent site visits have demonstrated the potential that the Caraíbas and Sidrônio projects present as reported in ASX Announcement 14 June 2024.
Lightning Minerals Managing Director Alex Biggs said, “Completion of the Bengal acquisition is a significant step forward for the Company and we can now begin to focus our efforts on target generation across our Brazilian assets. Having spent time in Brazil over the past couple of weeks we really like what we see and the potential these projects present to the Company. To be positioned where we are in the region is a significant achievement for us. Couple that with our relationships in Brazil, the prospectivity of the projects we are setting ourselves up for success. We welcome new shareholders on board as part of the transaction and capital raising and look forward to the future as we begin our exploration in one of the world’s premier lithium regions”.
Caraíbas and Sidrônio Projects
The Projects are located in the Eastern Brazilian Pegmatite Province that encompasses approximately 150,000 km2, stretching from Bahia state to Rio de Janeiro state. The Caraíbas Project consists of five (5) separate tenements covering 1,733 Ha and the project area contains a series of albite and muscovite rich pegmatites identified by Bengal’s initial reconnaissance works. Aeromagnetic data shows the tenements are located along regional structures and shear zones which are analogous to the trends present at Latin Resources’ (ASX: LRS) Colina deposit. The Caraíbas Project is located approximately 20km to the south in the same Salinas geological formation.
The Sidrônio Project consists of two (2) tenements covering 1,638 Ha, strategically located adjacent and along strike to the south from the Caraíbas Project. Aeromagnetic data shows the tenements are located along similar interpreted structural trends that may potentially be conduits for mineralisation. Both Projects cover prospective Salinas Formation geology which is thought to provide adequate rheological conditions suitable for the emplacement of late hydrothermal fluids. In similar geological settings, proximal to S-type granites, the Salinas Formation is known to host fertile lithium mineral bearing pegmatites.
Figure 2: Caraíbas and Sidrônio project location, geology and tenements
Figure 3: Caraíbas and Sidrônio projects location and tenements plotted against publicly available analytic signal aeromagnetic image from Servico Geologico do Brasil (Geological Service of Brazil)
Next Steps
Work programs will focus on ground reconnaissance, geophysical drone survey works, drill target identification and drilling. It is estimated that these works will occur over the next 6-months but are subject to change as the Company gains further knowledge on the projects.
Initial indicators and impressions gathered from this site visit will continue to inform the Company’s approach to exploration at both Caraíbas and Sidrônio over the coming months but the strategy already developed is considered appropriate with a view to developing drill targets over the next few months.
Click here for the full ASX Release
This article includes content from Lightning Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
L1M:AU
Lithium Africa: Searching for Low-cost, Marquee Hardrock in Africa
Lithium Africa is a next-generation exploration company purpose-built to seize the opportunities of the coming lithium supercycle. With a focus on early-stage land acquisition, rapid drilling, and a landmark joint venture with Ganfeng Lithium, the company delivers maximum exploration efficiency, capital leverage, and de-risked discovery potential at scale.
Lithium Africa’s mission is to discover, de-risk, and monetize Tier 1 hard rock lithium assets through data-driven targeting, aggressive fieldwork, and disciplined exit strategies. Its partnership with Ganfeng—one of the world’s leading lithium producers—anchors its strategy with industrial expertise and financial strength from the earliest phases of project development.
Lithium Africa is the first company to implement a systematic, multi-jurisdictional discovery strategy across the continent, combining world-class geology with capital discipline and strategic focus to unlock the next generation of globally significant lithium deposits.
Company Highlights
- Exploration-focused Model: Lithium Africa focuses purely on discovery and value creation, with no intention to develop or operate a mine
- Strategic 50/50 JV with Ganfeng Lithium: Doubles exploration spending and provides access to processing expertise and long-term downstream offtake partners.
- Pan-African Footprint: Over 8,000 sq km of tenure across Zimbabwe, Morocco, Mali, Côte d’Ivoire, Guinea, and others – enabling diversification in discovery strategy.
- Contrarian, Countercyclical M&A: Well-capitalized and positioned to roll up distressed lithium juniors during a downcycle
- Rapid Permitting & Scalability: Target jurisdictions offer 3- to 4-year discovery-to-mine timelines versus 10 to 15 years in North America.
- RTO & Listing Expected by August 2025: Tight structure, early institutional support and significant near-term drilling catalysts
This Lithium Africa profile is part of a paid investor education campaign.*
Click here to connect with Lithium Africa to receive an Investor Presentation
Lithium Africa
Investor Insight
Leveraging early-stage land acquisition, accelerated drilling and a strong strategic partnership, Lithium Africa delivers maximum exploration efficiency, capital leverage and de-risked lithium discovery upside at scale.
Overview
Lithium Africa is an exploration company purpose-built to capitalize on the next cycle of lithium demand. Its strategic mission is to discover, de-risk and monetize Tier 1 lithium assets through data-driven targeting, aggressive fieldwork and value-driven exits. The company's unique 50/50 joint venture with Ganfeng Lithium is the cornerstone of its strategy, providing both financial leverage and industrial alignment at the earliest stages of project development.
Africa remains largely underexplored for lithium despite sharing geological similarities with major hardrock lithium belts in Canada and Australia. Lithium Africa is the first company to systematically deploy a multi-jurisdictional discovery strategy across the continent – combining top-tier geology with capital efficiency and strategic clarity.
At the heart of Lithium Africa’s model is its joint venture with Ganfeng Lithium, one of the top two lithium chemical producers globally. The 50/50 JV, established in 2023, enables Lithium Africa to double its capital efficiency, with $1 raised equating to $2 spent on exploration. The partnership provides unmatched advantages: access to Ganfeng’s downstream processing know-how, established customer relationships with Tier 1 OEMs, and a long-term offtake framework that allows Lithium Africa to retain flexibility and optionality on any asset monetization.
Lithium Africa does not intend to develop or operate mines. Instead, the business model is designed around efficient land acquisition, aggressive de-risking via trenching, sampling, and early drilling, and ultimately monetizing high-value discoveries through royalties, sales or carried interests. In a down market, the company is actively pursuing counter-cyclical M&A opportunities to acquire stranded or undercapitalized lithium assets. With this strategy, Lithium Africa provides shareholders exposure to world-class discovery upside with significantly reduced financing risk.
Company Highlights
- Exploration-focused Model: Lithium Africa focuses purely on discovery and value creation, with no intention to develop or operate a mine
- Strategic 50/50 JV with Ganfeng Lithium: Doubles exploration spending and provides access to processing expertise and long-term downstream offtake partners.
- Pan-African Footprint: Over 8,000 sq km of tenure across Zimbabwe, Morocco, Mali, Côte d’Ivoire, Guinea, and others – enabling diversification in discovery strategy.
- Contrarian, Countercyclical M&A: Well-capitalized and positioned to roll up distressed lithium juniors during a downcycle
- Rapid Permitting & Scalability: Target jurisdictions offer 3- to 4-year discovery-to-mine timelines versus 10 to 15 years in North America.
- RTO & Listing Expected by August 2025: Tight structure, early institutional support and significant near-term drilling catalysts.
Key Projects
Zimbabwe
Birthday Gift Project (Flagship)
The Birthday Gift project is Lithium Africa’s flagship asset and highest-priority exploration target. Located along a >12 km pegmatite corridor, the project hosts three parallel, flat-lying spodumene-bearing pegmatites within metasediments. Surface trenching has returned multiple significant intercepts, including 100 m, 67 m, and 55 m widths with true thicknesses averaging ~35 m. Rock chip samples from fresh spodumene zones have returned assays as high as 5.25 percent lithium oxide. More than 3,000 geochemical samples have been collected, and a 1,500-meter RC drill program commenced in January 2025 to test a 1,300-meter strike length.
The pegmatites remain open at depth and along strike. SGS South Africa is performing ICP assay analysis, and environmental permitting and trenching on the western trend are ongoing.
The Birthday Gift asset has strong potential to support an inaugural resource estimate by late 2025.
West Africa
Torakoura in Bougouni District, Mali
Lithium Africa controls six highly prospective licenses in Mali, located within the prolific Bougouni Basin, home to Leo Lithium’s Goulamina project, one of the world’s largest spodumene deposits. The Torakoura permit is situated along the same structural corridors and granitic host rocks. Surface exploration has identified spodumene-bearing pegmatites, supported by strong lithium and pathfinder anomalies from historic soil sampling.
Initial drilling at Torakoura began in 2024 but paused for LIBS-to-ICP calibration. A new RC drilling campaign resumed in Q4 2024. These permits offer substantial scale and proximity advantages in a well-established lithium district with proven permitting and development pathways.
Adzopé & Regional Licenses, Côte d’Ivoire
In Côte d’Ivoire, Lithium Africa holds four early-stage but highly promising permits totaling 1,254 sq km. The Adzopé license has returned rock samples with lithium oxide values up to 0.98 percent. Field mapping and lithological sampling have been completed, and a 21,700-meter auger drilling program is planned to refine targets for follow-up RC and core drilling. The region is emerging as a new pegmatite belt in West Africa, and Lithium Africa has first-mover status in building a pipeline of discovery-stage projects.
Kobikoro Project, Guinea
The Kobikoro project in southeastern Guinea consists of four licenses covering 376 sq km in the Archean Kinema-Man domain. This district is part of the underexplored Kissidougou pegmatite belt. Historical stream sediment geochemistry conducted by BRGM highlights multiple anomalous trends in lithium, tantalum and niobium. The standout feature is a 20 km-long lithium-tantalum-niobium anomalous zone aligned with regional structures and underlain by fractionated granite intrusions.
Morocco
Bir El Mami
In 2024, Lithium Africa acquired a 585 sq km, district-scale land package in the Bir El Mami region of Morocco, located on the northern extension of the Tasiast greenstone belt. The project is notable for its spodumene-bearing pegmatites confirmed by surface rock samples, which include lithium values up to 862 parts per million (ppm), and historic soil anomalies up to 363 ppm. The region is emerging as a key lithium district given Morocco’s favorable trade agreements and a growing domestic EV battery manufacturing base. Lithium Africa is currently Morocco’s only major lithium concession holder, and early-stage target identification is underway as of Q1 2025. The company is well positioned to be Morocco’s lithium sector leader and consolidator.
Management Team
Tyron Breytenbach - CEO
Tyron Breytenbach is a former Detour Gold resource geologist and leading equity analyst at Stifel Canada and Cormark. He blends deep geology with institutional capital markets acumen.
Carl Esprey - Executive Chair
Carl Esprey is a former M&A analyst at BHP Billiton and fund manager at GLG Partners. He is the founder of several resource ventures and current CEO of Waraba Gold.
Coulibaly Mamadou - Executive Director
Coulibaly Mamadou is a geologist with 12 years’ experience in mineral exploration. Coulibaly started his career with Randgold, and has extensive knowledge of and experience with the West African Birimian geology.
Ben Gelber - VP Exploration
Ben Gelber is a former VP at Gold Line Resources and exploration manager at Barrick in Guyana. He has more than 19 years of lithium and gold exploration experience.
Dr. Jeroen van Duijvenbode - Development Geologist
With a PhD in geometallurgy, Jeroen van Duijvenbode is an expert in lithium pegmatite targeting and geochemical data interpretation.
Jamie Robinson - CFO
Jamie Robinson is a chartered accountant with extensive mining CFO experience across private and public markets. Prior to his stint in the mining sector, he worked with Deloitte in Vancouver, British Columbia.
Chris O’Connor - General Counsel
Chris is a lawyer with over 19 years of private practice and in-house experience, focused on capital markets, corporate finance and M&A transactions in emerging markets throughout Africa, Eastern Europe and the CIS.
Toluwalase Seriki - Non-Executive Director
Toluwalase Seriki is Ganfeng Lithium’s head of business development in Africa. He possesses a strong M&A and finance background.
Roy Zhang - Advisor
Roy Zhang has nearly 10 years of experience in investment, M&A and corporate development, and is experienced and knowledgeable in lithium trading through his role at Ganfeng.
Dr. Tom Benson - Advisor
Tom Benson is a Stanford PhD volcanologist who leads global exploration at Lithium Americas. He is a widely respected authority on caldera-related lithium resources across the industry.
