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Lightning Minerals (“L1M” or “the Company”) is pleased to report it has confirmed a lithium in-soil anomaly over a 2.6km by 1.0km area where assays have returned values more than 100ppm lithium. The infill soil sampling has returned assays up to 177ppm lithium, following the first pass soil sampling which returned assays up to 218ppm lithium1. All soil sampling is now complete on tenements E63/2000 and E63/1993 with plans now underway to begin drilling in early 2024.
HIGHLIGHTS
- Infill sampling has defined a ~2.6km x ~1km >100ppm lithium in-soil anomaly within E63/2000
- Results provide targets for exploration drill testing in early 2024 with heritage surveys now complete and approvals in place
- Exploration continues aggressively across the Company’s Dundas projects with multiple targets for follow up in 2024
Lightning Minerals Managing Director Alex Biggs said, “We are pleased to announce that follow-up geochemical sampling has confirmed the previously reported lithium in-soil anomalism identified in March 2023 within E63/2000. Importantly, the clustering of these results provides us with confidence to effectively drill-test priority areas in early 2024. With the heritage survey also now complete, we are finalising drill locations. We look forward to keeping the market up to date when drill targeting is complete”.
DUNDAS SOUTH LITHIUM SOIL RESULTS
During early 2023 Lightning Minerals completed a first pass reconnaissance (400m x 400m sample spacing) soil geochemistry program consisting of 1,391 soil samples at its Dundas South Project. Of these, 682 were collected within tenements E63/2000 and E63/1993, which defined a broad lithium in- soil anomaly over an approximate ~8km2 area, including a peak result of 218ppm lithium1. To progress these initial areas of interest to more clearly identifiable drill targets an infill sampling program to a greater resolution was required.
This follow up infill program has now been completed, the program has refined the anomalous lithium areas to better understand the location and potential orientation of the anomalism. The infill samples were collected on variably spaced East-West grids which included grids of 200m x 200m, 200m x 100m, and high-resolution grids of 100m x 100m across the priority areas. Samples were analysed at Labwest Laboratories utilising the Ultrafine + (UFF+) method with chemical analysis for a suite of 62 elements including lithium and associated pathfinders for lithium mineralisation. Sample locations and lithium assay values are shown in Figure 1 and 2. Results are available in tabulated format for samples >100ppm lithium in Appendix 2.
The results of the infill campaign are considered encouraging with peak assay values reported of up to 177ppm lithium, 69.8ppm caesium, and 296ppm rubidium. Two anomalous areas have been identified. The larger of these is elevated in lithium, caesium, and rubidium, within an area approximately 2.6km long and 1km wide (Figure 1).
A secondary zone of anomalism occurs ~2.7km North-East of the first anomaly. This area is approximately 600m long x 300m wide with a cluster of 16 samples returning values over 80ppm lithium. Peak assay values up to 166ppm lithium, 17.5ppm caesium and 171ppm rubidium have been recorded (Figures 2, 3 and 4).
Figure 1: Dundas South tenement E63/2000 and E63/1993 showing UFF+ lithium soil geochemistry results for reconnaissance and infill sampling programs with resultant target areas
GEOLOGICAL SIGNIFICANCE
The localised geology consists of complex felsic granitic plutons and rafts of ultramafic and mafic volcanics, as recorded by the Geological Survey of Western Australia 1:500,000 interpreted geological datasets. The granites located proximal (2-5km) to the anomalous zones exhibit multiple phases or ‘pulses’ of intrusive events which are visible within state geophysical datasets.
The timing of the granitic ‘pulses’, the structural setting, and the related geochemistry to these various pulses need to be correct and are considered critical to creating the right conditions to emplace late- stage felsic hydrothermal fluids for pegmatite hosted mineralisation. The potential for development of the target mineralisation style in the surrounding host rocks will require these factors to be supportive for lithium mineralisation.
Lithium, rubidium and caesium are considered valuable exploration pathfinder elements when exploring for lithium within highly weathered Archaean terranes. The results of the infill soil program are considered to be elevated once values report greater than 100ppm lithium, 150ppm rubidium and 9ppm caesium as shown in Figures 2, 3, and 4. The generally coincident spatial location of the anomalism for each element is shown in Figure 5. This coincident nature further increases confidence in the quality of the targets, supporting the upcoming drill testing.
Tabulated assay data for lithium, caesium, and rubidium is available in Appendix 2 for samples containing in excess of >100ppm lithium.
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EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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