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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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Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, 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.
Maiden Drill Program Set to Commence at the High-Priority Cangallo Porphry Copper Project
- Maiden RC drill program to commence at Cangallo in mid-December
- Program will test a large-scale, undrilled porphyry copper target
- Assay results expected around the end of January 2025
- Permitting underway for drill programs across other high-priority, large-scale porphyry copper targets at Lantana and Playa Kali
Access and drill pad preparations have commenced with drilling scheduled to start around mid-December. The planned program, which comprises a minimum of eight drill-holes for a total of ~2,500m, will take 3 to 4 weeks to complete with assay results expected around the end of January 2025.
Figure 1: Cangallo Porphyry Copper Prospect showing copper and molybdenum values and permitted drill sites.
Geological mapping and rock-chip sampling has outlined a partially exposed potential copper (+/- gold) porphyry system, within a large-scale (3km x 2km) caldera-like structure containing extensive colluvial and younger sediment cover.
The initial drilling program will test areas containing relatively intense veining (quartz) and porphyritic dykes, where higher copper (up to 0.65% Cu) and gold (up to 0.3g/t Au) values have been found. The possibility of a buried porphyry copper system beneath the extensive cover within the interpreted caldera-like structure will also be tested.
Cangallo is located close to significant infrastructure and is approximately 25km from the town of Chala, and within 10km of the coast.
Commenting on the imminent commencement of drilling at Cangallo, AusQuest’s Managing Director, Graeme Drew, said:
“This is a very exciting time for the Company as we are about to commence the maiden drill program at this high-priority porphyry copper target in Peru which we have been working towards for over 12 months.
Cangallo has never been drilled before and demonstrates classic geochemical and alteration signatures which suggest there is significant potential to discover large-scale copper porphyry mineralisation.
Success at Cangallo has potential to create significant value for our shareholders and we look forward to keeping our shareholders updated as the results become available.”
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This article includes content from AusQuest limited, 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.
