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Lightning Minerals Ltd (ASX:L1M)

ALERT: Price-sensitive ASX Announcement for L1M
Current share price for L1M : $0.013 -0.001 (-7.14%)+
Announcement
Release
24 Aug 2026 9:40AM
Price at Release
$0.014
Full Release
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Summary
Lightning Minerals Ltd reported high-grade tungsten results from Phase 2 exploration at its Warby Tungsten Project in North Queensland, confirming findings from Phase 1. The Phase 2 assays reveal significant tungsten mineralization, with five out of six samples returning assays greater than 1.00% W, peaking at 5.46% W. Additionally, a sample returned 2.22ppm Au, underlining the polymetallic nature of the deposit. The company has expanded the known mineralised veins southeast and identified potential further vein extensions. These results support the potential for additional tungsten-bearing systems, with exploration efforts set to continue, focusing on trenching and LiDaR surveys to identify future drill targets. The company anticipates integrating soil and drainage sample data to refine Phase 3 exploration plans.
Key Points
  • Phase 2 rock chip assays confirm high-grade tungsten mineralization at Warby.
  • Peak tungsten assay recorded at 5.46% W, with 5 samples >1.00% W.
  • Sample returned 2.22ppm Au, indicating polymetallic nature.
  • Phase 2 work expanded known mineralized veins southeast.
  • Tungsten demand driven by defence, aerospace, and manufacturing.
  • No evidence of modern systematic tungsten exploration in the area.
  • Potential for additional tungsten-bearing vein systems exists.
  • Future exploration will include trenching and LiDaR surveys.
  • Exploration targets identified through soil and drainage samples.
  • Awaiting assay results to finalize Phase 3 exploration.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.