Lightning Minerals (ASX: L1M) provided its quarterly report for the period ending September 30, 2024, highlighting significant developments. The company commenced exploration activities at its Caraíbas, Canabrava (formerly Sidrônio), and newly acquired Esperança lithium projects in the prolific Lithium Valley of Minas Gerais, Brazil. Initial work includes soil sampling, reconnaissance, and geophysics to identify drill targets. Additionally, Lightning strengthened its local presence and established relationships with government stakeholders.
The company completed an auger program at its Mailman Hill project in Western Australia, identifying gold anomalies, and progressed plans for further exploration at Dundas North and South. Preparations for the 2025 field season at the Dalmas and Hiver projects in Quebec are also underway. Managing Director Alex Biggs emphasized the strategic value of the recent acquisition and exploration progress in Brazil, which positions the company to capitalize on the growing lithium demand. Lightning’s cash position stood at AU$2.625 million as of September 30, 2024.
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