en.Wedoany.com Reported - Lightning Minerals Ltd (ASX:L1M, FRA:YZ1) has confirmed widespread high-grade tungsten mineralisation at its wholly owned Warby project in North Queensland, with the latest assay results supporting the company's exploration model. The company collected 14 reconnaissance rock chip samples from historical workings across eight separate vein systems, with assays showing tungsten grades ranging from 750 parts per million (ppm) to over 50,000 ppm (i.e., greater than 5% tungsten).
Chief Executive Officer Troy Brice said the results were an important validation of the historical workings and provided confidence for follow-up work. He noted that the confirmation of high-grade mineralisation across multiple vein systems laid a solid foundation for further exploration. The apparent scale of the mineralised system was a key takeaway from the results, with the company identifying eight mineralised veins and believing there is evidence of a larger structural system requiring detailed investigation. The next phase of exploration will focus on geological mapping, infill stream sediment geochemistry and expanding the soil sampling program, covering an area of approximately two square kilometres. Management indicated that the extent of mineralisation needs to be defined before advancing drill targets, with drilling potentially scheduled for 2027 rather than this year.
The Warby project is located in a recognised tungsten district in North Queensland, relatively close to the producing Mount Carbine tungsten mine. On a macro level, Brice noted that China controls approximately 83% of global tungsten supply, while demand from defence, aerospace and advanced manufacturing sectors continues to grow. He specifically mentioned that the US defence sector is actively seeking alternative tungsten sources, further highlighting the strategic significance of the project. Historically, mining activity in the Warby area dates back to World War I, when these materials may have been used in early weapons manufacturing.
While Lightning Minerals remains primarily focused on gold exploration, Brice said the tungsten opportunity provides a complementary strategic mineral growth pathway. The project's proximity to existing operational centres allows it to be advanced in parallel with the company's other exploration activities, achieving operational efficiencies. For investors, potential catalysts include the completion of geological mapping and stream sediment geochemistry surveys, further definition of vein systems, identification of drill targets, and any future drilling activities aimed at testing the larger scale of the mineralised system.
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