Lightning Minerals Limited (ASX: L1M) (“Lightning” or the “Company”) has commenced Phase 3 soil sampling at its 100%-owned Warby Tungsten Project in North Queensland, advancing exploration towards the definition of maiden drill targets across the emerging tungsten system.
The Company has completed and submitted its first 162 soil samples to ALS Laboratory in Townsville, with assays expected in October 2026. A further 100 samples are currently being collected as Lightning expands and infills the Phase 2 sampling grid.
The latest programme is designed to refine tungsten anomalies identified during Phase 2, where anomalism remained open to the north-east, south-west, north and west. The results will help Lightning sharpen its geological interpretation and identify priority areas for follow-up work and potential maiden drilling.
Figure: Regional geographic map for the Warby Tungsten Venture. [Lightning Minerals Limited]
Managing Director Troy Brice said:
“Phase 3 is about defining how far the Warby system extends. Our Phase 2 soils showed tungsten anomalies that remain open in multiple directions, and this infill and extension program is designed to refine and sharpen our targeting ahead of a maiden drill program.”
He added:
“With the first 162 samples now at the laboratory and a further 100 being collected presently, we look forward to updating shareholders as results are received.”
Phase 3 Designed to Define the Broader Tungsten Footprint
Lightning commenced Phase 3 immediately after completing its Phase 2 reconnaissance soil and panned concentrate work.
The earlier programme indicated that known quartz-wolframite veins could form part of a broader vein swarm and a larger mineralised footprint than the historical workings alone suggested. Lightning has therefore designed the current programme to better establish the orientation of known veins while testing the broader areas of tungsten anomalism.
The Phase 3 work currently includes:
| Exploration Activity | Current Status / Purpose |
|---|---|
| Soil sampling | 162 samples submitted to ALS; further 100 samples being collected |
| Sampling spacing | 25m sample spacing along lines 125m apart |
| Rock-chip sampling | Seven wolframite/scheelite quartz vein and wall-rock samples sent to UNSW |
| Assaying | Samples being processed through ALS Laboratory, Townsville |
| Target generation | Results to refine targets for trenching and maiden drilling |
The 162 soil samples were collected along infill and extension lines, providing greater resolution across areas identified during Phase 2. Lightning is using the results to convert surface geochemical anomalies into more clearly ranked exploration targets.
Figure: Aerial image overlay displaying Phase 2 tungsten (W) soil anomalies alongside Phase 3 sampling locations, highlighting completed collections in green and ongoing sites in blue. [Lightning Minerals Limited]
Geological Studies to Strengthen Warby Interpretation
Alongside the soil programme, Lightning has submitted seven rock-chip samples to the University of New South Wales for petrological and mineralogical studies.
The samples contain wolframite/scheelite-bearing quartz veins and associated wall rock. The studies are intended to improve the Company’s understanding of the mineralogy and geological characteristics of the tungsten-bearing system.
The soil samples were collected using a power auger to a nominal depth of 0.5 metres in the B horizon. Samples were screened to the minus-180-micron fraction before being submitted for analysis.
The analytical work is being undertaken through ALS using method ME-MS 81.
At this stage, Warby remains an early exploration project. Lightning’s technical reporting states that further grid-based sampling and drilling will be required to establish grade and geological continuity, while the current soil programme cannot determine the extent of subsurface mineralisation.
Figure: Regional map showing the Warby Tungsten Project relative to neighbouring Far North Queensland tungsten deposits and prospects. [Lightning Minerals Limited]
Tungsten’s Strategic Importance Supports Exploration Focus
Lightning is advancing Warby against a broader backdrop of strategic interest in tungsten.
Tungsten has the highest melting point of any metal and its physical properties make it important for applications including cutting tools, drill bits, aerospace alloys, armour-piercing munitions and advanced manufacturing.
The Company notes that several Western governments classify tungsten as a critical mineral, while China accounts for approximately 80% of processed tungsten production. Lightning also points to tightening export restrictions and growing interest in alternative supply sources located in stable Western jurisdictions.
Mr Brice said:
“Tungsten is increasingly recognised as a strategic critical mineral, and Warby’s location in North Queensland positions Lightning well in that context.”
The Company is consequently positioning Warby as an important part of its broader critical-minerals exploration strategy while continuing to advance its other Australian mineral interests.
Figure: Industrial uses of Tungsten
Path Towards Maiden Drill Targets
The immediate objective is to complete the Phase 3 soil programme and interpret the incoming laboratory results.
Lightning has outlined several follow-up activities:
- Receive and interpret Phase 3 soil assays expected in October 2026.
- Complete the remaining 100 soil samples.
- Integrate the UNSW mineralogical and petrological results.
- Assess further panned concentrate drainage sampling across the Lyndbrook Complex.
- Acquire and interpret LiDAR data to identify concealed historical workings and assist structural analysis.
- Rank targets for trenching and a maiden drill programme.
The Company is also assessing prospective areas around the 13-kilometre Angore Granite contact and northwest structures as it considers additional drainage sampling.
L1M Share Price Performance
The exploration activity comes as Lightning Minerals records notable recent movement in its share price.
| Market Metric | Current Performance |
|---|---|
| Last Price | $0.018 |
| Daily Change | +13.33% |
| 1 Week | +41.67% |
| 1 Month | +21.43% |
| Market Capitalisation | $5.70 million |
L1M last traded at $0.017, representing a 13.33% daily increase. The stock has also gained 41.67% over one week and 21.43% over one month, giving the Company a current market capitalisation of approximately $6.46 million.
Investors’ Outlook
Lightning Minerals is now moving Warby into a more targeted exploration phase, with Phase 3 focused on determining the broader footprint of tungsten anomalism and refining areas for potential maiden drilling.
The first 162 soil samples have already been submitted for laboratory analysis, while another 100 samples are being collected. The expected October 2026 assays represent the next major source of exploration data and could help Lightning determine how the identified surface anomalies extend across the project.
The UNSW studies should provide additional geological information on the wolframite/scheelite-bearing quartz veins, while the planned LiDAR work and potential drainage sampling could contribute further information on concealed structures and mineralisation.
Disclaimer
This article has been prepared by Colitco in collaboration with Lightning Minerals as part of a commercial content and investor communications arrangement. Colitco may receive compensation for the production and distribution of this content. This article is intended for informational purposes only and does not constitute financial product advice, investment advice, or a recommendation to buy or sell any securities. The content reflects information available at the time of publication and may not be updated. All figures, data and statements have been sourced from Lightning Minerals’ official ASX announcements and publicly available sources. Readers should conduct their own independent research and seek professional financial advice before making any investment decisions. Past performance is not a reliable indicator of future results. Exploration results are not a guarantee of future resource definition or commercial production.
Luke Carlino is a seasoned Copywriter, Content Strategist, and Social Media Manager specialising in Mining, Finance, and Business journalism. With more than a decade of industry experience, he brings rigorous editorial standards and commercial acuity to every project.
