Lightning Minerals Eyes Major Tungsten Potential at Warby

Why It Matters

A domestic high‑grade tungsten source would reduce reliance on China, supporting defence and clean‑tech supply chains while offering Lightning Minerals a high‑value growth catalyst.

Key Takeaways

• Assays confirm high‑grade tungsten at Warby, >50,000 ppm.
• China controls 83% of tungsten; Australian supply could diversify.
• Lightning Minerals plans geochemical mapping and drilling through 2027.
• Project complements EQ Resources' Mount Carbine operation nearby.
• Tungsten price surged 900% YoY, boosting shareholder upside.

Summary

Lightning Minerals (ASX:L1M) disclosed assay results from its Warby project that confirm high‑grade tungsten mineralisation, with some samples exceeding 50,000 parts per million (ppm). The announcement comes as the company seeks to add a critical‑metal asset to its primarily gold‑focused portfolio.

The results are notable because China currently supplies more than 83 % of global tungsten, and recent price action has seen the metal jump roughly 900 % year‑over‑year. With defence, aerospace and emerging electrification applications driving demand, a domestic Australian source could alleviate supply risk.

CEO Troy Bryce highlighted the proximity of Warby to EQ Resources’ Mount Carbine mine, noting the geological similarity and the potential for future collaboration. He also stressed that the high‑grade assays provide the data needed to move into a systematic drilling programme.

If the follow‑up geochemical mapping and drilling planned through 2027 confirm a larger vein system, Lightning could deliver a rare Australian tungsten project, diversify the nation’s critical‑minerals base and create significant upside for shareholders despite the company’s modest market cap.

Original Description

Lightning Minerals Ltd CEO Troy Brice talked with Proactive about the company's latest tungsten assay results from its 100%-owned Warby Project in North Queensland, where initial reconnaissance rock chip sampling has confirmed widespread high-grade tungsten mineralisation across multiple vein systems.

Lightning received assay results from 14 rock chip samples collected from historical workings across eight vein systems at the Warby Project. Tungsten values ranged from 750 parts per million to more than 50,000 parts per million, equivalent to over 5% tungsten.

Brice said the results provide important confirmation of the company's exploration thesis and strengthen the project's potential as a critical minerals opportunity. The assays validate historical workings in the area and demonstrate the presence of multiple mineralised structures across the project.

The CEO highlighted the favourable market backdrop for tungsten, noting increasing demand from defence, aerospace and advanced manufacturing sectors alongside constrained global supply. He said,

Watch the full interview to hear Troy Brice discuss the significance of the assay results, the next exploration steps at Warby and how the company plans to advance the project.

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