Latest Lightning News

Lightning Minerals says reconnaissance sampling has expanded the Warby Project’s interpreted tungsten system well beyond its World War I-era workings, with rock chips grading up to 5.5% tungsten. The company has fast-tracked further soil sampling to define the anomalies before selecting maiden drill targets.

Terrain Minerals has lodged a prospectus for a $1.6 million entitlement offer, with the proceeds earmarked mainly for drilling at Smokebush and Lightning. The raise comes with a substantial dilution warning and a going-concern qualification if funding is not secured.

Otto Energy delivered a sharp rise in FY26 profit and operating cash flow, but the improvement came alongside falling production, depleted reserves and an unresolved asset monetisation plan. The debt-free oil and gas producer is now weighing a shareholder cash return while pursuing separate strategies for SM 71 and GC 21.

Terrain Minerals has posted a 54,000-ounce inferred gold resource at Lightning, alongside stronger exploration spending and a reduced FY2026 loss. The next test is whether further drilling, metallurgy and fresh capital can turn the starter resource into something more definitive.

Terrain Minerals has recorded gold recoveries of up to 93.7% from first-pass metallurgical testing at its Lightning Gold Project, using a conventional gravity and carbon-in-leach flowsheet. The results reduce a key technical uncertainty, although the work remains preliminary and is based on only three RC chip composites.

Terrain Minerals has secured a $1 million commitment from Gandel Metals at a 33.33% premium to market, anchoring a broader $2.513 million placement and rights issue. The funds will support the company’s largest planned RC drilling campaign at the Lightning gold and silver project.

Lightning Minerals has identified two distinct gold target corridors within the Western Zone of its Mt Turner Project, highlighting a 1km-long intrusion-related gold anomaly and multiple epithermal-style trends. Follow-up sampling and trenching are planned to refine these targets ahead of drilling.

Terrain Minerals has reported metallurgical leaching results from its Larin’s Lane Prospect showing rare-earth element recoveries up to 99% using methanesulphonic acid, alongside promising scandium and gallium extraction, setting a technical foundation for resource development.

Lightning Minerals has reinforced the Warby Tungsten Project's potential with Phase 2 rock chip assays showing five of six samples above 1% tungsten, peaking at 5.46%, and revealing polymetallic mineralisation including gold and tin. The company awaits further soil and drainage assay results to shape Phase 3 exploration.

Terrain Minerals’ 2026 IP survey at Smokebush has pinpointed seven top-tier gold drill targets, including the strongest chargeability anomaly near its Lightning deposit, setting the stage for a 2027 drilling campaign.

Terrain Minerals has released a maiden inferred mineral resource estimate at its Lightning Gold Project alongside advancing multiple critical and precious metals projects across Western Australia and Queensland.

Lightning Minerals has executed a strategic reset focusing on Australian gold and critical minerals, securing $1.85 million to accelerate exploration at its flagship Mt Turner and Warby Tungsten projects. Key technical milestones include an independent petrology study validating Mt Turner's gold system and promising tungsten assay results at Warby.