- Lithium Plus Minerals (ASX:LPM) kicks off RC drilling at a target called Jenny’s
- The 2000-metre campaign will take place as LPM moves towards a maiden resource for Lei in Q4 of 2023
- A more thorough diamond tip and RC rig run will kick off renewed at the Perseverance target before 2024
- Shares last traded at 46 cents
Lithium Plus Minerals (ASX:LPM) has launched an RC drill run at a key target of interest called Jenny’s prospect.
Shareholders will likely be closely watching, given that Jenny’s is an untested target for the company.
Mineralisation is believed to be shallow and a diamond drill rig – able to go to depths RC and aircore can’t – will certainly help test this thesis.
Last lithium plus push of 2023
The 2000-metre campaign launched today follows up on a shorter 922-metre program.
Lithium Plus recently concluded that short RC run at Perseverance, a separate target.
Preliminary data results from that 922-metre run will be available in December.
At the same time, LPM will return a diamond tip and RC rig to Perseverance before the end of 2023 to launch a more thorough campaign.
Lei maiden JORC inbound
The drilling at Jenny’s, and the second run at Perseverance, together reflect LPM’s final exploration push for the 2023 calendar year.
In the background looms large the pending maiden JORC resource for its Lei target – that, the company says, shareholders can expect before Janu
“With the short, drilling program now complete at Perseverance, we have moved our dual-purpose DC/diamond rig to the nearby, untested Jenny’s Prospect,” LPM Chairman Dr Bin Guo said.
Exposure to China’s CATL
“In the meantime, we remain on track with our plans to declare a maiden high-grade Mineral Resource Estimate at the Lei Prospect before year-end.
“We are excited to begin drilling at Jenny’s, the third of our many outcropping pegmatite targets across the Bynoe Project area.”
Lithium Plus recently roused interest from Chinese entities when the company tapped investors for $8 million to carry on.
Chinese battery giant CATL is also handling some samples from Lei.
LPM shares last traded at 46 cents.