Lithium Plus Minerals Ltd (ASX:LPM) is set to kick off a 1,000-metre reverse circulation (RC) drilling program at the Liana Prospect of its Bynoe Lithium Project in the Northern Territory.
This final round of drilling for the 2024 field season targets mapped pegmatites beneath historical workings, which coincide with significant lithium-in-soil anomalies.
To optimise exploration expenditure and focus on high-priority, new-discovery targets, the company has opted for a reduced Reverse Air Blast (RAB) drilling program.
The RC drilling program is expected to conclude in early December 2024, with results anticipated in early 2025.
Management Commentary
Commenting on the Bynoe Lithium Project, Executive Chairman, Dr Bin Guo, said: “We are excited to be commencing the final round of RC drilling for the 2024 field season.
“The current programme of drilling culminates at our Liana Prospect, which represents another high-potential target within our broader Bynoe Lithium Project.
This region continues to demonstrate significant potential for new lithium discoveries, and we believe that the Lei Deposit is the first of many similar-style deposits waiting to be delineated across our fertile pegmatite fields.
“Results delivered to date, in conjunction with our exploration thesis, underpin
our strategy to define and develop multiple lithium resources to meet growing global demand.
“As we continue to explore, we are equally focused on progressing towards near-term production opportunities, with our direct shipped ore development pathway for our Lei Discovery offering a rapid commercialisation opportunity, set to unlock early value for stakeholders.”
Forward Plan
Lithium Plus Minerals Ltd is actively advancing its Bynoe Lithium Project on multiple fronts.
The company is committed to progressing the Lei Deposit towards near-term Direct Shipping Ore (DSO) production, with initial metallurgical test work completed and low-cost economic assessments underway.
Additionally, drilling activities at the Perseverance Prospect will target recently interpreted fresh pegmatites at depth.
Further soil geochemistry programs will focus on target prioritisation and refinement within the Kings Landing area, extending into untested regions.
What’s more, the company anticipates analysing assay results from the Liana Prospect drilling program in early 2025 to incorporate them into future resource modeling.
https://juststocks.com.au/lithium-plus-minerals-to-commence-reverse-circulation-drilling-at-liana-prospect/
