- Lithium Plus Minerals (LPM) intersects 43 metres of pegmatite from a maiden diamond hole at the Lei prospect in the Northern Territory
- The hole was drilled to target the down-dip expression of lithium mineralisation 50 metres below the discovery hole which intersected 1.43 per cent lithium oxide
- The core sample from this maiden diamond hole has been sent for detailed logging and sampling and a second hole is underway with results to support future drilling
- Lithium Plus is hoping to delineate a maiden lithium resource by the first quarter of 2023
- LPM is up 5.79 per cent with shares trading at 64 cents at 1:31 pm AEST
Lithium Plus Minerals (LPM) has intersected 43 metres of pegmatite from a maiden diamond hole at the Lei prospect in the Northern Territory.
BYDD001 was drilled to target the down-dip expression of lithium mineralisation roughly 50 metres below the discovery reverse circulation (RC) hole which intersected 12 metres at 1.43 per cent lithium oxide.
Lithium Plus Minerals said the maiden hole samples “visibly validated” the historical spodumene-bearing pegmatite system at depth.
The core sample from this maiden diamond hole has been transferred to Lithium Plus’ logging facility in Darwin for detailed logging and sampling.
The core is set to be processed for hyperspectral scanning through the Northern Territory Geological Survey (NTGS) which will capture data to facilitate detailed characterisation of the mineralogical composition of the core.
A second hole is currently underway with results from the phase one program set to provide detailed characterisation and key structural information for future drilling programs.
Phase two drilling, consisting of six holes, will aim to further define lithium-bearing pegmatites.
“We look forward to processing the core and receiving the assay results in the coming weeks as well as the results from the second cored hole. With the RC rig starting soon, we remain confident for the potential to delineate a maiden lithium resource by Q1 2023,” Executive Chairman Dr Bin Guo said.
Lithium Plus was up 5.79 per cent on the market with shares trading at 64 cents at 1:31 pm AEST.