- Lithium Plus Minerals (LPM) will commence drilling at its Bynoe lithium project in the Northern Territory this week
- Contractor May Drilling will undertake the diamond drilling program, which will include nine holes, for 1800 metres, at the Lei Prospect
- Drill pad preparation works have been completed and the drill rig has been moved to the site
- Additionally, LPM said its reverse circulation drilling program the prospect is also on track to commence this month and will take about four months to complete
- On the market, LPM shares are up 2.44 per cent to end the day trading at 42 cents
Lithium Plus Minerals (LPM) has geared up to commence drilling at its Bynoe lithium project in the Northern Territory this week.
Contractor May Drilling will undertake the diamond drilling program, which will include nine holes, for 1800 metres, at the Lei Prospect.
Drill pad preparation works have been completed and the drill rig has been moved to the site.
Additionally, LPM said its reverse circulation drilling program the prospect is also on track to commence this month and will take about four months to complete.
Executive Chairman Bin Guo is delighted to announce the mobilisation of a diamond drill rig to Bynoe.
“We are fortunate to now have two locally-based drill contractors secured for the 2022 field season,” Dr Guo said.
“Both teams possess extensive operating experience on the Bynoe pegmatite field. Our initial focus is the Lei and Cai Prospects, where we believe there is strong potential to delineate a maiden high-grade lithium resource by Q1 2023.”
On the market, LPM shares were up 2.44 per cent to end the day trading at 42 cents.