Lithium Plus Minerals (ASX:LPM) has upgraded the mineral resource estimate (MRE) for the Lei deposit at its Bynoe Lithium Project, increasing contained lithium by 34% to 78,420 tonnes of lithium oxide.
The company says the updated MRE increases the proportion of Indicated Resources to 55% of the total resource.
“Delivering a 34% increase in contained lithium, together with the substantial upgrade of 55% of the resource to the indicated category, provides a highly robust geological foundation,” Executive Chairman Dr Bin Guo says.
The resource growth was driven by additional drilling completed since the maiden estimate in December 2023, which reduced pierce-point spacing from approximately 100m to 50m across central portions of the orebody. The tighter drill density improved definition of pegmatite geometry and reduced uncertainty around internal waste rafts.
The updated estimate comprises 2.85 million tonnes (Mt) @ 1.49% lithium oxide (Li₂O) in the indicated category and 2.37Mt @ 1.51% Li₂O in the inferred category, based on a 0.5% cut-off grade.
Key drill intersections contributing to the resource growth included 10m @ 1.69% Li₂O from 614m and 34m @ 1.69% Li₂O from 396m.
The company has also identified exploration targets across the Lei and Perseverance pegmatites, with combined potential ranging from 7.6–19.4Mt at grades between 1.2% and 1.6% Li₂O.
Lithium Plus says the Lei primary pegmatite remains open at depth, while the Lei secondary pegmatite located 170m east of the primary pegmatite demonstrates potential for future resource expansion through additional drilling.
The company expects to complete a Scoping Study for a proposed direct shipping ore operation in early Q4 2026, supported by the substantially larger and higher-confidence resource base.
The Lei deposit is located within the established Bynoe Pegmatite Field, approximately 45km south of Darwin. Lithium Plus says its proximity to existing lithium mining infrastructure could provide future development synergies.
Write to France Pinzon at Mining.com.au
Images: Lithium Plus Minerals
