Lithium Plus Minerals (ASX:LPM) reports it has intersected ‘high-grade’ lithium at the Lei prospect, located within the Bynoe Project in the Northern Territory.
The coarse-grained spodumene bearing pegmatites with a ‘high’ lithium grade were confirmed by assays received for the 13 hole phase one exploration drilling program at the prospect, including 2 diamond holes for 493m and 11 reverse circulation (RC) holes for 1,968m.
The company states the initial drilling program was planned to target along strike and down-dip extensions of lithium mineralisation from the historic RC hole KBRC024 drilling in 2017 by Kingston Resources (ASX:KSN) which returned 12m @ 1.43% Li2O from spodumene-bearing pegmatite.
Lithium Plus reports the phase 1 results confirm the continuity of the ‘high-grade’ spodumene mineralisation beyond the historic drilling, and it indicates the primary spodumene-bearing pegmatite body at Lei extends over at least 130m strike length, is steeply east dipping, and is up to around 25m true thickness and open at depth.
Best results recorded at Lei by the company include 11m @ 1.48% Li2O from 196m and 17.8m @ 1.40% Li2O from 216.72m in BYLDD001, and 11m @ 1.03% Li2O from 173m and 13m @ 1.31% Li2O from 192m in BYLRC023.
Other results recorded include 14m @ 1.21% Li2O from 151m in BYLRC022, 8m @ 1.22% Li2O from 145m and 1m @ 0.99% Li2O from 186m in BYLRC015.
Lithium Plus Executive Chairman Bin Guo said the maiden drilling program on the Lei prospect is the first of the company’s broader exploration programs targeting a number of well exposed pegmatite systems.
“It is extremely encouraging to have confirmed a significant strongly mineralised pegmatite system at Lei, located only 1.5km from Core Lithium’s development centred on the Grants pegmatite.
We are keen to extend our diamond drilling program to chase the mineralised system down-plunge and will be back diamond drilling at Lei in the coming weeks.
“Armed with this additional proof of regional high-grade spodumene-bearing pegmatites, we are excited to extend the program to our targets at the Jenny’s and Perseverance Prospects”
Armed with this additional proof of regional high-grade spodumene-bearing pegmatites, we are excited to extend the program to our targets at the Jenny’s and Perseverance Prospects.
“With the progress to date, we remain excited about the potential to delineate a maiden lithium resource by Q1 2023.”
Currently, the Lithium Plus exploration team are interpreting the current geological model while planning a second phase of diamond drilling to target deeper extensions for at least 3 holes over 1,300m.
The company expects this second phase of diamond drilling to commence later this month, or in early November.
Meanwhile, Lithium Plus says the RC rig has been moved to the Perseverance prospect to test several identified outcropping pegmatites.
Lithium Plus Minerals is an Australian lithium exploration company with 21 tenements in the Northern Territory across the Bynoe Lithium Project, the Wingate Lithium Project, the Barrow Creek Lithium Project, the Spotted Wonder Lithium Project, and the Moonlight Lithium Project.
Images: Lithium Plus Ltd & iStock
