Lithium Plus Minerals Limited (ASX: LPM) has announced promising results from its initial drilling campaign at the Perseverance Prospect in the Kings Landing Area of the Bynoe Lithium Project. The five-hole drilling program, combining reverse circulation and diamond drilling techniques, built on the positive findings from the 2022 exploration, confirming spodumene mineralization in fresh pegmatite.
Assay results from three of the Perseverance Prospect holes, notably BYPRC012, demonstrated significant spodumene mineralization, with an impressive 19-meter interval at 1.58% Li2O from a depth of 148 meters, including a 4-meter section at 2.62% Li2O. An initial reconnaissance diamond drill hole was also completed at Jenny's Prospect, with pending assay results expected by October 2023. The success at Perseverance has prompted plans for expanded follow-up drilling to define the extent of high-grade spodumene mineralization, and the RD/DD rig has been relocated to accelerate resource definition drilling at the Lei Prospect. Lithium Plus Minerals remains on track to declare its maiden high-grade lithium resource by Q4 2023.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
