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  • Newly listed Lithium Plus Minerals (LPM) is set to begin a drilling program at its flagship Bynoe lithium project in the Northern Territory
  • Drilling can now begin after the mining management plan was approved by the Northern Territory Department of Industry, Tourism and Trade
  • Darwin-based contractor GeoDrilling has been contracted to undertake 10,000 metres of reverse circulation (RC) drilling and will mobilise in the coming weeks
  • Drilling will focus on the Lei and Cai prospects and is expected to take roughly four months to complete
  • Shares in LPM are up 39 per cent on the market and were trading at 41 cents at 11:30 am AEST

Lithium Plus Minerals (LPM) is set to begin a drilling program at its flagship Bynoe lithium project in the Northern Territory.

Drilling can now begin after the mining management plan (MMP) was approved by the Northern Territory Department of Industry, Tourism and Trade for tenements EL31133 and EL31091.

Darwin-based contractor GeoDrilling has been contracted to undertake 10,000 metres of reverse circulation (RC) drilling and will mobilise in the coming weeks.

Drilling will focus on the Lei and Cai prospects and is expected to take roughly four months to complete.

“We are delighted to have secured a locally-based drilling contractor, with extensive experience in the Bynoe pegmatite field, for the 2022 field season,” Executive Chairman Bin Guo said.

“With all permitting activities now completed, we look forward to the rapid mobilisation of the RC rig to Bynoe and commencement of drilling in the next few weeks.”

“Our initial focus is the Lei and Cai Prospects, where we believe there is strong potential to delineate a maiden high-grade lithium resource at Bynoe,” Dr Guo concluded.

Shares in LPM were up 39 per cent on the market and were trading at 41 cents at 11:30 am AEST.

LPM by the numbers
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