Source: Shutterstock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

LPM by the numbers
More From The Market Herald
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) schedules heritage survey at Mt Sholl ahead of drilling

Raiden Resources (ASX:RDN) prepares for a heritage survey across the drill targets within its Mt Sholl…

" Altech Chemicals (ASX:ATC) advances financing activities for Malaysia HPA project

Altech Chemicals (ASX:ATC) has advanced project financing activities for its Malaysia high-purity alumina (HPA) project.

" Booktopia (ASX:BKG) to open new customer fulfilment centre

Booktopia (ASX:BKG) has secured a new, a larger 20,000 metres square clean skin customer fulfilment centre…

" Alligator Energy (ASX:AGE) commences first exploration work on Nabarlek North Project, NT

Alligator Energy (ASX:AGE) has commenced its airborne gravity work at the Nabarlek North Project in the…