Join our daily newsletter At The Bell to receive exclusive market insights
- Lithium Plus Minerals (LPM) is set to begin phase three drilling at its flagship Bynoe lithium project in the Northern Territory
- The campaign will include around 3000 metres of diamond drilling, 10,000 metres of reverse circulation (RC) drilling and 5000 metres of rotary air blast (RAB) drilling
- LMP says it’s “delighted” to have onboarded DDH1 as its drilling contractor
- The program will begin with infill and extensional diamond drilling at the company’s Lei prospect
- Shares in LPM are up 2 per cent to 25.5 cents at 12:46 pm AEST
Lithium Plus Minerals (LPM) has unveiled fresh drilling plans at its flagship Bynoe lithium project in the Northern Territory to commence in May 2023.
The company has secured DDH1 Drilling as the contractor for its phase three drilling program, which includes around 3000 metres of diamond drilling, 10,000 metres of reverse circulation (RC) and 5000 metres of rotary air blast (RAB) drilling.
LPM Executive Chairman Dr Bin Guo said the company was pleased to onboard DDH1 as its drilling contractor.
“We are delighted to have again secured a drilling contractor of DDH1’s calibre, with extensive experience in the Bynoe pegmatite field for the 2023 field season,” Dr Guo said.
“We look forward to the imminent mobilisation of the diamond rig to the Bynoe Project with the commencement of drilling scheduled to begin in the coming weeks.”
The DDH1 diamond rig will be mobilised at the project in the coming weeks, with drilling to start at LPM’s Lei prospect.
Infill and extensional diamond drilling at the prospect will mark the start of the program, and the company said there existed a “strong potential” to delineate a maiden high-grade lithium resource in the area.
The company then aims to move on to its Perseverance prospect at the Kings Landing area to test lithium-bearing pegmatites identified in the fourth quarter of 2022.
High-priority targets will also be tested at the Kings Landing area through RAB drilling, while RC and diamond drilling are planned for the Jewellers, Jewellers Extended and Jennys pegmatite systems.
Shares in LPM were up 2 per cent to 25.5 cents at 12:46 pm AEST.
