Announcement Date: 2022-10-18
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Lithium Plus Minerals Ltd.
Project name: Bynoe
Location: Australia
Commodities: Lithium
Highlight: Drilling results incl. 14m at 1.21% Li2O from 151m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Lithium Plus Minerals Limited (ASX: LPM) (Lithium Plus or the Company) is pleased to provide an exploration and drilling update from the Phase 1 drilling program at Lei Prospect. This update provides the first assay results received from the program which confirm a coarse-grained spodumene-bearing pegmatite of high lithium grade. Thirteen holes were completed near the historic discovery hole as part of the initial drilling program including two (2) diamond holes (for 493m) and eleven (11) RC holes (for 1,968m) for a total of 2,461m. This initial program was planned to target along strike and down-dip extensions of lithium mineralization from the historic discovery RC hole (KBRC024) drilled in 2017 by Kingston Resources, which returned a highly encouraging 12m at 1.43% Li2O from spodumene-bearing pegmatite1. Phase 1 results confirm the continuity of the high-grade spodumene mineralisation beyond the historic drilling. Drilling indicates that the primary spodumene-bearing pegmatite body at Lei extends over at least 130m strike length, is steeply east-dipping, and is up to approximately 25m true thickness. The mineralised pegmatite is open at depth.
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