Lithium Plus Minerals Mobilises Rig to Test Lei Target and Upgrade Resource
Key Takeaways
- Lithium Plus Minerals is mobilising a rig to start ten holes at Lei: eight RC holes at the Secondary Pegmatite and two diamond holes at depth in the Primary.
- The Secondary has no Mineral Resource, but carries an Exploration Target of 3.2Mt to 6.5Mt at 1.2% to 1.6% Li₂O.
- The Primary resource sits at 5.22Mt at 1.50% Li₂O for 78.42kt, with about 55% Indicated after July's 34% increase in contained lithium.
- The combined Exploration Target across Primary, Secondary and Perseverance is 7.6Mt to 19.4Mt, holding 91kt to 310kt of Li₂O.
- No assay timing or drilling dates were given, while Lei DSO studies and permitting continue, backed by a secured 20-year mining lease.
Drilling set to commence at Lei Lithium Project
Lithium Plus Minerals (ASX:LPM) has said the drill rig is currently being mobilised to site, with Lei Lithium Project drilling expected to commence shortly. The Lei deposit sits within the Bynoe Lithium Project in the Northern Territory.
The program, outlined in an announcement dated 12 October 2026, is built around two goals: testing a nearby secondary target and lifting confidence in the existing resource. In summary:
- Eight Reverse Circulation (RC) holes at the Lei Secondary Pegmatite, approximately 170m east of the Primary Lei Pegmatite
- Two diamond holes at depth in the Primary Lei Pegmatite, also designed to intersect the Secondary Pegmatite
- The nearby Perseverance target to follow, plus regional mapping and Rotary Air Blast (RAB) drilling to identify additional pegmatites
For investors, the point is that the drilling targets both resource conversion, meaning an upgrade of current Inferred material, and discovery upside. Executive Chairman Dr Guo framed it this way:
Dr Guo, Executive Chairman
“…this campaign is designed to deliver both immediate resource conversion and discovery upside…”
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Why is the Lei Secondary Pegmatite a priority target?
The Lei Secondary Pegmatite is a spodumene-bearing pegmatite system, broadly parallel to the Primary. Spodumene is the lithium-bearing mineral being targeted.
Previous intercepts
Earlier drilling has already returned spodumene-bearing mineralisation in the Secondary:
| Hole | Interval | Grade |
|---|---|---|
| BYLDD022 | **6.04m** from 298.96m | **1.2% Li₂O** |
| BYLDD011 | **5.00m** from 79m (including **3m @ 1.6% Li₂O**) | **1.0% Li₂O** |
| BYLDD034 | **4.00m** from 270m | **1.2% Li₂O** |
| BYLDD009 | **8.00m** from 83m | **0.5% Li₂O** |
The pegmatite remains open along strike and at depth. Drilling is relatively sparse, and substantial portions remain untested, particularly the shallower, up-dip portion. That gap is what the RC holes are designed to address.
Exploration Target context
The program is an initial step in testing the previously reported Exploration Target for the Secondary of approximately 3.2Mt to 6.5Mt at approximately 1.2% to 1.6% Li₂O.
The potential quantity and grade of the Exploration Target are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource. No Mineral Resource has been estimated for the Lei Secondary Pegmatite.
Preliminary mine planning is also evaluating a configuration in which an underground decline may be positioned between the Primary and Secondary pegmatites, potentially allowing shared access infrastructure. Any such concept remains subject to further drilling, studies and approvals.
What is the difference between RC and diamond drilling?
RC drilling is a cost-effective method for testing shallow ground, which is why the company has chosen it for the up-dip Secondary Pegmatite. It returns rock chips for sampling.
Diamond drilling extracts solid core, giving richer geological detail at depth. That suits the goal of improving confidence in the Primary’s existing Inferred material.
Resource categories signal confidence. Inferred material carries lower geological confidence, while Indicated carries higher confidence. Higher-confidence categories generally matter for development studies and funding, so upgrades can carry weight for the project’s progress.
Building on the July 2026 resource upgrade
The drilling follows the July 2026 upgrade of the Primary Lei Mineral Resource to 5.22Mt at 1.50% Li₂O for 78.42kt contained Li₂O, with approximately 55% in the Indicated category. The upgrade was released under the title “Lei Resource Upgrade Delivers 34% Increase in Contained Lithium”.
| Category (0.5% cut-off) | Tonnage (Mt) | Grade (% Li₂O) | Metal (kt) |
|---|---|---|---|
| Indicated | **2.85** | **1.49** | **42.55** |
| Inferred | **2.37** | **1.51** | **35.88** |
| Total | **5.22** | **1.50** | **78.42** |
The company says the program forms part of its strategy to grow the resource base surrounding the proposed Lei DSO (direct shipping ore) development.
Separately, the combined Exploration Target across the Primary, Secondary and Perseverance pegmatites is 7.6Mt to 19.4Mt, containing 91kt to 310kt Li₂O, and carries the same conceptual caveat.
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Next steps and what to watch
The company has set out the following steps:
- Commence the two planned diamond holes and complete the eight RC holes
- Log and sample the drill core and RC chips, then submit samples for laboratory assay
- Assess whether results support a future Mineral Resource Estimate for the Secondary Pegmatite and/or an update to the classification of portions of the Primary Lei Mineral Resource
- Evaluate follow-up drilling at Lei, then progress planned drilling at Perseverance and regional RAB targets
- Continue the Lei DSO development studies and permitting activities in parallel
The announcement does not disclose assay timing or specific drilling dates, so watch for further updates.
The Lei DSO development studies are running alongside the environmental approvals process, with the Supplementary Environmental Report lodged with the NT EPA and a 20-year mining lease already secured.
Dr Guo said the company is “…maintaining strong momentum as we advance Lei toward a potential low-cost DSO operation.” With drilling, studies and permitting running concurrently, that is the thread to follow.
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