Lithium Plus Confirms Thick Pegmatite Zones at Liana, Eyes 2025 Expansion

Quarterly Drilling Success at Liana Prospect

Lithium Plus Minerals Limited (ASX: LPM) has wrapped up a four-hole reverse circulation (RC) drilling program at its Liana Prospect, part of the broader Bynoe Lithium Project in the Northern Territory. The drilling intersected significant pegmatite zones beneath historical tin workings, validating surface lithium-in-soil anomalies as reliable indicators of mineralisation. Notably, intervals of pegmatite up to 20 meters thick were encountered, including both weathered and fresh material, underscoring the prospect's potential.

Two of the drill holes were suspended prematurely due to deteriorating pad conditions, necessitating follow-up deeper drilling in the upcoming 2025 field season. The program’s pause aligns with seasonal weather constraints, but the company remains optimistic about the prospect’s geological promise.

Expanding Exploration Footprint and Targets

Beyond Liana, Lithium Plus has identified several new drill targets to the north, broadening the scope of its exploration efforts. The company plans to intensify drilling activities at the Perseverance Prospect, targeting fresh pegmatites at depth, alongside shallow RAB drilling to test geochemical anomalies. Soil geochemistry programs will also continue at the Kings Landing Area to refine and expand target zones.

This strategic expansion reflects Lithium Plus’s commitment to leveraging its extensive tenement holdings across the Bynoe Lithium Project, which shares a border with Core Lithium's Finniss mine development, a notable lithium operation in the region.

Financial Position and Operational Outlook

Financially, Lithium Plus ended the quarter with a robust cash balance of A$4.08 million and no debt, providing a solid runway for its exploration ambitions. The company incurred A$0.572 million in exploration and evaluation expenditure during the quarter, focused on drilling, metallurgical test work, environmental impact assessments, and detailed geological mapping.

Operating cash flows were negative for the quarter, reflecting the typical investment phase of a junior exploration company. However, with over four quarters of funding available at the current burn rate, Lithium Plus is well-positioned to sustain its activities into 2025 without immediate capital raising.

Strategic Implications and Next Steps

The confirmation of substantial pegmatite zones at Liana adds a valuable piece to Lithium Plus’s growing portfolio of lithium prospects. The company’s methodical approach, combining drilling, geochemistry, and environmental studies, demonstrates a disciplined pathway toward resource definition and potential development.

Investors will be watching closely for assay results expected early in the new calendar year, which will provide critical data on lithium grades and mineralisation continuity. These results will inform the scale and focus of the 2025 field season, which promises to be a pivotal period for Lithium Plus’s advancement.