Lithium Plus Advances Lei Lithium Project and Uncovers Large-Scale Gold Potential at Wingate
Lithium Plus Minerals Limited (ASX: LPM) reported significant progress on its Lei Lithium Development with advancing environmental approvals and infrastructure design, while its Wingate Project reveals promising large-scale gold potential. The company maintains a solid cash position of AUD 3.6 million as it prepares for upcoming exploration campaigns.
- Lei Lithium Project advances with positive environmental assessment and detailed infrastructure design
- Wingate Project identifies extensive gold-in-soil anomalies and historical high-grade gold intersections
- Cash balance of AUD 3.6 million at quarter-end supports ongoing exploration and development
- Offtake Memorandum of Understanding secured with Canmax for spodumene concentrate
- Ore sorting and metallurgical test work indicate strong economic potential for lithium processing
Progress at Lei Lithium Development
Lithium Plus Minerals Limited (ASX: LPM) has made notable strides in advancing its Lei Lithium Project, situated within the Bynoe Lithium Field near Darwin. During the March quarter, the company received a positive notice from the Northern Territory Environmental Protection Authority (NTEPA), confirming that the Lei Development will proceed through a standard Supplementary Environmental Reporting (SER) pathway. This milestone reflects growing regulatory confidence and clears a critical hurdle for project advancement.
Complementing the environmental progress, detailed design work for the project’s surface infrastructure has been completed, underpinning updated capital cost estimates and supporting the SER submission. Ongoing surface water and groundwater monitoring programs continue to ensure environmental compliance. While exploration activities remain on hold during the wet season, planning is underway for a robust 2025 field season to further delineate resources and optimize development plans.
Wingate Project Unveils Large-Scale Gold Potential
In parallel, Lithium Plus has revealed compelling early-stage results from its Wingate Project, located approximately 150 km south of Darwin. The project area hosts the Fletcher’s Gully Goldfield, where extensive gold-in-soil anomalies exceeding 40 ppb Au extend over 1.5 km in strike and up to 450 m wide. Historical drilling has intersected significant gold mineralisation, including intervals such as 14 m at 0.94 g/t Au and 3 m at 10.1 g/t Au, highlighting the potential for a substantial orogenic gold system.
The company has expanded its footprint with two new tenement applications adjoining the existing Wingate tenure, adding approximately 292 square kilometres. Upcoming exploration programs, including detailed structural mapping and drill targeting, are planned once field access improves post-wet season, aiming to unlock the full potential of this underexplored gold province.
Financial Position and Strategic Partnerships
Financially, Lithium Plus ended the quarter with a cash balance of AUD 3.6 million and manageable trade creditors, positioning the company to sustain its exploration and development activities. No mining or production activities were conducted during the quarter, consistent with the company’s focus on advancing project readiness.
Strategically, Lithium Plus maintains a non-binding Memorandum of Understanding with Canmax Technologies Co. for the offtake of 50% of spodumene concentrate produced from the Lei Project. This agreement not only secures a pathway to market but also leverages Canmax’s processing capabilities in China, potentially accelerating lithium hydroxide production for battery markets. Canmax’s support extends to project financing arrangements, which could alleviate substantial downstream capital requirements.
Technical Advances Bolster Economic Prospects
Technical studies continue to reinforce the economic viability of the Lei deposit. Ore sorting trials conducted by global specialists Stark Resources GmbH demonstrated a 51% uplift in lithium grade with a 57.8% mass yield and low iron content, effectively separating waste material while recovering over 87% of lithium. Metallurgical test work confirms high amenability to beneficiation, with flotation recoveries exceeding 79%, supporting a direct shipping ore (DSO) commercialisation pathway.
The proposed Stage 1 development includes an underground mine with covered portal access, crushing and screening facilities, and road train loading infrastructure for transport to Darwin Port. The company’s integrated approach aims to streamline operations and capitalise on the region’s strategic advantages, including proximity to established lithium processing hubs and export routes.
Outlook and Next Steps
Looking ahead, Lithium Plus plans to intensify exploration at Wingate with detailed structural studies and drill-ready target generation. At Bynoe, the company will continue environmental studies and prepare for mining lease approvals while advancing field programs post-wet season. The combination of lithium development and gold exploration positions Lithium Plus as a diversified player in the Northern Territory’s mineral sector, with multiple value drivers in play.
Bottom Line?
With regulatory approvals advancing and promising exploration targets emerging, Lithium Plus is poised for a pivotal year in unlocking value from both lithium and gold assets.
Questions in the middle?
- When will the mining lease for the Lei Lithium Project be granted, and what are the key conditions?
- How will the company prioritise capital allocation between lithium development and gold exploration at Wingate?
- What are the timelines and expected volumes for spodumene concentrate production under the Canmax offtake agreement?
