Lithium Plus Minerals (ASX:LPM) | Lei Resource Upgrade Delivers 34% Increase in Contained Lith
Episode: Lithium Plus Minerals Limited (ASX:LPM) — Lei Deposit Mineral Resource Upgrade, Bynoe Lithium Project
Lithium Plus Minerals Limited (ASX: LPM) has released an upgraded Mineral Resource for the Lei Deposit at its 100% owned Bynoe Lithium Project in the Northern Territory. The updated Resource stands at 5.22 million tonnes at 1.50% lithium oxide, containing 78.42 thousand tonnes of lithium oxide. This represents a 34% increase in contained lithium and approximately 28% more tonnes compared with the previous estimate of 4.09 million tonnes at 1.43% lithium oxide.
Resource confidence has also improved, with 55% of the Resource now classified as Indicated. The updated Resource comprises an Indicated category of 2.85 million tonnes at 1.49% lithium oxide and an Inferred category of 2.37 million tonnes at 1.51% lithium oxide.
The company attributes the Resource growth to additional drilling, extensions at depth and along plunge, infill drilling, updated geological modelling and revised estimation methods. Exploration Targets have also been outlined across three areas, Lei Primary, Lei Secondary and Perseverance, with a combined conceptual range of 7.6 to 19.4 million tonnes at 1.2% to 1.6% lithium oxide. These Exploration Targets are conceptual in nature and are not Mineral Resources.
According to the company, the larger and higher-confidence Resource supports ongoing development studies for a proposed underground Direct Shipping Ore operation. Work continues across metallurgy, mine planning, environmental studies and permitting, with a Scoping Study expected in early Q4 2026.
This episode examines the updated Mineral Resource, the increase in Resource confidence, the exploration upside outlined in the announcement, and the next milestones as Lithium Plus Minerals progresses its development studies.
Announcement date: 15 July 2026.
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