Lithium Plus Minerals Ltd. (ASX: LPM) has released an updated Mineral Resource Estimate for its Bynoe lithium project in the Northern Territory, reporting a significant boost to its primary deposit. The company announced a 34% increase in contained lithium at the Lei deposit, with the total resource now estimated at 5.22Mt at 1.50% Li₂O.

This update reflects the results of recent infill drilling, which tightened the drill density across central sections of the orebody. By reducing pierce-point spacing to approximately 50 meters, the company has refined the geological model and improved the confidence of the classification. Notably, the portion of the resource categorised as Indicated has grown to 55%, a key step in reducing the technical uncertainty associated with the asset.

"This upgraded Mineral Resource Estimate is an outstanding milestone for the Company and firmly establishes Lei as a standout, high-grade asset within the Bynoe Pegmatite Field. Delivering a 34% increase in contained lithium, together with the substantial upgrade of 55% of the resource to the Indicated category, provides a highly robust geological foundation." — Dr Bin Guo, Executive Chairman

The upgraded model accounts for both the high-grade spodumene-bearing core and the lower-grade pegmatite skin, providing a more representative picture of the mineralisation for future mining operations. Beyond the current resource, the company has defined several Exploration Targets across the Lei and Perseverance pegmatites, suggesting further inventory growth remains possible as exploration continues.

The company is currently pivoting its strategic focus for the Bynoe project toward a low-capex Direct Shipping Ore (DSO) operation. By leveraging the high-grade nature of the Lei resource, the business aims to expedite the transition toward near-term cash flow. This operational shift remains the primary driver of the company’s current development activity in the region.

To support this objective, the ongoing assessment of the DSO potential will be formalised through a project scoping study, which is expected to be completed in early Q4 2026. This study will incorporate the improved geological data from the updated resource model to better define the project's economic parameters. With the recent resource upgrade in place, the company remains positioned to continue its commercialization efforts while maintaining focus on the next phase of its technical de-risking and development strategy for the project.

Read the full announcement: Lei Resource Upgrade Delivers 34% Increase in Contained Lith