EL 31137 and EL 31213 Utopia Project Annual and Final Technical Report 3 October 2016 to 23 March 2020

Abstract

Lithium Plus Pty Ltd acquired the two tenements which form the Utopia Project (EL 31213 and EL 31137) from Kingston Resources Ltd through a corporate transaction incorporating a larger package of Northern Territory tenements covering the Bynoe and the Arunta regions. This package of tenements is targeting the area's potential to host hard rock lithium in pegmatite mineralisation. The focus on lithium exploration was due to an increasing lithium price due lithium ion battery use and production in electric vehicles and battery storage. This steep increase kicked off in late 2016 and was diminishing in 2019. Kingston Resources and Lithium Plus collected 11 rock chip samples over multiple fieldtrips and collected 558 soils in a NE/SW orientated 800m by 50m grid within the Utopia Project. Overall results were low, downgrading the prospectivity of the area. Lithium Plus has explored more advanced (elevated in lithium) pegmatites within the Arunta region identifying that the prospective pegmatites were commonly phosphorous 'type' LCT pegmatites with no recorded spodumeme. Considering Utopia's disappointing results and the lack of success at more advanced Arunta pegmatites Lithium Plus has decided to relinquish EL 31213 and EL 31137 as of the 23rd of March 2020. No work was undertaken or expenditure incurred between the annual reporting date of 31st January and the effective relinquishment date 23th of March 2020.