GR496 EL 31133, EL 31091, EL 31092, EL 31150, EL 31151, EL 31200, EL 31206, EL 31207, EL 31419 and EL 31485 Bynoe Project Annual Technical Report (3rd) 15 December 2018 to 14 December 2019

Abstract

Lithium Plus Pty Ltd acquired the Bynoe Project from Kingston Resources Ltd through a corporate transaction incorporating a larger package of Northern Territory tenements covering the Bynoe and the Arunta regions. The Bynoe Project comprises ten exploration licences EL 31133, EL 31091, EL 31092, EL 31150, EL 31151, EL 31200, EL 31206, EL 31207, EL 31419 and EL 31485 (Table 1). This package of tenements is targeting the area's potential to host hard rock lithium in pegmatite mineralisation. The lithium price increase and interest which began in late 2016 due to its increased global demand as a result of its use in battery technologies, has plateaued during 2019. Lithium Plus remains committed to lithium exploration and holds a strong belief that the fundamentals of the lithium market support a continued expanding demanding for lithium. The Bynoe area was pegged to target LCT type lithium bearing pegmatites sourced from the Two Sisters Granite. The lithium potential of the Bynoe Pegmatite field continues to highlighted by neighbouring companies definition of JORC resources at Grants, BP 33, Sandras, Carlton and Hang Gong. Core Lithium Ltd (CXO) currently have a JORC compliant resource inventory of 9.63Mt at 1.3% Li2O from the Bynoe Region across the five deposits. During the reporting period Lithium Plus collected 31 rock chip samples over two field investigations within the Bynoe Project. The tenements at the southern end of the project area was visited and sampled for the first time since granting, with no significant lithium anomalies identified.