Evergreen Lithium Limited (ASX:EG1) has announced the approval of its Mine Management Plan (MMP) for the Bynoe Lithium Project, enabling for the commencement of drilling and other high-impact exploration activities at its flagship project.
With the Aboriginal Areas Protection Authority certificate obtained in December 2023, EverGreen’s Bynoe Project has secured full permits to initiate exploration activities.
Extensive geochemical, geophysical, and mapping assessments conducted thus far have revealed promising indications of lithium-bearing LCT pegmatite-style mineralisation within the company’s EL 31774 lease, covering an expansive area of 231 square kilometres.
Planned exploration strategy
In the near term, EverGreen’s exploration strategy at the Bynoe Project entails auger and AC/RAB drilling to assess soil sample geochemical anomalies, ANT geophysical targets, and high-potential areas identified through recent mapping and desktop interpretation programs.
These activities will not only facilitate exploration but also enable the geology team to investigate beneath shallow cover units prevalent in the area.
Following the success of these initial programs, the company plans to undertake RC and diamond drilling to further explore strike and down dip extensions of identified pegmatites.
Management commentary
Andrew Harwood, Exploration Manager at EverGreen Lithium, expressed optimism about the upcoming field activities, emphasising the vast potential of the Bynoe Lithium Project.
“With all Bynoe exploration and drilling approvals now received and field conditions improving, it is expected that field activities will commence in the coming weeks.
“The Company looks forward to drilling on it’s 231Km2 lease at Bynoe, one of the largest land holdings in the Bynoe Pegmatite Field. The Company believes that its Bynoe Lithium Project hosts excellent and compelling drill-ready targets,” he added.
EG1’s Australian Security Exchange-listed share price is currently trading at $0.092 (12:30 pm UTC+ 8 hours).
