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EverGreen commence drilling at Bynoe

1 July 2024 11:35
ASX: EG1

EverGreen Lithium Limited (ASX:EG1) has announced the commencement of its drilling program at the Bynoe Project. Located just east of Core Lithium’s Finniss Mine, the field program will be used to test priority targets and identify potential lithium reserves.

Drilling and Exploration Activities

EverGreen will be using RAB (Rotary Air Blast) and Aircore drilling to test priority targets within its lease. This phase of drilling aims to progress geochemical studies in areas covered by Quaternary and Tertiary sediments, which have obscured previous exploration efforts.

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Figure 1: Soil sample results with exploration targets at EverGreen’s Bynoe Project.

This new phase of drilling follows the approval of EverGreen’s Mine Management Plan (MMP) in April 2024. The plan outlines strategies to safely and efficiently explore the Bynoe Project, and recent dry ground conditions have allowed for the mobilisation of heavier vehicles and drilling equipment.

The preliminary auger program has already yielded promising results, guiding further exploration towards identifying potential LCT pegmatite corridors.

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Figure 2: RAB drilling in the field at EverGreen’s EL 31774.

Management comments

Andrew Harwood, EverGreen’s Exploration Manager, expressed confidence in the project’s potential. “We are pleased to have commenced drilling on EverGreen Lithium’s 231km2 lease at the Bynoe Project, one of the largest land holdings in the Bynoe Pegmatite Field. The Company believes that this project hosts excellent and compelling drill-ready lithium targets.”

“The RAB/AC drilling program’s primary objectives are lithological mapping beneath the thin cover units, and to test priority targets. These targets include interpreted fault structures, soil geochemical anomalies, historic tin-tantalum surface workings and the Ambient Noise Tomography ( ANT ) geophysical targets.”

Next steps

The 2024 work program is comprehensive, including auger and RAB/AC Drilling, field mapping and then depending on initial findings, more advanced drilling techniques like RC (Reverse Circulation) and diamond drilling may be employed.

EG1’s Australian Security Exchange-listed share price is currently trading at $0.068 (11:30 am UTC+ 8 hours)

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