Cadence Minerals plc expects higher impact exploration to start at the Bynoe lithium project following recent approval of the mine management plan.
The company’s investee Evergreen Lithium Ltd’s activities will include auger sampling as well as air core/rotary air, reverse circulation and diamond drilling.
Contractors have been secured for the 2024 scheduled work programme to drill test geochemical and geophysical anomalies.
Cadence holds 15.8 million shares in Evergreen after selling its 31.5% stake in Lithium Technologies and Lithium Supplies in 2022.
A further AS$3.47m (£1.86m) shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen.