The Leo Lithium Ltd (ASX: LLL) share price is charging higher again today, up 2.7% in late morning trade.
The ASX lithium share closed yesterday trading for 76 cents. Shares are currently swapping hands for 77 cents.
With today's intraday gains factored in, Leo Lithium is now up a whopping 55% since this time last month.
Here's what's piquing ASX investor interest today.
What did the ASX lithium miner report?
The Leo Lithium share price is enjoying another day of gains after the company released a promising exploration update at its Goulamina project in Mali.
According to the release, the ongoing drilling campaign returned thick high-grade mineralisation outside of the current resource.
The Leo Lithium drill program is intended to increase confidence in the orebody, increase the overall resource base, and convert a "significant amount" of Inferred Resource into the Indicated Resource category.
Among the significant down-hole pegmatite intercepts, Leo Lithium noted:
- 92 metres at 2.01% Li2O, from 132 metres; including 36 metres at 3.00% Li2O, from 132 metres
- 7 metres at 1.43% Li2O, from 83.2 metres
Commenting on the results sending the Leo Lithium share price higher again today, managing director Simon Hay said:
The latest results show excellent intercepts and grades outside the current pit shell. With the potential to grow the Mineral Resource outside the current project area, the opportunity to unlock further value from the outstanding Goulamina asset continues to be apparent.
Hay added that with ongoing drilling continuing, Leo Lithium is on track to update the Mineral Resource Estimate for Goulamina in late June.
The ASX lithium stock intends to release a reserve upgrade in August.
"Our project also remains on schedule for first spodumene concentrate product in late H12024, and early revenue materialising from the DSO in the second half of this year," Hay said.
Leo Lithium share price snapshot
The Leo Lithium share price is up 49% since 23 June. The ASX lithium stock has gained 58% so far in 2023.
Leo Lithium is a relative newcomer to the ASX. The company listed on the exchange on 23 June 2022.
