Develop Global (ASX:DVP) said infill drilling results have exceeded the resource model at its Pioneer Dome lithium project in Western Australia, according to a Thursday Australian bourse filing.

The results were up to 32 meters at 1.71% lithium oxide and 52 parts per million tantalum pentoxide, from 64 meters and 37 meters at 1.62% lithium oxide and 51 parts per million tantalum pentoxide, from 64 meters.

The company said a final investment decision (FID) is targeted next month based on 850,000 tonnes of direct shipping ore (DSO), with current market prices indicating above AU$500 per tonne, with the FID release to include forecast costs and cash flows.

Pre-production capital cost is estimated at AU$35 million to AU$40 million, potentially to be funded through a project finance debt facility with the preferred offtake partner, with first DSO sales targeted in the December 2026 quarter, the filing added.

At spot carbonate prices, indicative DSO pricing is in the range of $362 to $430 per tonne CIF China for a 1.2% lithium oxide product, based on shortlisted non-binding offtake proposals, it added.

The company's shares rose 1% in recent Thursday trade.