Ann: Placement Completed to Drive Li/REE Exploration, page-18

Comrades

one project I thought would be worked on before the others was the Preston River lease ...as per following details but I guess with so much land area management are going for what they might consider the best chances projects of hitting lithium or REE..

Preston River – Li (Preston River) 146km2

The Preston River Lithium project consists of one tenement application (E70/5871, Figure 6) within the southwest region of Western Australia, located 20km east of Donnybrook and 30km north of the town of Greenbushes. The project is adjacent to Lithium Australia Limited (ASX:LIT) Greenbushes lithium project. LIT $63M mc

Geological Setting
The project area is underlain by granite gneisses and migmatites of the Balingup Metamorphic Belt. Potentially located slightly east of the significant Donnybrook Bridgetown Shear Zone associated with the major Greenbushes Pegmatite, the area appears devoid of any previous Li/REE exploration.




Exploration history and potential The Preston River tenement is situated only 30 kilometers north of the Greenbushes tin – tantalum – lithium field in similar geological terrane. In addition, the area has several major faults similar to those that seem to influence the siting of the mineralised Greenbushes pegmatites. It would therefore seem to be logical that the area is prospective for Greenbushes – type tin – tantalum – lithium mineralisation. The area has had only minimal previous exploration indicating considerable potential for mineralised pegmatites.