IRIS General Discussion, page-272

Referring only to the Black Hills area you will see IR1 has a much larger tenement holding with many more old mine workings and historic mines. The photos from the last ann clearly show the large spodumene crystals in the previously mined pegmatites.

The sparse nature of previous mine workings for PAT's Keystone project for me is a good reason i won't invest in PAT. I think it is hyped largely on this project.

IR1 already have approved mining licences for the area they will initially be drilling, hence they can go straight into mining approval process if drilling results successful.

As you mentioned $1.5M cash for IR1 and need for capital raise in near future is the only area PAT has an advantage.

IR1 has small market cap and very low SOI, given the potential prospectivity of their ground (which i believe is much higher than PAT's Keystone project, for the reasons above) i feel IR1 has the best chance of success and potential for defining a much larger resource than PAT in the Black Hills area. Previous rock chip sample assays should be due soon as well. Hope this helps.