Swany, in my post yesterday I provided some figures from the two announcements to the ASX. Brief explanation: SRXC0017 has 76 metres from 140 metres, open at depth. There are a lot of very smart Geo's out there and none has attacked me as a 'complete' idiot, so here is my explanation.
Southern Cross drill hole (in this drilling campaign by XTC) #17. hit pegmatites 140 metres down hole = from the surface and the pegmatites continued for 76 metres. The BIG plus is they stopped drilling at that point and they were still in pegmatite mineralisation. That means, there maybe more pegmatite mineralisation if they keep drilling. (And that is the same with all holes drilled so far.) Pegmatites may contain Lithium and 100% it Will be variable over depth, width and length - drilling will define that. As @WATCHER (I cheat - @beobach...) said, approximately; we need the chem analysis 'down hole' to get a picture of the resource, before we can start guessing how good the area is. Trust me; the % of Lithium will vary metre by metre and hole by hole. This is where another group of very smart people get involved - they work to calculate a resource using the JORC. It takes time. A heap load of drilling will need to be done. The first step, as @beobach.. said, is lab results (and more drilling and more lab results) Hope this helps I see you Hold and suggest Hold cheers lemons
XTC Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
(20min delay)