Ann: Spodumene-Rich Pegmatite Drilled at Andover, page-27

AP0012pegmatite has been targeted in these first drill holes as they already have the approvals to drill in this area.

There are hundreds of pegmatites outcropping (over 700 by the MD's words) - but do note that the same pegmatite can outcrop multiple times in different areas. So the total number of pegmatites would be less than the 700+ stated (but its still a significantly large amount and the pegmatites are quite large).

The next holes should now prove up some size:
"Drilling continues at the AP0012 prospect with a third hole planned to test for the pegmatite intersected in ANDD0201 and ANDD0202 at a shallower depth and along strike*"*

It's possible that AP0012 pegmatite alone if consistently mineralised could prove up to be significant deposit on its own


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In this latest interview yesterday with the MD:

He mentions that they have a lot of "higher priority targets" (those would be the ones with the highest grade spod outcropping) that they cant drill yet due to the permits/approvals. The results so far in the pegmatite intersected in the area where they already have approval is already proving to be very encouraging here (and that's not even their highest priority target).

The assays could come back with something like 27m + 22m at 2% Li2O - which i think the market will get really excited about being the first 2 holes ever drilled targeting lithium. It just proves the potential here with very encouraging early results. It makes sense why SQM thought this has the potential to be quite a large system.


For the other permits:
E 47/4700 is pending. Applied 07/06. Referred to native titles under expedited procedure 5/12.
E 47/4701 is pending. Applied 07/06 referred to native titles under expedited procedure.

How long these take to be approved is unknown. But in the meantime they will focus on proving up AP0012 which is showing really good early results (and possibly other pegmatite targets in the already approved area)