If funds are available at half price then why wouldn't you.
I wouldnt consider finding a huge pegmatite outcrop, much larger than Adina, that has high grade spod as stuffing around. The same goes for their other tenement Cancet with proven high grade mineralization. Better than sitting here twiddling your t
humbs while a company drills, waits for assays, and plans further holes of a single project.
This announcement has solidified the struct
ural corridor running around the Trieste formation and the team at Rio Tinto will have eyes on us. More so than they ever have.
There is some serious action that has taken place and being neighbours with Rio who have to spend 65m on the Midland JV to get to 70% ownership of Midlands lithium tenements. One being smack in the middle of Adina and Tilly.
Comet have already discovered pegmatite outcrops and have received permits to drill.
Rio is adjacent to them. Both are saying the structure runs east to west and the same as Adina.
Then you have LLI with their pegmatite outcrop and drilling happening at the moment.
Then adjacent to LLI is Tilly.
Apart from Adina, all this action has happened I'm the last six months.
Not Rio is directly below Comet and follows the Trieste formation.
Note that between LLI and Adina borders is only 14km.
Tilly is only 20kms from Adina already we have seen some form of collaboration in writing by WR1 and LLI.
When WR1 snapped up Tilly they were also talking about the same (east-west) lithium corridor Comet and also Rio were conveying. Read the caption in the photo above for insight.
Here is what Rio have recently said about Galinee.
"This Adina showing is located at the contact between amphibolites of the Trieste Formation to the south and felsic intrusives to the north. This contact is marked by a major structure that most likely controlled the emplacement of pegmatites on the Adina showing. This same highly favourable contact is present on Midland’s Galinée property over more than 7 kilometres and has never been explored for lithium in the past.
So within 20-30km Strike constituting of Adina, Comet, LLI and Tilly, ALL of which have spodumene bearing pegmatites discovered recently.
Comet not confirmed by assay yet but have announced intentions to kick off drilling.
Comet also believes it branches out to the North east but I am more inclined to think they would suggest it follows round the Trieste formation where Rio/Midland are located. There may be potential for both North east and South East but south east along the formation has already proven successful for Rio, LLI and WR1 all trending south east along the formation.
Some more MA action on the cards in future!
(20min delay)