Ann: Final Concessions Granted at Catamarca, page-33

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mrmattyman

415 Posts.

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22/11/16

11:32

Post #: 20787596
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Originally posted by bigpelican ↑

Well said Woody and mrmattyman. I too would not be surprised to see the depth go well past 15m.

We should remember that unlike some other Lithium explorers who are faced with figuring out where to drill in completely virgin territory LRS are about to drill in areas where Lithium has actually been extracted from previously. Its not a case of a geologist gazing out at 76,700 hectares of wild terrain with a shovel in hand wondering where to dig...The announcement confirms the Vilisman and Ancasti tenements have a number of "well documented Lithium bearing pegmatites ". Further to that we will be able to drill actual historical mine sites that contained Lithium. The Vilisman group has at least 8 pegmatite deposits while the Ancasti group has less pegmatite deposits but ones wihich are relatively larger in width and length than the Vilisman deposits. We are certainly not short of decent targets.

My suspicion is that in time once the rest of the 76,700 hectares is scrutinised properly there is a good chance of more large deposits being located. We could be sitting on some as yet undiscovered seriously massive deposits.

We only need grades of circa 1.5%-2%. The non-JORC studies previously done together with recent surface samples seem to bode really well for the quality of grade of Lithium to be there. If the quantity is aslo there it is game on in a big way. That they are talking about combined estimates of spodumene content in 12 of the deposts being in excess of 120,000 t seems to bode extremely well that the quantity will likely also be there.

I think Chris Gale, Griffin and Co will absolutely not miss their target after all this preparation and its no surprise that they believe it is 'one of the most exciting exploration phases in its' history' . I don't believe they will faff around with the drill results and I don't think we will be waiting all that long.

As I write this the sell side looks to have thinned a bit...

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Its also worth noting its been 60 days since salta concessions were aquired. Ann on 22/9 said 60 days due dilligence. Ann soon?

LRS Price at posting: 1.3¢ Sentiment: Buy Disclosure: Held
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