Go back to the announcement dated 18 November 2016 with the title
"SIGNIFICANT PEGMATITE DRILL CORE LOCATED
MT EDWARDS LITHIUM PROJECT"
Pegmatites in modern geology have been classified into different categories from as early as 1959. From my brief research they are currently categorized according to a scheme invented by a guy named Černy in 1991. You can read about the scheme of clasification here.
Cerny idenified four classes of granitic pegmatite (Abyssal, Muscovite, Rare-Element, Miarolitic).
The pegmatites that have any "significance" to lithium exploration fall in the Rare-Element Class of pegmatites which are further subdivided into two families (LCT and NYF), 5 types and 8 sub-types which are shown in the table below.
What is the word "significant" meant to imply in the title to the announcement. Does it relate to the length of intersection or type of pegmatite. What the announcement says is
"Several significant pegmatite drill core intersections, some in excess of 60m wide, were identified and logged in the St Ives core yard, Kambalda WA
Drill core was from historic diamond drilling in areas where no obvious pegmatite outcrops are present and could potentially represent blind "feeder" pegmatite occurrences"
The statement seems to imply the pegmatites are significant due to their width and for their potential to represent blind "feeder" occurrences which is not very specific as they don't even venture to directly discuss what type of pegmatites they might be.
As an investor with limited knowledge of what a feeder occurrence actually is, one could have looked at NMT's case/announcement (from August 2016) where they use the same terminology and start believing that it's something that might be associated with significant economic levels of lithium mineralisation.
"At Area 2 West RC drilling further defined the bounds of the deep, sub vertical pegmatite ‘feeder’ previously reported in the March ASX Quarterly. This unit is a 40 to 80 metre (horizontal width) spodumene bearing pegmatite with a continuous vertical thickness up to 370 metres (e.g. MMRC0415: Pegmatite from 149‐519 metres), and a strike length of up to 350 metres (SSW‐NNE). The unit remains open at depth to the north."
Now that we have the results can anyone actually tell us what type of pegmatite this is? what category it falls into? and if the use of the word significant, in retrospect, was really warranted? or why this pegmatite should still be considered significant now?
Also the word lithium bearing was never used in relation to the cores in the main text of the announcement but in the Geology section of the JORC Appendix in the 18 November 2016 (core announcement) they went as far as to say.
Page 13, 18 November 2016 (pegmatite core announcement)
Page 9, 3 February 2017 (core assay result announcement)
It's worth noting that in Friday's announcement all previous references to spodumene and accessory lepidolite have been deleted.....hmmmm Esh
ESR Price at posting:
4.7¢ Sentiment: Hold Disclosure: Held
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