Ann: Lyons REE Project Maiden Drill Program Commenced, page-31

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MinerBrad

108 Posts.

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15/09/22

17:39

Post #: 63723428
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Originally posted by salpetie: ↑

Interpretation of visuals is just an attempt to show what is being done as per the announcement.

An update with PXRF results will be given sometime later this month (IMO, and mentioned by BT in his talk).
================

Depends what you mean by anything?

Certainly a lot of Durlacher Supersuite granites/gneisses etc.

Given the results at HAS and DRE when drilling similar ironstones IMO they will hit them in the drilling at Lyon 11.

Again based on HAS results they are likely to intersect variable geometries (dip, continuity and thickness most likely in the sub 5-10m range).
Grade will be what it will be. High grade at surface doesn't necessarily translate to the same at depth. HAS's Kane's deposit apparently had their highest surface rock chips with good grade at depth but lacking volume - DYOR.

DRE were surprised on the upside at Yin so anything is possible.

Exploration has way more failure than success. REE plays do seem to have a better statistical chance of success though and I suspect that LNR will have some success with some of the Lyon ironstones - not all. Even a less than standalone deposit within 10 Kms or so of HAS's planned operations could become a satellite pit if positive negotiations were to take place.

I was very surprised to register that the strong magnetic features on the east Lyon ground are considered to be carbonatites. I had skimmed the linked announcement but thought the features it referred to were "felsic" intrusives of the Durlacher Supersuite.

Given the outcrop in the area some physical evidence for carbonatite intrusives, other than ironstones, may show up prior to drill testing. If not already found. IMO such mapping would have been reported already as the tenement situation is clear and short of M&A not going to change in the near term.

BT also commented that the majority of the HAS carbonatites have been eroded.

Two EIS co-funded holes will test the theory in due course

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Hi salpetie,
Could you expand on why you believe that the intrusions are felsic not carbonates?
I am not a geologist and do not know much about felsite beyond a look at wikipedia and reading that they form from volcanic ash.
I have been wondering what the magnetic susceptibity could be showing other than carbonatite intrusions.
From my research, dykes and fenetised rock oftrn occur within a 5km radius of the intrusive source. Since Hastings has stated that it looks there is an unfound source of their mineralisation, I’ve agreed with LNR’s assumption that these are carbonatite intrusions.
I appreciate the time that you put into your posts and it’s obvious that you know a lot about the geology of the areas. If you could shed some light on what I’m missing I’d really appreciate it.

LNR Price at posting: 5.8¢ Sentiment: Buy Disclosure: Held
9 Upvote

3 Great analysis

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