Ann: Investor Presentation, page-290

Hole 007 already passed spodumene mineralisation. If they're still going, it's cus unmineralised peg continues and they're hoping to see what lies beyond the bottom edge. In the prototypical deposit, Li2O tends to collect in the middle of pegs because it is a light metal with low melting point, which is different to heavier metal deposits with higher melting points. Still, it would be useful to know where the peg meets country rock to define the situation properly.

See bottom right:



Nevertheless, 007 (the Bond hole), was the moment of revaluation, despite it not being finished or released properly. It showed that 005 was less likely to be a down dip fluke (it still is to a degree, but the mineralised area is large if continuous).

wbn shared this list of recent drill results which included an average which is not useful IMO. As unique data points we need a median and quartiles.


The 'market' is valuing earlier stage deposits of 10Mt @ 1% at around 200-300M. Obviously there are many other factors, especially depth and metallurgy.

the top 10% or 90th percentile is in a different league altogether.

Up until Jamar WR1 was already in the first quartile of drill results, thanks to extraordinary grade. With holes 005 and 007 it has climbed to the 90th percentile and entered the ranks of the exceptional, should assays show anything above 0.9% Li2O over the visual spod intersections.