Really great points. No rock chips were taken, only notes on outcrops with no mention of spodumene or pyroxenes. But nearly all the data was taken from 2012.
Here's the tenement claims overlaid on satellite with marked outcrop locations (red stars).
When you examine the outcrop data recording in Quebec's Ministry of Energy and Natural Resources for the outcrop data within these claims you will find nearly all the data is from 2012. Spodumene was likely not at the forefront of the minds of people exploring these claims however I would expect to see at least some notation of pyroxene [spodumene is a pyroxene].
It is typical of the outcrop notes to contain only references to a quartz-biotite-muscovite pegmatite. The fact that they are observing white and pink coloured pegmatites likely suggests the presence of feldspars as well which would be highly typical of a pegmatite. There are no claims of pyroxene or spodumene in the records.
Further what evidence has been presented to determine and support the
interpretation below?
"Is it possible,that the current owner is an experienced geologist with 22 yrs experience and is going to be paid in shares ( small amount of cash) and a position on the board,that he is very confident at what he has seen and is looking at getting the support required to move this forward"
I very strongly disagree with this statement. If I owned these claims and had noted visual spodumene in the pegmatites I would not be going to a $10million microcap on the ASX to make a deal when the neighbour is valued at $1billion CAD. With 48.375million shares on issue if I knew I was sitting on a spodumene pegmatite claim where the neighbour is valued at $1billion CAD, I would be asking to retain more than a collective 11.3% exposure to the project via an ASX microcap [5.5million shares divided amongst Mr Leo Horn, Mr Ariel King and Mr Trent Potts].
Using an analogy, if I had a car [tenement claim] I wanted to sell during a period of high demand for 2nd-hand vehicles [lithium bull run], I am certainly not going to tell you about its lack of features [spodumene] to try push the deal across the line am I? Cynicism is always required at this end of the market.
yeah I hear what you are saying SOG
If Leo was 100% certain it was full of spod then yeah why go to a 10 mil cap ASX company but if that was the case even PMT wouldn’t be interested either as they are all consumed in the early stages of their project so I would try any way to get the ball rolling ASSP
It’s a risk but that is why we are at this now 19 mil MC
BUT the risk to reward on this Co means for me that I am all in and stoked to be in at 22cents
