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eastwest101

4,894 Posts.

3909

28/08/23

19:07

Post #: 69596713
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Originally posted by Mr. Metorite: ↑

I did a block model with the down hole assays and drilling done so far on AP-0011 and AP-0012 and got 33.8M tonnes averaging 1.05% Li₂O. So, that would likely result in around 4M tonnes of spodumene concentrate, which in a couple of years will likely be worth around $2000 per tonne, or 8 billion dollars. No one expects the current price of $3265 per tonne to hold, and Goldman Sachs says it will be $1800 per tonne next year. The best mineralisation on AP-0011 and 12 is deep however, and at a likely strip of around 23 to 1, it could cost 8 billion dollars to mine and process it. So far, the drilling on AP-0011 and 12 is on 100m spaced lines, and only an inferred resource is possible until there is a lot more drilling. It is risky to interpolate drill results between holes spaced on 100m lines, but my model searched out to 60m from each hole, which is a lot. Hopefully, additional mineralisation with decent grade that is close to the surface will be found on the other targets at Andover otherwise the SP of AZS will not fare well. Remember, the 100M tonnes of mineralisation that is bandied about is the target only. Wireframe numbers that have been posted are of the pegmatite body, not ore-grade mineralised pegmatite. Below is long section of the block model that I made.

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Question 1: Um - just wondering why that Resource Block long section has eastings on the right hand side but northings on the left hand side?

Question 2: What was your Search Neighborhood?

Question 3: How did you come to select the Inverse Distance Weighted power function of 3? This is extremely conservative and nukes/zero's out any potential of any tonnage away from existing drill intersections. Do you think that's realistic, geologically?

Also - which program did you use to create this block model? Was it by chance Leapfrog, out of the box with default settings? GIGO.....

AZS Price at posting: $2.53 Sentiment: Hold Disclosure: Held
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