So after a number of crazy trading days, this is what I think is known, speculated and still unknown.
Lithium and Mineralisation Mineralisation is confirmed as Spodumene through UV Light and RAMAN Spectroscopy (30 Oct announcement) All intercepts less than 26m down hole have been reported as very weathered Partly weathered intercepts reported across 26-31m down-hole and the edges of TGRC0006 (30-31m & 38-39m) Excluding weathered samples and the edges of pegmatites that were under 0.50%, there were 24 samples at an average of 1.46% From the speeding ticket, the mineralised samples appear to have been prioritised. Normal priority samples are still four weeks away Conclusion - On the samples to date, there's a robust grade up to 2.28% but not much if anything useful in the top 30m
Size of the Spod crystals (and it really needs DD) TG6 hasn't provided any commentary on this and without DD nothing was expected. Highly speculative - Some of the rock chips fluorescing in the rock chip trays look to be in the typical DMS range (3mm to 10mm). They are definitely larger than the bottom of the DMS range. DMS could possibly be part of any future flow sheet reducing volumes needing to go through flotation.
Confirmed dimensions Unfortunately none yet - the current two strings of drill holes are 200m apart which is above typical inferred distances The current drill holes were 100m apart. The northern string (9,10,11) hit two depth intersections and one weathered intersection. The southern string hit two nearer surface intersections. If there is a lower seam 90-100m below the upper seam, the southern string drill depths weren't deep enough to hit it. RC09 is going to be extended by a 30-40m RC tail. This should add a 3rd intercept to the northern lower string. A 200m by 200m by 10m peg is 1.08Mt (at a typical 2.7 density).
Slope Presumed to be gently sloping rather than steeply sloping. The absence of a significant surface outcropping expression from which to take rock chips is consistent with a flat to gently sloping pegmatite structure. TG6 have however got the other nearby nickel drilling results which gives them a better idea about the regional geology and will have influenced why they are calling it flat lying. Two nearby known gently sloping pegmatite systems are the large Mt Marion and Mt Holland (189Mt @ 1.53%) resources.
Implied dimensions The NE/SW soil anomaly is 4.7km although "only" 2.2km of that is one more solid block. The mapped east-west anomaly is about 1.7km. There's an eastern anomaly that may expand this distance with results due 10 Nov. About 3km to the west is a Granite Craton structure that extends over 50km to the west through to the next greenstone structure which contains Mt Holland. If there was a perfectly rectangular 2km by 1km by 10m flat lying pegmatite it would be about 54Mt. If the overall dimensions are even larger, then its even bigger and correspondingly smaller dimensions like 1km by 500m by 10m would be 13.5Mt. Drilling is required to know if mineralisation extends over this wide area. The lithium in soils needs to have come from somewhere.
Phase 2 Drilling 4,000m over 13 holes is an average of 308m per hole, but it may not be allocated evenly. The DD tail to RC09 should be quick and should provide an ability to provide a DD core sample Speculation - If there is a 2nd lower pegmatite 90-100m lower, its likely that RC06, RC07 and RC08 will also be extended, possibly also with DD tails. 9 of the drill holes are in a 1.2m long strike length and down-dip length around 700-750m. 4 drill holes test the structure further to the north with 2.6km between the northern and southern planned hole. There estimating 3 weeks for drilling 4000m so perhaps 200m/day. There could be a pegmatite width plus UV light update before assay results.
TG6 Price at posting:
$1.10 Sentiment: Buy Disclosure: Held
(20min delay)