It makes sense for NIS to re-assay their 140km of drill cores for Li. There are a few reasons for this:
- Li is a valuable commodity: The price of Li has increased significantly in recent years due to its use in batteries for electric vehicles and other electronic devices. As a result, there is a lot of interest in exploring for new Li deposits.
- The drill cores have already been assayed for Ni: This means that NIS has a good understanding of the geology of the area and the location of the Ni mineralization. This information can be used to guide the re-assay for Li.
- Re-assaying the drill cores is a relatively low-cost way to explore for Li: It is much cheaper to re-assay existing drill cores than to drill new holes.
NIS's decision to re-assay their drill cores for Li is a logical one given the current market conditions and the potential for Li mineralization in the area. If the re-assay results are positive, it could have a significant impact on the value of NIS's exploration project.
Here are some additional factors that NIS may have considered when making their decision:
- The geological setting of the area: The presence of other Li deposits in the area would make it more likely that Li could be found in NIS's drill cores.
- The grade of Ni mineralization: If the Ni mineralization is high-grade, it is more likely that Li could also be present in the cores.
- The cost of re-assaying the cores: The cost of re-assaying the cores will depend on the method used and the laboratory that is conducting the analysis.
Overall, NIS's decision to re-assay their drill cores for Li is a sensible one that could lead to the discovery of a valuable Li deposit, thus pushing the SP toward the $1 mark in no time.
