Ann: High Grade Lithium Hits Continue at Lake Johnston, page-66

There's some clarity on the east-west direction of pegmatites, but the north-south sloping direction is confusing.

Positive's:

• There's confirmed mineralisation along a 1.4km length.
• There's more instances of very high grade intercepts.
• The new best intercept of 19m at 1.52% is a strong drill hole.
• The east-west slope is confirmed as flat-lying (at least where RC09-RC11 were drilled).
• With an amended PoW TG6 can drill around this 19m intercept and see where it goes on a small step-out plan.
• There's more stacked pegmatites to the system.

Negative's:

• The north-south slope situation is confusing. If it was also fairly flat, holes 14 and 18 would have hit a southern extension of the lower pegmatite hit by RC09-RC11. There wasn't a lower pegmatite reported for holes 14 and 18.
• Many of the current intercepts remain thin.
• Many of the intercepts are at a depth that requires robust intercept lengths to be economic.
• Holes 19, 20 and 21 to the south were NSI's.
• The DD core pictures haven't been presented yet.
• TGRC0016 was a duster so the SIF/Ultramafic NW/SE zone may act as a barrier to continued mineralisation.
• Figuring out the system may take time because a 200m deep fresh rock intercept would not appear to be the cause of a soil anomaly.

Clearly at this early stage the market is focusing on the negatives.