Ann: World-Class Lithium Intersections Continue at Andover, page-55

For the most part I agree with your numbers on TA1. They re-entered and extended some of the first holes like ANDD0204. A mix of infill and down-dip extension holes from current results. Extending AP11 700m down-dip from outcrop at the deepest intersections.

6Mt at TA2 seems ambitious seeing as they've gone back and re-drilled it in the latest results. The green rods are NSI intervals. No doubt that there is pegmatite running between those drillholes but significantly lacking in spodumene mineralisation. More than likely will be included in MRE numbers (<5Mt) but may never be economically recovered. TA2 all but a right-off.




I think most have speculated on the potential of TA3 and given a few circumstances, I could see TA1 being 80-100Mt on its own.
I georeferenced the most recent satellite imagery as of today to determine the extent of drilling that has occurred at TA1 to inform the total length of extrapolation. The model below (yellow polygon) is extrapolated to the current deepest intersection of TA1 which is pegmatite interval 256.8-306.7m of ANDD0322 (approximately 600m down-dip from outcrop but only ~260m below the surface), and then to the full extent of the drilling area. Western block is offset by the fault to align with AP02 surface outcrop. I would say its likely we see 45-55Mt of resource potential from AP04 given new results but that could extend anywhere to 60-80Mt depending on how far they choose to drill down-dip. However, quite extreme extrapolation based off nothing but a few intercepts and some surface drillpads and these results won't be in til next year.





I would imagine with 8 rigs running through 2024, I would find it hard to believe that the upper guidance of the Exploration Target won't be met by Q2 2024. That is, if that data ever gets disclosed. But I have no doubt it is now a Top 4 resource in WA.