Ann: Lady Grey Lithium Project Site Visit, page-148

You clearly don't understand the announcement. Yes, it has a new sampling of soils over the entire tenement which is great news but it clearly states that they have a drill program already which will go ahead after heritage clearance. It does not say that drilling is subject to soil testing at all which is your own little down ramp for the day. We have no idea when these heritage approvals will clear so maybe we will have some soils results in to help with some of the drilling.

The opportunity here is that they already have have some potassium and some radiological anomalies. These are typical lithium indicators. They have sediment cover over these anomalies so they can't be tested properly without a drill. Soils may give sniffs of indications also, but its the drills that will do the job properly. If I'm reading this correctly, they have air core drills to get to the bottom of the sedimentary layer which IMO isn't particularly deep to get a much better indication of Lithium potential in the underlying greenstone belt. LNR's tenement is well and trully in the goldilocks zone for lithium mineralisation. The RC drilling will penetrate into the basement rocks which potentially have Lithium mineralisation.

I've been observing many companies in these goldilocks zones nearby for lithium mineralogy and the vast majority are separated by many kms, some times 10's. They all say nearology in similar geology makes for these goldilocks zones. None have something so adjacent as LNR, only 400m away from one of Australia's biggest Lithium mines. I'm not saying the exact same ore body extends straight over onto LNR's side. That is a little unlikely knowing how much work had gone into this working mine but there are 5 things which make the LNR opportunity interesting.

1 Sometimes there are parallel structures especially in the same general geology.
2 No one has been able to properly test the basement rocks because of the sediment cover.
3 They already have indicators for potential lithium mineralisation especially the K anomalies.
4 If they find Lithium mineralisation, very high probability it will be Spodumene mineralisation which is exactly what all hard rock Lithium companies want. This where nearology to the mine maybe proved to be priceless also.
4 LNR market cap is very low.