Ann: Central Aubry Drilling Set To Commence, page-11

Hi Koala,
Welcome over from the CXO thread and choosing to post on existing threads.

The timeline below appeared in the presentation pack of 10 November 2021. I would however note that the price of Spod has increased a lot since even October when the pack would have been prepared. This rapidly increasing Spod price is reducing the resource size needed to economically make a decision to commence mining. Further, I suspect every explorer with a JORC lithium resource has been contacted around when they expect to be in production. Like GT1 was agile in its drilling programme and drill hole order, I suspect they may also be agile around the timeline below. This may result a compressed timeline on executing North Aubry. Conceptually it could be a fairly simple start-up as ore bearing lithium starts near the surface and excellent recovery results have been achieved with DMS processes.



When you look at the one published drill result, it compares favourably to BP33:

• Its a near true width drill result at 40m, while Core's true width was 30-35m.
• Its grade is high at 1.54% (although slighly lower than BP33's).
• Its closer to the surface starting at 244m downhole (Core's was 357m and 362m downhole).
• North Aubry is likely to be open pit. BP33 is planned to be underground mining so lower cost, higher ore recovery.
• The width is gently sloping if not nearly flat (1). Core's was steeply sloping (hence not be able to drill at right angles to it).
• The sub-zone of 5m @ 2.75% is higher than BP33's 11.51m @ 2.37%.
• The existing resource its part of is larger 3.8Mt @ 1.38% vs BP33's 3.24Mt @ 1.51%.
• Earlier tests had DMS recovery of over 80% and heavy liquid separation at 91.6% (Core's DMS ave is 71.7%)
• The existing JORC resource for North Aubry extends from close to the surface.

(1) two of the extension drill holes are almost vertical. Given the intention to it the target at right angles for a true-width measure, North Aubry may have transitioned from gently sloping to flat.