Ann: Coarse spodumene intersected at Jaguar, page-72

If we take stock of the feedback released in today's announcement we can see that management firmly believe that they are only scratching the surface with the first 3 confirmed drill holes completed to date.

Note also that they have only drilled to a maximum of 161m depth on hole 2. Management are adapting very quickly to what's unfolding, no doubt following advice from their major shareholder LRS, who clearly understands the Brazilian landscape better than anyone.

Note also that LRS are finding a lot of their Lithium at depths of 230m to 350m.


Management have also clearly stated that they believe the pegmatites contain the possibility for a stacked system with multiple pegmatite bodies to be hosted within the tenement package. LRS have found this to be so with their drilling in Brazil, so no doubt SLM's tenements have a high probability of being similar.



So the first round of drilling is for 11 holes over 2500m.



2nd drill rig being bought in asap with the intention to increase drilling depth to 400m and extending drilling by another 5000m. So approximately another 13 holes.
A large shallow dipping pegmatite body measuring approximately 400m x 400m at the surface has been mapped approximately 1 kilometre to the north-west of the Jaguar pit and will be drill tested once additional drill capacity is mobilised to site. This pegmatite body exhibits classic mineralisation and textures associated with LCT- bearing systems. Spodumene bearing float has been found at surface in the vicinity of the outcrop with the source of the mineralisation yet to be located. The body has a similar dip and strike orientation to the Jaguar mineralisation which was intersected in the current programme and represents a potential repetition and hence the possibility for a stacked system with multiple pegmatite bodies to be hosted within the tenement package.


The most prospective potential host units for the mineralised pegmatites are similar to the suite hosting the Colina-Salinas pegmatites held by Latin Resources Limited (ASX: LRS) in the state of Minas Gerais. They consist predominantly of metavolcanic and metasedimentary rocks (schist, gneiss and quartzites) from the Serido Formation, located close to the large granitoids from the G3 suite with batholiths, stocks and dykes represented. The G3 suite is the main intrusive system in the province and potentially the source of any emplaced pegmatite bodies. The licence areas acquired have been systematically selected to be close to, or straddle, the contact zone between these granitic intrusives and surrounding metavolcanic sequences and the zone referred to as the “Goldilocks Zone” in exploration for LCT-bearing systems.