Good pick up of the 475m as the reported depth for the mineral resource. Plus the 1:1 strip ratio.
The following are observations from today's results which came as a pleasant surprise on the upside of my and possibly other people's predictions
Not many (none that I noticed) had picked this first resource much over 120-150Mt total from this few holes so 259Mt total at 1.63% came as a surprise to me. Some more obvious possibilities for this:
Tonnage - factors for higher tons.
Depth 50-~100% more than expected by most.
The 475m depth is 50-100% deeper than some used for calculations but makes sense given the geometry and homogeneity and support from hole #30 where the FW is 479m down hole (albeit because of some unusual thickening/structure/new pegmatite).
Strike +20%.
Another increase was the use of 980m of strike length which is some 20+% greater than some were using. It probably means 6570 - 7550N with an allowance of say 30m to the SW where the pegmatite may be pinching out and full half distance between line spacing 7500-7600N.
Thickness variable and locally complex. 2.73 SG vs 2.8 many used.
Grade
Very good to see 1.63%.
Accurate calculations made by AVZ which seem a tad high from assay results IMO (pure gut feeling so probably shouldn't even post it but will).
The main reasons are few grades 1.7%+ to counteract the 1.5% or less plus an apparent vector to decreased in LiO2 grade on certain sections.
This decrease (lowest 0.88% over 170m core length in Hole 26 on line 7300N) is generally only down to the reported grade of most other mines (except Greenbushes/Mt Holland and a few others).
These sections show where these comments come from but only give qualitative impressions rather than quantitative results. AVZ's 1.63% is the resource grade.
This plan summarises some of the grade trends.
This PDF finalises several months following this year's drilling with mostly up to date personal sections and results of predictive work done before phase 1 assays were reported. Some discrepancies and errors are mine. Others come from AVZ and minor changes in details between announcements - check and DYOR.
Can't say I like what happened to the SP today with such a large high grade resource being announced. However, having watched the market do similar things with the highly anticipated and relatively predictable assays (T54's post) for 2017 Holes 1 and 7 around this time last year not too unexpected.
A solid base is there now and will be added to with the remainder of Phase 1 and the next 20Km of drilling.
GLTAH.
