Grade ranges intervals are approximate based on reported spod...

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mistie

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14/06/23

13:26

Post #: 68280538
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Originally posted by calmbeforestorm ↑

Thanks for this - I extended the analysis and did a reconciliation to actual assay results (took me a few hours)
I have estimated the grade and thickness we may expect from holes 209 to 215 for the longer intervals. To arrive at my assumptions and approach I reconciled the grade and thickness for holes, 202, 206 and 208 quite well by excluding bookend intervals of 0% spodumene and bookend intervals of 3-5% spodumene (see results below).
I had to use the largest number in the % spodumene range to reconcile the grade closely e.g. used 20% when the range was 15% to 20%. I used the 8% Li2O assumption for spodumene lithium content.

My estimates reconcile quite closely, which surprised me, as follows:
Hole 202 – 11.2m @ 1.79%; my estimate 8.9m @1.86%; and actual results 38m @0.97%; my estimate 29.3m @1.04%
Hole 206 – 54.4m @1.07%; my estimate 54.5m @1.03%
Hole 208 – 52.1m @0.91%; my estimate 53m @0.88% and actual results 105m @1.26%; my estimate 106m @1.17%
The smaller intervals in holes 205, etc did not reconcile very well.

Using the same assumptions and approach for holes 209 to 215 I achieved the following estimated results:
Hole 209 – 42.6m @0.73% and 25m @0.98% (total thickness from hole is 67.7m)
Hole 210 – 52.6m @1.23% and 62.5m @0.98% (total thickness from hole is 115.1m)
Hole 211 - 67m @0.37% (if you look at the table in the clarification announcement you will notice very low % spodumene eg 36m @3% to 5%)
Hole 214 – 90.1m @1.13%
Hole 215 – 20m @1.20% and 104.5m @1.09% (total thickness from hole is 124.5m)
Your grade estimates are too high. For example, no way will 3% to 5% spodumene results in LiO2 of 0.5% to 1% - it's more like 0.25% to 0.4% LI2O assuming spodumene contains a maximum 8% Li2O which is the theoretical maximum

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Grade ranges intervals are approximate based on reported spod visual % and actual assay intervals returned for drill holes ANDD0202 to 208 only.

In the case of the 3 – 5% vis spod estimate, the grade range is higher as it is skewed higher by drill hole ANDD205. Variables are the eye of the holder, being the individual loggers.

Let’s hope for more 1.4% intervals at 3 -5% spod estimates:

Time will tell, everything is a guestimate until actual assay intervals are released

Still looking forward to drill hole ANDD0215 (105m @ 1.25 – 1.50% or your 104.5m @ 1.09% Li2O) as anticipated, then spod oresome !!!!!

Watch this space … Bye …

……………………………………………………………………………………………….……
Sometimes the questions are complicated and the answers are simple.
~ Dr Seuss

AZS Price at posting: 89.0¢ Sentiment: Hold Disclosure: Held
15 Upvote

0 Great analysis

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