Even if intercepts are rather deep it usually doesn't bother...

First 130 Last

Share
Profile

Follow
seaemay

7,212 Posts.

1073

20/04/24

09:42

Post #: 73436039
Share

Originally posted by triage: ↑

Not much mention that I could see on these threads about the depth of that big hit.

From the 11 April ASX announcement: "DrillholeAD-24-170 intersected 61.5m at 1.62% Li2O from 306m downhole, including 24.0m at 2.82% Li2O from306m, and 9.8m at 1.27% Li2O from 385.5m downhole".

That's very deep to be thought of as a commercially viable deposit. Much deeper than the hit Azimut reported just to the immediate south of Adina's main zone: 2.48% Li2O over 72.7 m (from 139.5 m to 212.2 m).

It reminds me of a point Ken Brinsden makes: finding lithium is relatively easy, but finding commercially viable lithium is much, much harder. AD-24-170 is further evidence that there are (underground) mountains of spodumene along the Trieste Formation, which is great. Winsome has already uncovered lots of near-surface spodumene at main zone and the footwall zone which look to be commercially viable, which is even greater. But like every mining explorer they will win some and lose some. By itself this drill results appears to me to be a loss for the time being: there is enough near-surface spodumene in Quebec for investment funds not to need to flow into underground operations.

Expand

Even if intercepts are rather deep it usually doesn't bother punters too much. They just get excited by wide high grade hits and don't bother themselves with depth. As such, if we can delineate a new zone with a string of hits like Hole 170 or even better it'll definitely have a positive effect on the SP.

WR1 Price at posting: $1.25 Sentiment: Hold Disclosure: Held
5 Upvote

0 Great analysis

Reply