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14/07/16
07:38
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Originally posted by Ubique13
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Thanks for that, Boy1.
Disappointing that the initial target may not be met from the first round of drilling, but far out think about it, a JORC of that size resource would put us on par with GXY's Mt Cattlin, NMT's Mt Marion and AJM's Pilgangoora project - all front running lithium companies on the ASX with > 200M market caps and grades in the low 1% range - grade is king.
I think that the main load (assuming that vertical depth of 200m is achieved) will be higher than 10Mt.
900m strike (length upgraded from current drilling) x 30m width x 140m depth x 2.9 SG = ~11Mt. Plus they will have the western extensions and other outcrops which will only add to this.
Very excited for the assay results from these "clearly visible crowded spodumene" drill chips!
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Interesting with the bonus extra width in the early holes - a say 900 by 40m X 140 X 2.9 SG= (I'm useless at the calculations but we must be close to the exploration target on the main zone of 15Mt?