You might also question the lithium grades, being sub-1%. But we must remember these are rock chip samples. The magma fluids somehow made it to surface and, generally, got weathered over time. So, reviewing today's announcement, PM1 announced: a 5.0km x 1.0km lithium and tantalum soil anomaly, with results up to 0.045% Li2O and 20.9 ppm Ta2O5 (MSS0053)
Indeed that doesn't scream buy. But we're looking at rockchip samples. If you look at SEG's 12 April announcement (prior to drilling), the programme delineated a 1.3km x 1.0km lithium and tantalum anomaly, with soil samples up to 0.8% Li2O. In addition to the soil sampling, a further 64 rock chips have been received with assay results including 0.65% Li2O and 554ppm Ta2O5.
Comparing the two camps, PM1 found a far bigger anomaly than SEG. But SEGs anomaly was more defined. But it picked up some 1,500+ samples to get an understanding of its ground. PM1 picked up less than 200 samples. It's now going to 'zone in' on the areas with the greatest samples, picking up more rocks to define drilling targets.
SEG's rock chip samples weren't hitting it out of the park. But they drilled 1%+ lithium. And are now capped at close to $9 mil, with more assay results remaining. It's very early days for SEG. But they are getting decent thickness and grades, and most importantly hitting pegmatites. Lots of companies don't hit even the right type of soil.
SEG is probably 2-3 steps ahead of PM1. So, if they make a major discovery, guess who will benefit on nearology?
Mind you, this is the lithium story. The Mn potential offers massive rewards for punters. That game is just about to begin.
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