Ann: Lyons REE Project Maidel Drill Program Update, page-59

Since the 11th there is only one drill site interpreted by the 13th (magenta spot below).



Given the rate of drilling, lack of new access or site preparation it is likely this second phase of drilling has been completed. Unlikely to move to Edmunds as no obvious sites were prepared by the 11th.
Always the possibility of a gap between drilling phases as there was earlier.

Summary of interpreted drilling (give or take for number of holes)

• Area 1 - 12 holes that tested the extent of rock chip sampling on Lyon 11.
• Area1a - 3 holes drilled on possible geology/structural targets but very limited Th anomalism.
• Area2 - 28 holes that tested the extent of rock chip sampling on Lyon 12/13?
• Area 3 - 8 holes testing Lyon 3 and 27 (rock chips) and other geophysical/?geological anomalies
• Area 4 - tests of Th anomalism Lyon 13?
• "Area 5" is a single hole in an odd location. Perhaps a vertical hole to test the possible carbonatite intrusives defined from magnetic interpretation. RC rigs can reach 500+-m if they have air pressure boosters though such a deep test would IMO be unlikely here 2-300m is possible and could be a precollar for a planned EIS diamond hole.

Total estimate of 54 holes.
Results from areas 1/1a in 4-8weeks with the rest towards Christmas or early '23. Who knows when given the pipelines of samples at labs these days.

HAS and DRE results from drilling iron stones suggest LNR will intersect something.
However, patience is needed for any confirmation in the absence of assays. Visuals perhaps but probably won't put out XRF.

Expectations? As posted before I would hope to get at least some results along the lines of Fraser's/Simon's area on HAS ground. Relatively shallow dipping ironstones in the sub 10m (probably sub 5m) range with ok grades.


Range of ironstone thickness at HAS 0-~24m.

Patience...