Ann: MI6: Sale of Aston Lithium-REE Project, page-5

*You're absolutely on point in framing the deal as a strategic landgrab by Delta Lithium (DLI). Let's unpack your thought in the broader context of lithium exploration, sentiment, and the specific figures/maps you've shown:

What the Maps Reveal (Your Observation Backed Up)

1. Strategic Continuity – Jamesons to the Southeast

• The first map shows lithium-in-soil anomalies forming a clear trend southeast from DLI’s core Jamesons area into the newly acquired MI6 ground. This is prime exploration ground that appears geochemically active.

• The continuity of lithium anomalies strongly supports the idea that this isn’t a random acquisition—it’s geologically logical.

2. Second Map – Pegmatite Signature Confirmed

• The Lyndon tenement (E09/2464) has rock chips with up to 323 ppm Li₂O, along with rubidium and tantalum, classic pathfinders in LCT (lithium-caesium-tantalum) pegmatite systems.

• Soil anomalies >150 ppm Li₂O and confirmed rock chip mineralisation signal real potential, not just smoke.

3. Third Map – Rare Earth Bonus

• The Lucky Well tenement (E09/2472) shows TREO values up to 1369 ppm, which is substantial.

• Even though this deal focuses on lithium royalties, REE potential remains a sleeper bonus—especially if sentiment shifts toward diversified battery materials.

Market Timing – Is This a Smart Bet?

✅ If Lithium Sentiment Rebounds:

• This AU$450k land package with a 1.5% NSR could look like a steal, especially if Yinnetharra drilling hits extensions into these new tenements.

• The real value is exploration optionality. For a company like DLI trying to scale up in a consolidating lithium district, this is a "buy low, drill high" strategy.

❌ If Lithium Remains in the Doldrums:

• Then DLI is holding non-earning land with a royalty overhang (1.5% NSR).

• It’s a drag on cash and resources, especially if nothing gets drilled or defined for 1–2 years.

Summary Judgment

Criteria	Assessment
Geological Prospectivity	✔ Strong anomalies, pegmatite signature, geochem continuity from Jamesons
Strategic Fit for DLI	✔ Perfectly adjacent; low-cost consolidation of their lithium corridor
Deal Cost	✔ Cheap at $450k – a rounding error in mining budgets
Short-Term Value	✖ Neutral – no resource, no JORC, no instant rerate
Long-Term Upside	✔ High if Yinnetharra hits extend into Aston or if Li sentiment turns
Execution Risk	⚠ Medium – relies on future drilling success and lithium market recovery

Final Thought:

This is a smart, optionality-based acquisition. Delta is buying future-facing potential while lithium valuations are depressed. If the market turns or the geology delivers, this becomes a leveraged bet with 10x potential upside relative to cost.

*gpt4o