These drilling results are very encouraging. All ten of the...

These drilling results are very encouraging. All ten of the highlighted intercepts deliver both substantial thicknesses (43–83 m) and grades above or near industry “high-grade” thresholds, yielding metal-factors (thickness × grade) well in excess of the typical cut-off of 25 m·% Li₂O used for pegmatite deposits.

• Grade context:

  • Industry classifies “high-grade” spodumene pegmatites as those containing >1.5 % Li₂O; mineralisation between ~1.0–1.5 % Li₂O is considered “mid-grade” Q2 Mining.

  • A typical run-of-mine hard-rock ore averages 1–2 % Li₂O, so intercepts above ~1.5 % sit at the upper end of this range SGSCorp.

• Thickness and continuity:

  • All intercepts exceed 40 m thickness, with the thickest being 82.8 m at 1.35 % Li₂O in the Main Area—demonstrating the presence of laterally extensive, sub-horizontal pegmatite dykes.

  • Such widths are large for lithium pegmatites and bode well for both open-pit mining and downstream economics.

• Metal-Factor strength:

  • The product of thickness and grade (metal-factor) is a quick yardstick of economic potential. Here, every metal-factor is between ~76 and ~113 m·% Li₂O—well above the 25 m·% Li₂O threshold commonly used to define “significant” intercepts in lithium exploration Q2 Mining.

• Resource expansion potential:

  • Intercepts outside the current 2024 pit shell (South, Main, Inter, Moleon) confirm new, high-grade material that can materially expand the resource at depth and laterally.

  • In-pit conversion results continue to validate and potentially upgrade Inferred tonnes to Indicated/Measured within the existing pit, improving project confidence ahead of the 2025 resource update.

Bottom line: these results are very good—thick, continuous, high-grade intervals that exceed both grade and metal-factor benchmarks—strongly supporting both resource expansion and classification upgrades at Moblan.