Nice to get an update on the 2001 tenement drilling program. One...

Nice to get an update on the 2001 tenement drilling program.

One highlight of this announcement to me was the approx. 60m wide intercepted pegmatite at Section D. With 4 of these drills EOH there are two burning questions. How deep does this pegmatite continue underground and is there Lithium mineralisation present? Drill samples have been sent to the lab so should expect assay results in 4 - 6 weeks. If there is lithium present at a viable % then this site will undoubtedly become a priority target for Reverse Circulation (RC) or Diamond Drilling (DD) once the current phase of Aircore Drilling (AC) has been completed. It is fantastic to see a pegmatite hit on the first pass over of this section of tenement 2001 which solidifies the companies methodical approach. These pegmatites have no outcropping (i.e. they would not have been found without the thorough soil and rock chip sampling/prep work). None of this guarantees success in terms of lithium mineralisation but it is giving the best chance for early success.



Further to note is that the lab results we do receive for this pegmatite could downplay the overall lithium quality due to the degree of weathering. As the pegmatite is weathered, mineralisation will leach from the rock. It is fair to assume that on the next round of drilling (if lithium mineralisation is present), that as the drills go deeper and the pegmatite is less weathered we could be given a truer estimate of lithium values. I understand this is very much putting the cart before the horse but based on soil/rock chip sampling showing Lithium content and the known geology of the region in terms of LTR/ESS/LRV would we really be the only art of the Dundas region to intercept non lithium bearing pegmatites? Time will tell.



In the North of Tenement 2001 Reverse Circulation Drilling has been completed and samples sent to the lab. We should expect to see results within 4 weeks. With 237 samples sent off anticipation on results is high.

There is still plenty of work to be done and value to be proven for Lightning and from what I have seen Alex Biggs as CEO has delivered on timelines and always seems to have the next stage of progress ready to roll out. Take LRV for example, they announced AC drill results in April and have just announced that RC drilling is planned. This is not to put down LRV especially since as a neighbour if they find success we likely will as well. This is simply to highlight the the current path L1M is on is working and there are no pauses between stages. Soil samples, rock chip samples, approvals, analysis of results, AC drilling all stages completed and progressing without interruption.

* RC samples pending assays for northern section
* AC samples pending assays for southern section
* 75% AC drilling still underway
* Preparation for soil sampling in tenements 2000 and 1993
* Approvals for Dundas North being sought

This is a very young explorer with a lot to prove. Lets hope this is the first chapter in a trilogy!

GLTAH