Woooo bringing the heat this is what we have been waiting for big tonnage target about 20m thick and high grade, Calderwood many of us asked for this recently and you have delivered magic.
Peg 3 west is really exciting as it looks like it's going to sit quite flat perfect for mining it's all contained within a consistent zone.
View attachment 1549822What very exciting is it's all open not only heading up towards surface to the north, but also open down plunge to the south, so the 17 to 24Mt target is an initial target, which is open potentially for an entirely new open pit discovery to the north.
Now looking at pegmatite 3 west target big question is it an open pit target or an underground target?
Looking at it, I think depth wise 140m-220m deep, KDR/AJM their resource run to 450m and 300m deep, even the current hot thing LTR their recent results that set them alight were 250m deep, so from that perspective these strikes aren't that deep in terms of lithium resources.
But reality is there is quite a gap between Peg 1 & 2 and 3 it can be pitted, but gonna be alot of waste of an no peg to do it, I think considered how nicely it's sitting underground would probably be better option.
Now can A40 afford underground mining as it's much more expensive than open pit? simple answer hell yes we can.
We are currently mining on a 15:1 strip ratio which is very expensive and not only that out current material grade is 0.89% Li, much lower than the exploration target.
View attachment 1549831If we are making money at 15.5 to 1 strip with 0.89% material can we mine underground 1.25-1.4% lithium, absolutely.
So it's consistent it's mineable it's profitable it's high grade, with upside to possibly a high grade open pit to the north, beautiful announcement beautiful day for A40 share price can do what it wants, today the sun is shining brightly on us, we will get there we will be a monster.
