Hi @q1w2 ''passing the parcel ofpotential'' . . . could well be...

Hi @q1w2

''passing the parcel ofpotential'' . . . could well be just that.

To agree to this transaction Shareholders are offered the justification of . . .
"an ability to potentially deliver a Mineral Resource Estimate at the Phoenix Lithium Project, and a potential pathway to production."

Indeed at the Phoenix Project, holes have been drilled and spod assays reported.

The Announcement lists in Annexure C, 7 drill holes, and many channel and rock chip assays taken at the Phoenix project. All of these were the work of North Arrow Minerals (TSXV: NAR) in 2008/2009.
Most of these assays and have been plotted on the map above. (Orange: drill hole or channel, Blue : rock chip).

The map above shows the locations of the reported assays are widely spread (over an area 17x14km).
As of late October 2023 the Holders were a mixed bunch that included "Clean Commodities", DGs predecessor.
North Arrow is not among them.

The Jorc Section 2 "Reporting of Exploration Results" refers to ... ownership ... third parties . . . native title interests.
OM1 did not respond on these matters.

The History of North Arrow Press Releases is long. Three items are of particular interest :

1) September 22, 2009 : "Phoenix project area is 25,307 acre (102 km2)"
https://www.northarrowminerals.com/news/press_releases/index.php?content_id=63
Comment : the total area of the three Clean Commodities leases in the map above is 14.5km2
2) November 23, 2010 : "North Arrow Reports Federal Court Decision on Phoenix Project Land Use Permit"
https://www.northarrowminerals.com/news/press_releases/index.php?content_id=91
Comment : the Court rejected the claim that First Nations had been consulted

3) January 30, 2023 : first mention of "Lithium" in 12 years
Comment : NAR has in the last year switched from Diamonds back to Lithium
Given that strategy change, why would NAR not attempt to recover Phoenix from DG ?

IMO the merit of this Transaction pivots on the ability to rapidly progress the Phoenix project.
DG MUST therefore provide evidence that all concerns of First Nations have been addressed for the three Phoenix leases.
For without it this Phoenix will become OM1's Icarus.

OM1 should withdraw all of the sampling assays that fall outside the Clean Commodities Leases.
It is misleading to publish those assays in the Announcement.

About the map :
Reported samples over 5% Li2O are annotated with sample number, assay, easting/northing
A reference point in Long/Lat is included to assist users of non-GIS mapping servers.
The orange/blue bubble size is a relative Li value.