Hi Smithfield
This is the announcement from WC8 about their acquisition of the Tabba Tabba tenement.
https://announcements.asx.com.au/asxpdf/20230517/pdf/05psbcjx59ktrj.pdfThey picked up the tenement knowing there was one decent Li intercept... but mainly it seems they were punting the known high grade tantalum deposit would likely be associated with Li.
CAI's announcement is reporting elevated levels of tantalum in the soil samples but they are not high grades (the highest reported soil sample is 79.8ppm .... something above 400ppm is high grade).
The followup diamond drilling by De Grey which twinned the earlier RC results at King Cole returned a more accurate and lower reading for Li but still good.
https://announcements.asx.com.au/asxpdf/20181115/pdf/4409xwdw8wv1ly.pdfDe Grey discovered the King Cole mineralisation in 2017 and did some further work in 2018 but did not consider it was a commercial deposit. The drill results indicate the lithium is predominantly hosted in petalite, lepidolite, spodumene in that order.
I am not up with the latest information about lepidolite but I vaguely recall it can be commercial in today's market. CAI's ground comprises about 10k's of strike length... it has the right pathfinder elements and is on the same trend as WC8's discovery. Only drill results will determine if there is a repetition.
(20min delay)