My high level assessment; Focusing on delineating an MRE in the...

My high level assessment;

Focusing on delineating an MRE in the central area of central lacroma. This is where they've got good grade, at surface, prelim met understanding so it's the best bang for buck to get resources into a feasibility study and compliment existing campoona resource.

This looks to be of similar grades to RNU 7-9% TGC noting RNU is around 7.5% TGC in it's reserves.
So it looks as if that central area of central lacroma will be very good solid inputs to add to our existing MRE at campoona (noting that is higher grade again)

On second lense of attack, they are also going to test and drill traverses in the west target - which looks insanely large and high conductivity (high grade possible). I am VERY excited about those. It looks like it will dwarf everything at lacroma central which already has shown the central area is in line with economically viable grade of typical graphite developers. So if that whole area out west is that grade or higher this could be an extremely large close to surface graphite deposit.



West looks very good as i suspected in Post #:68767201 Post #:68774494

"Anyways - on another note which everyone has overlooked myself included in the past. the magnetics surveys are showing some serious upside in Lacroma.

There's actually three massive targets at lacroma.
West, Central, East.
We have been drilling central. This makes sense as we had some historical holes so both west/east may have been a risk.

Now we have confirmed that the magnetic survey fairly accurately delineates where the graphite is and scale.
Additionally, it also seems to indicate fairly well whether the grade is high or low and whether it is as surface.

Take a look at the below.
West looks massive, stronger and maybe even closer to surface
East looks similar size/strength to central, but stronger signal (higher grade) but deeper.



Note 6024 section where we drilled and got thick hits at central. Look how much of west extend above. It's wider than lacroma and cut off from the page.

So see below. Looks at east lacroma. Very strong signal at depth.
Look at west, at surface and strong.


In short,
Lacroma west looks like it could infact be larger than central.
lacroma west looks like it could have more minerilisation at surface.
It looks similar in grade.

It also looks like both west and central kind of meet in the north.

If you look at the drill results so far at lacroma and note that there is only a strong signal from the central zone in 3-5 or sections.

If i try to circle were the high density magnetics are coming back on west this is what it looks like.



I've spoken with the team and passed on my thoughts. It makes sense why to target lacroma central first as we had that central drill results so we knew there was graphite present. Drilling in the west or east would have been real greenfields.

Now that ITM have a much deeper understanding of what a magnetic survey will correlate to in terms of the nature, widespread, thickness, grade of the graphite I am interested to see how our drill program progress.

They have confirmed a 4km strike on central - i think we'll end up with more infilling around the first traverses as it looks thicker and more at surface.

But i would not be surprised if the remainder (or the extended program which itm said it was fully funded for) targets the target out west.

I think these 3 targets all look very good and potentially all economic.
West to me now looks as if it might be double in size to central, and potentially more economically viable if it turns out to be similar in grade and strip. Actually looks even better.

I'd be curious to throw a few into east to understand just how high grade that stuff is at East."