Ann: Thompson Bros Lithium Project Presentation and Update, page-16

A few quick things to emphasise.

We can assume the exploration target 9.0Mt to 13.0Mt at 1.3% to 1.7% Li20 will allow a starter pit operation. Concentrate grade produced from testwork at 6.37% is above the 6% grade typically expected.



It should be low risk to scope / develop and finance as it is in a stable mining region. Small startup scale should support a low capex startup. These attributes should support a less challenging route to funding of the project ( low risk nature of the project ).



As the starter operation is scoped, other exploration work can proceed in the broader tenement areas to uncover other pegmatite dykes. Most are hidden by overburden. Historic exploration primarily involved ground sampling techniques and then pegmatite dykes were exposed with water blasting. With modern exploration, helicopter survey and other techniques can be used to guide exploration.