Sorry, but need to retort with some harsh truths which you won't like but hopefully can learn from.I'm not a holder in WR1, but comparisons of these results to WR1 are nonsense.
WR1 initial discovery at Adina already had surface rock chips grading up to ~5%, and while they didn't have assays at the time, they had core which "showed the pegmatites to be consistent withpreviously reported surface mineralisation". ie. it was almost certain that the drilled core contained Li minerals due to the same visual appearance.
VSR's rock chips are 100-200ppm which are lower by a factor of >200x than 5% (50,000ppm), and more importantly there is no mention of Li minerals, and specifically spodumene in the announcement. As mentioned by others, Li minerals in sufficient quantity can be observed by geologists or under UV light, that there is no mention isn't a good sign for decent Li grades in the pegmatites drilled so far.
Also, in these type of announcements its important to pay close attention to the wording and read between the lines. The following statement hints that they don't expect to have decent Li grades in these pegmatites (note the inverted commas they insert for 'first pass' targets):
“We now have a much-improved model of the regional pegmatites at Ti Tree in terms of structure, down-hole continuity and zonation, all of which are critical data for vectoring towards an LCT discovery” Mr Walshe said.“These ‘first pass’ preliminary targets were selected due to favourable access and will now provide essential geological information for subsequent ‘priority 1’ targets".
As I see it, don't expect any economic grades from the pegmatites drilled so far, and if no decent Li is found in subsequent drilling, expect a decent wack to the share price if negligible Li assays are announced as has happened to EFE, ALY, LRD, MRR, FRS, TYX, RGL, IMI, RAS etc.
- Forums
- ASX - By Stock
- Ann: Trading Halt
Sorry, but need to retort with some harsh truths which you won't...
- There are more pages in this discussion • 41 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add VSR (ASX) to my watchlist
(20min delay)
|
|||||
Last
1.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.179M |
Open | High | Low | Value | Volume |
1.9¢ | 2.0¢ | 1.8¢ | $16.88K | 898.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 30000 | 1.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.9¢ | 193236 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 30000 | 0.018 |
4 | 1176470 | 0.017 |
4 | 811878 | 0.016 |
5 | 322078 | 0.015 |
3 | 320918 | 0.014 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 193236 | 2 |
0.020 | 1226319 | 4 |
0.021 | 30000 | 1 |
0.022 | 146455 | 2 |
0.023 | 510018 | 4 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
Last
1.8¢ |
  |
Change
0.000 ( 0.00 %) |
|||
Open | High | Low | Volume | ||
2.0¢ | 2.0¢ | 1.8¢ | 46878 | ||
Last updated 15.06pm 03/05/2024 ? |
Featured News
VSR (ASX) Chart |