So that 20-30% spodumene is based on those 2017 cores hey?So If...

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Jasongray

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13/08/22

20:50

Post #: 63098852
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Originally posted by Weally: ↑

Definitely case by case. Spodumene is easily altered and lithium is highly mobile, so any weathering of the spodumene will significantly affect the grade. In the above table, they mention fresh pegmatite however they don't mention how much so ambiguity number 1. Ambiguity number 2 is accuracy of the 20%+ spodumene claim. Ambiguity number 3 is how homogenous is the spodumene estimate throughout the whole pegmatite?

If it's all fresh spodumene, it has an 8.03wt% Li2O, so completely unaltered pegmatite with 20% should come in at 1.6% Li2O.

20% / (1 / 0.0803) = 1.6%
30% = 2.4%

Realistically, it's moderately safe to assume that, if their estimates are correct, it should be greater than 1% Li2O (37.5% margin of safety on the guess). The question is, how correct is their estimate? 24m at ~1.6% doesn't sound all too bad, but 200m is too deep until they find something closer to surface.

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So that 20-30% spodumene is based on those 2017 cores hey?

So If im understanding correctly then this is heading straight down and hopefully into our tenement but I would assume they wouldnt be quoting pegmatite intercept that is out of our tenement so lets assume its heading down into our tenement.

So the depth would just be lining up to those existing hits and with previous grades confirmed, at deeper depths (I dont know if it helps) but the grade is the same, if not better.
Now if we look north to BP33, we can see an almost mirror situation and their widths are upwards of 75m but at great depth but it would be set up as underground, not open cut.

LPM Price at posting: 69.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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