LPM announced some ore sorting results yesterday with...

LPM announced some ore sorting results yesterday with interesting implications for Core.

Firstly however some basics about Lei (Kelly). The Lei deposit would appear to be part of the same wider system that has created
This deposit is close to four Core JORC deposits - BP33, Ah Hoy, Sea Dog and Penfolds. As distance context, BP33 is 2km from Lei. Grants is about 5km from BP33 so Lei is closer to BP33 than Grants.

The Lei pegmatite also extends into Core's tenement but obviously when LPM defined the JORC resource they could only define the element of the pegmatite that was on their side of the tenement boundary. The extent of Lei extending into the Core tenement is unknown but could easily be into the million or even multi-million ton range.



Not all of Lei exists on LPM's tenement
LPM has noted that the JORC resource they have defined starts at the tenement boundary and continues to the NE.


Kelly is the name of the pegmatite that appears on Core's side of the tenement boundary, for what appears to be the same pegmatite or peg system.


Drilling on Kelly
Core's only done a few drill holes into Kelly. Kelly has a useful 15m @ 1.44% intercept at ~100m deep and is open at depth. Core's interpretation is that it thickens with depth. SCR152 was positioned close to the Core's tenement boundary and drilled to the NW.



From this map in LPM's prospectus, the Core-LPM tenement boundary appears to be about 693600 E. The map also shows the location of 8591000 (Core's two drill holes were at 8591037 and 8590975). The drill holes were targeting a straight continuation of the pink mapped pegmatite.


LPM's drill hole map is below. They have progressive moved to the east to get the angle to undertake deeper drill holes. All but one of the drill holes stop on the 693600E line on the very left of the map below. Based on the width of the purple marked pegmatite, the interpretation by LPM is that the thickest portion of the Lei pegmatite exists on Core's side of the tenement boundary.



So while LPM were announcing Lei met test work, they might as well have been titled Kelly Met test work.