LTR (ASX) Buldania Project discussion

Originally posted by anatol: ↑

I saw on the other thread (RSS Presentation in Brisbane) Buldania Project was mentioned. I posted the material below on my first post before but it was moderated later on. (I am hoping there is nothing to be moderated on this post as I use all company references and facts with very little speculation). Some other posters asked me to post some of the maps as they wanted to use them for future references.

This project is very interesting. I was following LTR for 3 years. I was actually waiting for buying in for the next drilling of this project (last drilling was last year) but when Kathleen Valley drill results came up as significant at the beginning of April I bought in immediately around 2.1c. Then I started working and researching on more on Buldania. (Still holding)

LTR's first exploration drill program was executed last year and 96 RC holes for 11,000m and 3 diamond core holes for 548.5m drilled. I think this project is not a new starter. This much drilling gives a lot of idea to me.

I have found all drill holes and marked them Google Earth by their exact coordinates to understand where the high grade intersections were and what the shape of deposit was, and where the possible extensions were going to.

We all know now (as it was said on Preso yesterday in Brisbane) that the drilling at Buldania has been already started a week ago.

I don't want to speculate about the resource size of the Buldania here. I believe it will be bigger than KV. However we need to see the company MRE (Mineral Resource Estimation) or their ET (Exploration Target) as they have given us for KV project.

This is the tenements map of and around Buldania. The main highway from Norseman goes through the project by the way. Killaloe at NW is one project and Norcott Project at south is another one. Not sure what they are for though. I think they are securing the area in case it might come up as lithium province like Pilgangoora of Pilbara.

This is a close look up to Buldania Project. Anna Pegmatite (which is drilled) is at the south.

At the northwest, there is the NW Buldania area.

There has been rock chip sampling with very high grades at this area, and 800m long and 20m width pegmatite mapped together with some others.

NW Buldania Pegmatites (Rock chip sampling done)

There has been rock chip sampling with very high grades at this area, and 800m long and 20m width pegmatite mapped together with some others.

The below graphic is from company anns.

This graphic is my one I have done on Google Earth pro by marking the coordinates of rock chip samples. I have paid a lot of attention to the mapped 800m with 20mt width pegmatite outcrop. Very interesting indeed.

This area will be drilled during the current drilling program which is already started.

Anna Pegmatite of Buldania Project
This graphic was what the company gave us. See the Pegmatite Outcrops and Covered Pegmatites towards the SE along 1.3km strike length.

At the end of the 1.3km strike, the last hole was still intersecting 14mt 1.7% Li2O including 11m 2% Li2O starting from 130m depth. Apparently there was no pegmatite outcrops here but the pegmatites were dipping down from NW towards to SE and being very thick and high grade.

The interesting part for me is that the strike is still open towards to SE.

I have found and marked all drill holes by intersection depths and grades on Google Earth map as below.

Vertical;

Perspective;

After I marked the drill holes on the ground, I realised that the company gave up 50m speced drilling at the NW when they got found the covered pegmatites and got very good results from the buried pegmatites, then they quickly started 100m spaced drilling (only one hole at every 100m) toward to SE. I think they also excited with what they have found.

They have announced all of the assay results on Nov.20 2018. No more drilling done at Buldania after that since a week ago.

Yes it was exciting to intersect such high grade over 1.3km strike length.

Then a Cap Raising done for $7.9m on Feb.2019.

I found the cross-sections from the company anns. and saw that the pegmatite outcrops at the NW then dips down towards southeast.

Also the company was saying on the anns.
"At the northwest end of the mineralised system the pegmatites dip shallowly - moderately to the southwest. Towards the southeast where the pegmatites plunge under cover, the dip appears to flatten"

I just put the arrows to understand the directions.

This was the last cross-section given by the company. (D-D')

When I see how the pegmatites could go down toward southwest, I thought it could be something like Kidman's Earl Grey deposit.

The below graphic shows if those pegmatites are open towards SW then there might be a huge resource there. Of course they should be open toward to a dipping direction as they come up from the earth's crust/ magma. It's the job for drilling to reveal.

We all know that the company has already found the ore body (Mt Mann pegmatite) after drilling extensively. Same thing will happen in Buldania.

This is only the width of 1.3km strike length.

The below graphic Anna pegmatite Long section 3D was given by the company. The next one is mine. I have put my measurements and markings on it.

All information is all written on the graphic.

See the last hole towards the SE which was 14m @1.7% Li2O was intersected (including 11m @2%). And it's open to SE.

Good luck to everyone.

Expand

As you have been following the lithium trail for a while perhaps you can comment on the amount of water required in the mining or processing of the ore. I have been reading the mining reports on the West African deposits and the concerns being expressed on water resources. As Australian mining engineers are doing a lot of the work it is a good idea to compare the values being placed on these West African mines and the hurdles they are looking at. In particular Kodal Metals[KOD Aim] who are quite advanced in the process of getting mining grants.

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(20min delay)
Last 64.5¢		Change -0.020(3.01%)		Mkt cap ! $1.564B

Open	High	Low	Value	Volume
68.0¢	69.0¢	64.5¢	$34.33M	52.94M

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