Colina JORC Discussion

Let's keep the JORC discussions in here. Estimates and general discussion etc. I've just finished adding all of the significant intersections and associated grades to my model.

Average grades for Colina across all significant intersections reported to be included in the MRE calc = 1.65%.

It's possible (but not a guarantee) that we could have a JORC with the highest grades of any current ASX lithium explorer (time will tell)

I don't think you can simply take 1.65% and assume it will be exactly the grade reported in the JORC (partly as JORCs consider a range of tonnages at different cut off grades), but it gives you some guide as to the rarity and significance of the grades we are sitting on generally speaking.

The limiting factor to LRS becoming a $1bn+ market cap is almost purely down to tonnages. Our grades are world class, and our likely costs to produce will very likely be lower than almost every other competitor (if Sigma and our Met Testing is a guide).

Some hard rock spodumene grade comparisons (across a range of JORC MRE and DFS studies)

Sigma: 1.55% (phase 1) and 1.37% (phase 2)
GL1 Manna: 1.14%
GL1 Marble Bar: 1.0%
AVZ: 1.65%*

RDT: 1.2%

SYA: 1.01%
CXO: 1.3%

LTR: 1.4%

IMO DYOR not advice

*Obvious question marks surrounding sovereign risk for AVZ which has been in a suspension for many months now - however the resource itself is huge and very high grade.