https://hotcopper.com.au/threads/good-news-no-bad-news.5950661/page-19?post_id=51911964
I love that pic DFS. My inner Auditor always reminds me that talk is cheap, evidential confirmation everything. They said they were going to drill the sterilised section and here they are. The last Quarterly mentioned them drilling the Central Pit perimeter also.
As other posters have said here,
the new Digital Sales Platform sends out a very strong message, that if you want the good stuff, we got it.
A major resource upgrade now would be very exciting for all PLS shareholders. All the Lithium majors have always tried to squeeze the smaller players and inhibit their development. It was almost a fatal move for Tianqi, who still struggle financially. Their CEO took the fall for it.
Now its our turn to outmuscle other players. IMHO,
we get in first and let the wannabes wait for us to max out. However by then we would've increased our resource and be talking Plant 3.
Our production success makes other Spod producers technical skills look questionable.
If CapEx is to be spent anywhere, it should be on us ... at least to begin with.
With proven technical production ability, combined with a massive resource upwards of 400mt, could we look to having production plant (based on a 20 year mine life) of 20mtpa, ie 10 times Pilgangoora Stage 1 ... and therefore SC6 production of ~3.3mtpa? Plant 3 anyone?
"Assessment of the resource model and geology within the Pilgangoora project has resulted in a revised Exploration Target that has now been upgraded to 50-90 million tonnes grading 1.0-1.5% Li2O (lithia), demonstrating the incredible endowment within the project area. There remain many areas at Pilgangoora that are under-explored (refer to Figure 3), and as such are important targets for further resource growth over the coming years."
PLS Sep18 Quarterly Report
The sterilised section was not highlighted in green here.
I'm not aware of any of the targeted resource drilling actually being carried out, due to financial constraints at the time.
Our last Quarterly Report highlighted drilling the Central Pit perimeter and now the Instagram pic confirms current drilling of the sterilised section. We already know something is there from Altura drilling:
There are 3 large pegmatites that's traverse the PLS/AJM tenements border. They grade 1.48%, 1.63% and 1.66%.
https://alturamining.com/wp-content/uploads/2017/07/1678212.pdf
Page 7 Zoom in on the small diagram.
"In addition, with much of the Pilgangoora Project area remaining under-explored and several recently identified target areas showing potential for further resource growth, Pilbara Minerals is confident it can continue to increase the Resource. The Company recently upgraded its exploration target to 50-90 million tonnes grading 1.0-1.5% Li2O (Lithia)"
Stage 3 Scoping Study Outcomes - 26Mar19
Mt Francisco
"Inaugural exploration program including reconnaissance RC drilling has been completed at Mt Francisco. Drilling has intercepted multiple pegmatites containing tantalum and lithium mineralisation. Whilst drilling to date has only tested a relatively small portion of the project area, geological logging has shown lithium mineralisation to be associated with zinnwaldite and lepidolite, with exploration for major spodumene occurrences continuing."
PLS Sep18 Quarterly Report
When Gina took AGO, all exploration stopped on Mt Francisco. Although in a later interview with German TV, Ken mentioned Mt Francisco was still very much a resource in his future plans. At the time, Mt Francisco was called the largest of the 3 Pilbara outcropping resources.
It is not inconceivable that we could have a 2nd Pilgangoora in our back pocket. Further, that Gina may see the potential and proven production and managerial success of the PLS BOD and look to resource drill and develop Mt Francisco.
I always remember former PLS holder Pokerface mentioning on this forum in 2017, that the PLS BOD said that the PLS resource size could eventually prove to be over 1 billion tonnes ... and just as Chris Ellison said of his Wodgina resource late last year, we are untested at depth.