@BigoweyI can't say anything about where the mcap could get to. I'm not a fortune teller mate.
IR1 is only drilling the Beecher project atm (which consists of Longview and Black diamond prospects, and they are very close), and also it has many other prospect in different areas of Black Hills.
We can only make a guess for Beecher project atm. The pegmatites which we got the assays are loaded with spodumene. That's the first major thing which holds me here. Secondly it's getting deeper than expected. Even though the area is not that big but the pegmatites are dense and deep, and more importantly at shallow depth. That's what we should want from a mine.
If the pegmatites are far from each other and at depth lower than 150mt then I wouldn't be interested in that project because it wouldn't be mined economically and the project would be a false one. That's why I am not interested in many of the lithium projects which mainly in James Bay and Pilbara. I'm not a trader so I'm looking for the long term specs and potential of the projects.
Beecher project looks like it will have at least 15mt resource over 1% L2O. That's a very good starting point for me as the project is in the hearth of the US. The resource volume and grade might be much higher but we need to see more drill holes. The current 50 RC holes (38 old and 12 new) plus 2 new DD holes will give us a good idea. I'm not sure when they will start new RC & DD drilling. We will see soon.
The new pegmatite found under the flat lying ~30m shallow pegmatites at Black Diamond looks like a giant one. I think it starts from 130m and goes down for 93m. We need to have its assay results. We don't know where it's coming from, what's the ave. grade and its strike length yet. It might be a game changer because it might be a continues one and might be found under the shallow pegmatites discovered at the north at Longview area. That'd be a 1km strike length and would make another 15mt resource. This is all speculation for now though
But better to be careful and not get caught in hype.
We need to wait and see.
