GNM 0.00% 1.2¢ great northern minerals limited

Lithium

  1. 6,772 Posts.
    lightbulb Created with Sketch. 4264
    First of all, a very good debate today on the OHD project, which no doubt left a few of us scratching heads but also thankful that two people with differing views can present their cases, cheers @jantimot @Davey boy, and that through their wisdom can test and extend our knowledge bases.

    But onto the Lithium, and corrections appreciated if I have gotten this incorrect............
    I'm a little confused with the progress and/or lack of results/updates to where we are at with the Lithium.

    30th March and the company release the announcement that the Lithium discovery was confirmed at Morabisi with highlights of up to 1.04% Li2o being very encouraging from the generally weathered and oxidised nature of the rocks sampled. Of the 18 samples from the Turesi Ridge (up to 1.04%Li) only 3 of these were of any note .93%, 1.0% and 1.04% with another 2 being .76% and .5%. Assays from 20km Ridge, Robello and Rumong-Rumong were pending to confirm that the Morabisi Project truly is a district scale Lithium and Tantalum project that may rival WA Pilangoora Region....as well as the company was preparing an airborne geophysical survey to try and identify additional areas similar to Turesi Ridge.
    http://www.asx.com.au/asxpdf/20170330/pdf/43h4sygxhks6rk.pdf


    1st May GPP announced that it Phase 1 Morabisi work program was completed on time and with-in budget, with the highlight being further assay results from the 20k Ridge, Robello and Rumong-Rumong were expected in May and goes on to list the activities and sampling that was undertaken.
    Sampling program:
    Turesi:14 grab samples, 44 stream sediment sample in-lab
    20km Ridge: 22 grab samples, 3 grab samples in-lab, 82 stream sediment sample analysed, 15 stream sediment in-lab
    Robello: 2 sediment in-lab
    Rumong-Rumong: 36 grab samples, 17 grab samples in-lab, 105 sediment sample analysed, 61 sediment sample in-lab

    ** Confusion point: Assays were already pending for 20k Ridge, Robello and Rumong-Rumong as per the announcement 30th March, did these get lost???
    The company again indicates of a district scale LCT Pegmatite system.


    http://www.asx.com.au/asxpdf/20170501/pdf/43hxddzkqpmm5r.pdf

    24th May Company releases a Corporate Update:
    Key points for the OHD project I have posted previously, bug bear being the PFS that wasn't delivered in the quarter.
    AGAIN!!! Final assay results from 20k Ridge, Robello and Rumong-Rumong are expected imminently!!!!!!!!!
    http://www.asx.com.au/asxpdf/20170525/pdf/43jh654k62s877.pdf

    1st June Major REE Discovery at Robello
    Key highlights being results from sampling returned high results and being ore-grade alluvial mining scenario with the potential to host an economical REE, Tantalum and Niobium deposit regarding as highly likely.
    The company are pleased to advise that it has now received the final batch of assay results indicating Robello area to be rich in REE.

    **Confusion point:
    Morabisi Sampling Program
    Turesi: 14 grab samples assayed, 44 stream sediment sample analysed - identical to 1st May announcement.
    20km Ridge: 25 grab sample assayed, 97 stream sediment sample analysed - identical to previous announcement.
    Robello: 3 grab samples assayed, 4 stream sediment sample analysed - differs from previous announcement, there were no grab samples collected, did they just pick some rocks up and chuck them in their bag on the way home?
    Rumong-Rumong: 14 grab samples assayed, 23 stream sediment sample analysed - differs from previous ann.

    **Confusion point:
    As these assays were highly anticipated/expected I am totally confused with the lack of any reporting for Lithium with the total focus being on the REE discovery. Although Turesi Ridge does get a mention with the rehashed results from 30th March announcement.
    An immediate follow up drill program is being evaluated for REE, immediate?? at least it wasn't imminent!!!!

    ** Confusion point:
    The company and GSM were pleased to have confirmed the presence of Lithium bearing pegmatites at Turesi Ridge, the JV is currently finalising it views on Phase II with the general view being to immediately employ a portable track mounted diamond drill rig to test LCT pegmatites in fresh rock to understand the ore bodies.
    http://www.asx.com.au/asxpdf/20170602/pdf/43jpbk849fvm40.pdf

    **Confusion point:
    Immediately is coming up to 5 weeks ago, still no update that this has been mobilised.


    Is the REE discovery a distraction for lack of Lithium results????
    Has GPP got too much on its plate, or too many irons that can strike that is holding specific investors away?

    Missed time lines, no explanations for the late OHD PFS (IMO, it may have something to do with the hydroponic trials), inconsistencies in reporting, adding another project into the mix (REE)
    Do we need more specialist people on the board?



    I would like to report that the company has provided some clarity but unfortunately answering machine, emails not returned.

    cheers

 
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