Those predictions for 17mt LCE sound too high to me.
Using Azure's top end of its exploration target of 240mill t and the mid point of grade at 1.25% lithium oxide, would give 3 mill tonne of lithium oxide or 7.4mill t of LCE. The top end of the exploration target at max grade would be 8.9mt LCE The mid point of the exploration target would result in 5.2mill t LCE. The bottom end of the exploration target (100mt at 1%) would result in 1mt of lithium oxide which is 2.5mt LCE. So an initial Jorc could come in at somewhere below 2.5mt LCE up to 5.2mt and that may later grow to 8.9mt LCE if the exploration target lives up to its potential. That upper end would certainly be considered speculative and may take a lot more drilling - i.e. unlikely for the maiden JORC.
By contrast, Phoenix has a JORC resource of 12.4mt with a 1.9mt reserve for East Brawley. What would the exploration target be for areas outside of East Brawley? It should be quite large. Brine and hard rock are not directly comparable."Earlier this week, Azure unveiled some significant drilling results from infill and extensional reverse circulation and diamond core drilling at the Andover project.
The drilling confirmed broad zones of high-grade lithium mineralisation extend from surface to more than 400m vertically below surface over a strike length of 2,000m, indicating that the local pegmatites have the potential to host substantial lithium resources.
Earlier this month Azure announced a maiden Andover exploration target of 100 to 240 million tonnes grading at 1.0 – 1.5% lithium oxide from target areas 1, 2, and 3.
The company is now looking to progress those exploration target numbers to a mineral resource estimate by early next year."
https://*********.com.au/azure-minerals-andover-lithium-project-proximity-opportunity-raiden-resources/
