This horse is about to bolt again and happy to be on board for now. Looking forward to the assay results from 001, 007 and the Manono Sector trenches. Some notes below for what they are worth. A peace of mind for me and Food for thought, Good luck …
SP: 7.3c (1 Aug 2017) FPS: 1,474M Options 300M MCap: ~$108M Cash: $1.18M (end of June qtr, operating outflow June qtr was ~$1.5M ).
Proj Sep qtr cash outflow $0.65M, capital raising due by end of Sep qtr before commencement of resource drill out phase.
Project: Manono Lithium Project, Congo (60%)
Conceptual exploration target 400 – 800Mt @ 1.0 – 1.5% Li2O
EV at lower end of conceptual model, 400Mt @ 1.25% Li2O for 5Mt contained Li2O
5Mt x $315t x 60% = $945M or 64c per share potential within March 2018 qtr.
PLS value per resource Li2O tonne (~1.95Mt contained Li2O) = ~$315t
PLS SG’s: oxide 2.53 g/cm3, transition/fresh 2.72 g/cm3
Kitololo Sector
Roche Dure Pegmatite (length ~2.75km) - Kitololo Pit drilling
“is evidently as large or larger than the famous Greenbushes Pegmatite in WA where current resources are stated as 240Mt of 2.4% Li2O”.
“Observations of outcrop suggest that the main Li mineral in the large pegmatites is spodumene (up to 30% of the rock volume)”.
MO17DD001 (311m EOH depth), 400m along strike SE of 001, collar located immediately west of trench 5, 197m @ 0.56% Li2O (“weathered Peg”) inc 38m @ 1.29% & 29m @ 1.54% Li2O (“relatively unweathered Peg”). Poss width 220m of Li mineralization, assays pending. Oresome.
MO17DD002 203m @ 1.57% Li20 1078ppm Sn
MO17DD004 (153m EOH depth), 800m along strike NE of 002, near T4 4m @ 0.63% Li2O
MO17DD003 (234m EOH depth), 800m along strike NE of 004, nil trenches, eastern end.
Potn Res based on 001-002 only: 1200m (s) x 200m (w) x 300 (d) x 2.7 (sg, fresh) = >194Mt @ >1.25% Li2O +
Kyoni Pegmatite (length ~0.3km)
Nil trenches, nil DD holes
M’Pete Pegmatite (length ~0.75km)
Trench 6 to 7, results pending, inc MO17DD005 (138m EOH depth) located in the vicinity of T6.
Tempete Pegmatite (length ~1.5km)
Trench 8 to 9, results pending, inc MO17DD006 (250m EOH depth) located ~1km NE of T9.
Manono Sector
Carriere de L’este Pegmatite (length ~3.5Km)
Trench 10 to 12, results pending, inc MO17DD007 (351m EOH depth) located ~1.2km SE of T11-12. Interesting EOH depth, similar down hole mineralization to 001-002? Oresome plus.
“is evidently as large or larger than the famous Greenbushes Pegmatite in WA where current resources are stated as 240Mt of 2.4% Li2O”.
“Observations of outcrop suggest that the main Li mineral in the large pegmatites is spodumeme (up to 30% of the rock volume)”.
Malata Pegmatite (length ~1.25km)
Trench 13 to 18, inc Trench 14 26m @ 0.54% Li2O (weathered Peg). Nil DD holes.
“The Malata Pegmatite contains, in addition to spodumene, some lepidolite”.
Kahungwe Pegmatite(length ~2km)
Trench 19 to 21, results pending. Nil DD holes.
“There is at least one small pegmatite exposed in the Kahungwe West pit (northern end of Manono sector) that is a lepidolite pegmatite”.
Expand
