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Has15

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16/11/18

15:59

Post #: 36535370
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Originally posted by Freehold: ↑

I think that's way way too optimistic. The 1st Jorc (259mt indicated total) was from 31 holes and they had drilled 42 at the time so extensional drilling not already in the Jorc was 11 holes or so. Phase 2 drilling was almost all infill drilling not step out there were a few step out holes.

So no not expecting a big increase in inferred tonnage at all, perhaps max of 20-25% increase to inferred total say 300-320mt and a decrease in the avg % Li20 to say 1.5% as the step out comes in at lower grade bringing down the overall average grade.

What I am expecting however is a large % of existing Inferred to be upgraded to Indicated and Measured category to be roughly a combined 220 to 250mt from the initial 104mt indicated (of which 43 is measured). This increased density of drilling increases the certainty considerably and the value of it in monetary terms.

Put simply the wildly inflated numbers you posted are not possible given the drilling type that has happened in phase 2 and it is probably not helpful putting wildly optimistic numbers out which AVZ have zero hope of achieving.

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Yeah you're right, I agree with that.

judging by the arrangement of the latest boreholes, it looks like they're focusing on maximising the measured resource, rather than converting inferred to indicated. Resource assessment tapers at 6600 and 7700 by the looks of things as thats where it only hits 80m of spod

AVZ Price at posting: 8.1¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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