Two rounds of historical drilling in 1969 and 1981, confirmed that the pegmatite extends at least 1,500m along strike, with very high grades (ranging from 3.5% –5.5% Li2O).
The Arcadia pegmatite is exposed in a 100m long pit on a steep hill slope and has 3 to 10 metre thickness. The pegmatite is of the Na-Li (sodium – lithium) group, is zoned and is mineralised in: spodumene, eucryptite, petalite and amblygonite. Spodumene is abundant in the east and petalite constitutes 10% to 50% of the pegmatite in the west.
Can anyone confirm that drilling has started in the west? And if so, then drilling results are confirming the historical data that suggests, "petalite constitutes 10% to 50% of the pegmatite in the west". So should we be alarmed that they have found petalite? And has intercept thickness exceeded expectations of visual data? And has management been open and honest with regular updates, confirmations and round the clock drilling? So why all the hype, is it all speculative? And why the buying frenzy on this stock?
I am happy to be proven wrong on the above points, but the million dollar question is, Will drilling prove, "Spodumene is abundant in the east" with "very high grades (ranging from 3.5% –5.5% Li2O)". And if so, will down rampers and trolls "buy in". It would be great to generate some sensible conversation on these topics.
PSC Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
