- Due diligence identified five major pegmatite bodies within the license areas with 2
tested and confirmed to be lithium bearing .....Proposed JV (HIPO 60%, Crown 40%) will include Mining License PE 13081 and Exploration Licenses PR 4072 and PR 4076 covering an area of approximately 400 km2 and containing extensive lithium bearing pegmatite
- Assay results of up to 1.43% Li2O from samples taken on the weathered outcrops of the pegmatite on the Kamola Lithium Project ...Based on assay results of adjacent projects, it can be concluded that fresh non weathered samples from drilling should return significantly higher lithium grades (to be tested as part of the next stage drilling program)
The key drivers for me to buy were ...
a) that the DD results did not refer to tailings as teh earlier announcement did. (I'd have been all over that).
b) They are no longer referring to "pegmatites" rather to "confirmed...lithium bearing pegmatites"
The hilarious thing is that the market took it to 6c+ in a day when they were just pegmatites and DD based on tailings. And today, with much stronger statements it's started settling around 2.5c. Go figure.
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