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LIGHTNING MINERALS LTD — Capital/Financing Update 2023
Apr 30, 2023
65212_rns_2023-04-30_b4e92c58-ed79-4563-99e3-61f48cbbe1a2.pdf
Capital/Financing Update
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ASX Announcement
01 May 2023
FURTHER LITHIUM ANOMALISM IDENTIFIED AT DUNDAS PROJECT
Lightning Minerals (L1M or the Company) is pleased to report its final soil sampling results for its Dundas projects in Western Australia, marking the end of the Company’s Phase 1 exploration strategy.
HIGHLIGHTS
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Dundas North soil geochemistry identifies further lithium soil anomalism up to 147ppm lithium
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Three large lithium target areas identified, with the largest being ~35km[2] and all warranting further work
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Results mark the completion of Phase 1 exploration at Dundas. Next stage of works is drilling at Dundas South prospect E63/2001[1] and infill auger drilling at E63/2000[2]
Lightning Minerals Chief Executive Officer Alex Biggs said, “Completion of all soil sampling across our Dundas tenements is a strong step forward for the Company. When we consider the number of targets that have been identified through our Phase 1 of exploration, both through soil sampling and geophysics, this lays solid groundwork for exploration drilling which will form part of our Phase 2 exploration strategy. As we move towards drilling in June at our E63/2001 tenement, I thank our shareholders, team and stakeholders for their support as we move into a transformational period for the company”.
DUNDAS NORTH LITHIUM SOIL RESULTS
Geochemical results for the final 1,308 samples have been received for samples taken within the Dundas North project (E28/3027 and E28/3028). The results highlight three target areas that display elevated lithium in soil values up to 147ppm, with some correlative rubidium, caesium, and tantalum elevations. The largest target area of 35km2 is located on the western portion of both tenements. The three target areas are highlighted by light blue ellipses in Figure 1. The underlying geology consists of the interpreted sediments of the Mt Belches super sequence, the same geological unit that hosts the Bald Hill lithium-tantalum mine ~30km to the West.
These results complete the laboratory analytical work for the Company’s inaugural geochemical program across the greater Dundas project area.
Samples were collected on a nominal 400m x 400m grid across the tenements, with analysis completed by LabWest Minerals Analysis (LabWest). Analysis utilised the Ultrafine + (UFF+) method with chemical analysis for a suite of 62 elements including lithium and associated pathfinders for lithium-caesium-tantalum (LCT) mineralisation. Project scale sample site locations and returned lithium values for the Dundas North tenements are shown in Figure 1.
1ASX Announcement 28 April 2023 2ASX Announcement 24 April 2023
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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Figure 1: Dundas North tenure showing returned UFF+ lithium soil geochemistry results
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The tenor of background lithium level within the project area and the Mt Belches lithological unit appear to be approximately 40-60ppm lithium, with the elevated zones returning multiple samples with values above 80ppm lithium and up to a peak result of 147ppm lithium. Results are thought to provide sound vectors toward potential mineralisation as the elevations are clustered and are proximal to suitable granitic protoliths within the ‘goldilocks zone’ for LCT pegmatite mineralisation. The ‘goldilocks zone’ is typically estimated to be between 2km and 10km from the source granitic body. This geological setting therefore requires follow up exploration works to ascertain the source of the anomalies.
Coincident elevations of rubidium (>170ppm) and caesium (>8ppm) are present near the elevated lithium zones (Figure 2 and 3). Furthermore, isolated low tenor (>0.02ppm) tantalum results are present near the elevated lithium values (Figure 4). The tantalum results are considered noteworthy as the UFF+ analytical technique may subdue the response of high field strength elements. These elements are generally immobile and may not be readily adsorbed onto the <2-micron soil particles, such as clays
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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and iron oxides that constitute the sample media. For this reason, the low tenor tantalum results may provide a valuable targeting tool, as tantalum has proven synonymous with fractionated LCT pegmatites within other deposits. Further exploration is required to delineate the anomalous areas with the aim to development of high-quality drill targets.
Planning of follow up exploration is underway including infill soil and auger sampling programs at a tighter grid spacing. This will add further confidence for planning an initial drill program targeting the identified areas.
Figure 2: Rubidium geochemical results within E28/3027 and E28/3027 shown on Analytic Signal Total Magnetic Intensity geophysical image
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Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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Figure 3: Caesium geochemical results within E28/3027 and E28/3027 shown on Analytic Signal Total Magnetic Intensity geophysical image.
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Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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Figure 4: Tantalum geochemical results within E28/3027 and E28/3027 shown on Analytic Signal Total Magnetic Intensity geophysical image
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DUNDAS SOUTH ROCK CHIP RESULTS
The analytes for five rock chip samples (DSRK0026-DSRK0030) have also been returned from outcropping pegmatites within E63/2001 (Figure 5). The samples show positive geochemical indicators of fractionation with elevated tantalum, tin and niobium in Sample DSRK0027, elevated beryllium in Sample DSRK0029, and elevated rubidium and caesium in Sample DSRK0026 (Table 1). The lithium tenor recorded in these samples is again subdued, similar values were returned for prior samples as the outcropping lithologies are intensely weathered. These results further highlight the necessity for drill testing pegmatites at depth, beneath the oxidised zone. These results provide further confidence for the upcoming drill program on tenement E63/2001.
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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Figure 5: Rock chip sample sites for samples DSRK0026 to DSRK0030 within tenement E63/2001
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Table 1: Dundas South pegmatite rock chip results E63/2001
| Sample ID | Northing | Easting | Description | K/Rb (Ratio) |
Be ppm |
Cs ppm |
K ppm |
Li ppm |
Nb ppm |
Rb ppm |
Sn ppm |
Ta ppm |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSRK0026 | 6448041 | 417723 | Highly weathered pegmatite |
27.84 | 2 | 33 | 83000 | 10 | 5 | 2981 | 20 | 7 |
| DSRK0027 | 6448014 | 417733 | Highly weathered pegmatite |
50.34 | 7 | 6 | 22000 | <10 | 135 | 437 | 43 | 43 |
| DSRK0028 | 6447985 | 417736 | Highly weathered pegmatite |
101.97 | 8 | 3 | 31000 | <10 | 80 | 304 | 28 | 31 |
| DSRK0029 | 6448000 | 417756 | Highly weathered pegmatite |
94.89 | 26 | 3 | 39000 | 10 | 35 | 411 | 15 | 11 |
| DSRK0030 | 6448003 | 417754 | Highly weathered pegmatite |
41.13 | 6 | 13 | 54000 | 10 | 30 | 1313 | 14 | 17 |
The final six rock chip samples collected targeting granite lithologies present in the project area have also been returned, the results are tabulated in Appendix 3. These samples are intended to be utilised to collate a regional dataset concerning the geochemistry of the possible parental granite suites within the project area. A geochemical review of all results can now be undertaken as all samples have been returned.
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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DUNDAS PROJECT ONGOING WORK PROGRAMS
With the Dundas reconnaissance soil sampling program now finalised, the Company’s focus now moves to the Company’s inaugural drill program on tenement E63/2001 which is scheduled to begin at the start of June 2023.
Approvals to complete follow-up auger sampling on tenement E63/2000 are now advanced, these works will begin as soon as possible and may occur concurrently with the AC and RC drilling campaign on tenement E63/2001.
Additional infill sampling campaigns will now be reviewed for results at the Dundas North project area, following the positive results contained herein.
A comprehensive targeting exercise using the results of the reconnaissance sampling program will now be undertaken to extract maximum value from the 62 element suite of analytes provided by the UFF+ analytical technique. The review will include all applicable prospective commodities for the Dundas Projects including rare earth elements (REE), gold, copper, nickel, and platinum group elements (PGE).
Multiple lanthanide elements in the UFF+ suite of analytes that may be considered as pathfinders to REE mineralisation will now be subject to further interpretation. The recent success of neighbouring exploration companies in the region has highlighted the potential for REE accumulations above fertile granites within the Dundas region. A full review of the REE potential for the company’s projects will be undertaken to assess prospectivity.
DUNDAS PROJECT (LIGHTNING MINERALS 100%)
The Dundas Project area is located near Norseman in Western Australia and comprises eight tenements totalling approximately 454km[2] . Norseman has a strong history of mining dating back to 1892 and is located 190km south of Kalgoorlie. Historically, Norseman and the Dundas area has experienced mining in gold and nickel although over recent years the region has become an emerging lithium and critical minerals province with multiple discoveries and significant exploration activity. There are two project areas at Dundas:
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a) South/western tenements surrounding Liontown Resources’ Buldania/Anna lithium project, and,
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b) North/eastern tenements approximately 30km to the east of Alliance Mineral Assets’ Bald Hill lithium-tantalum mine.
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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Figure 6: Location of Lightning Minerals’ Dundas Projects
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This announcement has been approved for release by the Board of Directors. -end
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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ABOUT LIGHTNING MINERALS
Lightning Minerals is a mineral exploration company, listed on the Australian Stock Exchange (ASX:L1M) and focused on the exploration of critical minerals and lithium at its tenements across Western Australia. The Company’s flagship Dundas project is located in the prolific Dundas region of Western Australia. The Company also has other projects in Western Australia, Mt Jewell, Mt Bartle and Mailman Hill prospective for base metals and critical minerals.
FORWARD LOOKING STATEMENTS
Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.
Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
COMPETENT PERSONS STATEMENT
The information contained herein that relates to exploration results is based on information compiled or reviewed by Mr Jarrad Woodland, who is a Competent Person and a member of the Australasian Institute of Mining and Metallurgy. Mr Woodland is a full-time employee of the company. Mr Woodland has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Woodland consents to the inclusion of his name in the matters based on the information in the form and context in which it appears. Mr Woodland holds options in Lightning Minerals.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters have not materially changed. The Company also confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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APPENDIX 1: DUNDAS – JORC CODE 2012 TABLE 1 CRITERIA
The Table below summarises the assessment and reporting criteria used for exploration results for the Dundas Exploration Project and reflects the guidelines in Table 1 of The Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC 2012 Code).
SECTION 1 - SAMPLING TECHNIQUES AND DATA
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. |
• The Dundas Project soil samples are collected from below the natural surface at a depth of approximately 20cm. • Soil samples are sieved on site and the ~2mm fraction is retained for geochemical analysis. • Dundas soil sample weights are approximately 200 grams. All sieved material is collected in kraft packets (~200 grams). • The Ultrafine+ soil sampling analysis technique utilised for the Dundas Project is considered acceptable and standard industry practice. • The Dundas Project rock chip samples were collected at the natural surface. • Dundas rock chip sample weights are approximately 1-3kg. • The ‘LabWest Minerals Analysis’ - MMA-04_MS analytical technique is considered appropriate for rock chips, the target commodities and the stage of exploration works. • Nagrom Laboratories conducted analysis on DSRK0026-0030 using ICP004 method which is considered appropriate for rock chips of the target commodities. |
| Drilling techniques | Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
• No drilling results reported |
| Drill sample recovery | Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
• No drilling results reported |
| Logging | Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. |
• Soil sample sites are photographed, described, and journaled noting landform and nature of soil media. • Soil sample descriptions are considered qualitative in nature. • Rock Chip samples are photographed, described, and journaled noting mineralogy, weathering and landform to the best ability of the contracting or company geologist. • Rock chip sample descriptions are adequate given the extent of weathering. |
| Sub-sampling techniques and sample preparation |
If core, whether cut or sawn and whether quarter, half or all core taken. |
• Sample preparation for the Dundas Project soil and rock chip geochemistry program follows best practice as advised ‘LabWest Minerals Analysis’ whom is accredited to ISO17025. |
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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| If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. |
• Soil sample sizes of approximately 200gm are considered appropriate for the Ultrafine+ analytical technique. • Dundas soil samples were collected on a 400mx400m grid pattern, some minor variations to sample site locations will occur due to field complexities. • Rock Chip sample sizes are approximately 1-3kg and are considered representative and appropriate for the analytical technique. • Dundas rock chip samples were collected on a discretionary basis, due to this sample spacings are irregular and focused over areas with adequate outcrop. |
|
|---|---|---|
| Quality of assay data and laboratory tests |
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) andprecision have been established. |
• The analysis of soil samples by LabWest using the Ultrafine+ method is adequate at this early stage of exploration, this includes the assessment of bedrock under quaternary cover. • The analysis of rock chip samples by LabWest using the MMA-04_MS method is adequate at this early stage of exploration. • LabWest and Nagrom use internal QAQC process which is relevant to the stage of exploration activities. • The remaining bulk of each sample (-2mm) has been retained and the coarse fraction/pulp (if one existed) of each sample has also been preserved. |
| Verification of sampling and assaying |
The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. |
• No drilling results reported. • No twinned holes or drilling results are reported. • Primary soil and rock sample locations are collected electronically via a handheld GPS – Garmin GPSMap 62s. • No adjustments have been applied to laboratory assay results. |
| Location of data points | Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. |
• Handheld Garmin GPS instruments were used to locate the sample sites, these instruments are understood to be accurate within a nominal ±5m in the horizontal and vertical planes. • This spatial location accuracy is considered adequate for early grid soil sampling programs. • All samples were collected in the Geocentric Datum of Australia 1994 (GDA94) system. (MGA94, Zone 51) |
| Data spacing and distribution |
Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. |
• Soil samples were taken on a 400m x 400m grid, these samples spacings may require minor and infrequent variation dependent on field conditions. • Dundas rock chip samples were collected on a discretionary basis by company geologists, due to this sample spacings are irregular and focused over areas with adequate outcrop and perceived geological prospectivity. • The reporting of field observations and are not indicative of mineralisation. Further exploration work including an assessment of the current soil and rock chip sampling results and follow up drilling and sampling are required to confirm the presence of any mineralisation. • There is no known sample representivity to mineralisation at this early stage of exploration sampling. • No compositingundertaken on soil or rock chipsamples. |
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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| Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
• The strike of geological units across the Dundas project is variable. • The 400m x 400m sample spacing grid is sufficient to ensure that no specific structures or known trends of mineralisation have received biased targeting. • Rock Chip sampling is based upon the discretion of the field geologist. Sample selection contained within this report are considered representative of the immediate location at which sampling took place. No specific structures or known trends of mineralisation within thepegmatites have received biased targeting. |
|---|---|
| The measures taken to ensure sample security. | • Samples were secured in closed HDPE bags and stored at secure premises during the field campaign. • The field supervisor who supervised the soil sample collection delivered the sample packets to the laboratory. |
| The results of any audits or reviews of sampling techniques and data. | • No audits or reviews of sampling techniques have been conducted to date. |
SECTION 2 - REPORTING OF EXPLORATION RESULTS
| Criteria | JORC Code explanation |
Commentary |
|---|---|---|
| Mineral tenement and land tenure status |
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
• The Dundas Projects are located ~600km east of Perth and 20 to 50 km ENE of Norseman in Western Australia. • The Dundas Project area totals ~450km2and comprises eight granted exploration licences separated into two exploration areas – Dundas North (E28/3027 and E28/3028) and Dundas South (E15/1748, E63/1932, E63/1993, E63/2000, E63/2001, and E63/2028) • The Tenements are covered by the Ngadju Determined Native Title Claim (WCD2014/004). An agreement is in Place between the Ngadju Native Title Aboriginal Corporation RNTBC and Lightning Minerals. • The Tenements are considered ingood standingat the time of this report. |
| Exploration done by other parties |
Acknowledgment and appraisal of exploration by other parties. |
• The Project area has been explored predominantly for Gold and Nickel by various prior parties. • More recent exploration has included a focus on Lithium via explorers such as Matsa Resources (2008-2018), West Resource Ventures (2018 – 2019), and Liontown Resources (2018-2020). • The result of this work is described in numerous publicly available Geological Society of Western Australia publications. • Review of the considerable historic exploration activities is ongoing; data is being collated into company databases as per industrystandard data collectionpractice. |
| Geology | Deposit type, geological setting and style of mineralisation. | • No known mineral deposits occur within project tenure. • There are publicly reported occurrences of Lithium – Caesium-Tantalum (LCT) pegmatites within acceptable proximity to the Dundas Project exploration tenure. • The Dundas Project is located at the southern-eastern end of the Norseman-Wiluna Belt within the Archaean Yilgarn Craton. The project area sits adjacent to the Jerdacuttup Fault which represents the boundary or the Archaean Yilgarn Craton with the adjacent Proterozoic Albany-Fraser Province. |
| Drill hole Information | A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: |
• No drilling reported |
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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oeasting and northing of the drill hole collar oelevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar odown hole length and interception depth, ohole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. |
||
|---|---|---|
| Data aggregation methods |
In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. |
• No levelling of the raw geochemical data was undertaken. • Images have been generated using QGis software. • No metal equivalent values are reported. . |
| Relationship between mineralisation widths and intercept lengths |
These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect(eg ‘down hole length, true width not known’). |
• Any relationship between reported geochemical results and potential mineralisation is unknown at the time of the report. |
| Diagrams | Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
• Appropriate two-dimensional plans have been included in the body of this announcement; these plans suitably represent the nature of surface geochemical sampling. |
| Balanced reporting | Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
• Representative reporting of soil results is shown in Figure 1, 2, 3, and 4 of the above report. • Representative reporting of rock chips is shown in Figure 5 and Table 1 of the above report. • Assay data for Dundas North soil samples with greater than 80 ppm lithium is shown in Appendix 2 • A subset of the raw assay data for rock chips is shown in Appendix 3, this includes samples taken within granites and rocks of unknown composition for exploration investigation activities. |
| Other substantive exploration data |
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
• All meaningful data and relevant information has been included in the body of the report. |
| Further work | The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
• Field validation of elevated Lithium results is planned by company geologists. • Infill soil and auger sampling campaigns will be considered to infill the 400m x 400m sampling grid to a higher resolution. • Planning of follow up Aircore, Reverse Circulation or Diamond Drilling of Geochemical targets remains under consideration. |
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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APPENDIX 2: DUNDAS NORTH SOIL DATA FOR RESULTS >80PPM LITHIUM
| Project | Sample **Type ** |
Sample ID | Easting (MGA94_Z51) |
Northing (MGA94_Z51) |
Caesium (ppm) |
Lithium (ppm) |
|---|---|---|---|---|---|---|
| Dundas North | Soil | DN00191 | 456398 | 6527597 | 6.31 | 83.5 |
| Dundas North | Soil | DN00192 | 456798 | 6527600 | 6.65 | 81.4 |
| Dundas North | Soil | DN00193 | 457197 | 6527597 | 6.03 | 83.8 |
| Dundas North | Soil | DN00490 | 459998 | 6518801 | 7.67 | 83.5 |
| Dundas North | Soil | DN00522 | 459193 | 6517991 | 6.1 | 81.4 |
| Dundas North | Soil | DN00619 | 464403 | 6516402 | 8 | 83.7 |
| Dundas North | Soil | DN00620 | 464802 | 6516400 | 8.07 | 94.9 |
| Dundas North | Soil | DN00630 | 458001 | 6515999 | 8.49 | 85.2 |
| Dundas North | Soil | DN00638 | 461204 | 6516001 | 7.48 | 89.7 |
| Dundas North | Soil | DN00640 | 462005 | 6515998 | 7.12 | 90.5 |
| Dundas North | Soil | DN00641 | 462399 | 6516000 | 5.61 | 108 |
| Dundas North | Soil | DN00642 | 462799 | 6515999 | 6.18 | 96.6 |
| Dundas North | Soil | DN00643 | 463202 | 6516000 | 5.56 | 92.5 |
| Dundas North | Soil | DN00644 | 463605 | 6515998 | 7.97 | 95.9 |
| Dundas North | Soil | DN00645 | 464002 | 6516001 | 8.88 | 99.4 |
| Dundas North | Soil | DN00646 | 464403 | 6516002 | 9.16 | 104 |
| Dundas North | Soil | DN00647 | 464801 | 6516003 | 13.6 | 115 |
| Dundas North | Soil | DN00691 | 460799 | 6515200 | 4.21 | 87.1 |
| Dundas North | Soil | DN00700 | 464401 | 6515200 | 5.42 | 80.5 |
| Dundas North | Soil | DN00701 | 464800 | 6515201 | 6.75 | 97.1 |
| Dundas North | Soil | DN00723 | 461200 | 6514801 | 4.92 | 94.4 |
| Dundas North | Soil | DN00736 | 466397 | 6514799 | 9.52 | 82 |
| Dundas North | Soil | DN00770 | 465993 | 6514413 | 9.37 | 86.2 |
| Dundas North | Soil | DN00771 | 466388 | 6514404 | 11.8 | 101 |
| Dundas North | Soil | DN00794 | 461599 | 6513997 | 7.96 | 82.6 |
| Dundas North | Soil | DN00804 | 465597 | 6514015 | 14.4 | 98 |
| Dundas North | Soil | DN00827 | 452800 | 6513600 | 6.99 | 91.1 |
| Dundas North | Soil | DN00827 | 460800 | 6513599 | 6.99 | 91.1 |
| Dundas North | Soil | DN00828 | 461201 | 6513601 | 8.57 | 80.6 |
| Dundas North | Soil | DN00835 | 463996 | 6513601 | 9.06 | 86 |
| Dundas North | Soil | DN00838 | 465189 | 6513607 | 17.5 | 85 |
| Dundas North | Soil | DN00839 | 465596 | 6513599 | 16.8 | 104 |
| Dundas North | Soil | DN00840 | 465994 | 6513600 | 14.9 | 147 |
| Dundas North | Soil | DN00841 | 466394 | 6513601 | 10.5 | 86 |
| Dundas North | Soil | DN00862 | 460801 | 6513199 | 8.23 | 94.4 |
| Dundas North | Soil | DN00914 | 466005 | 6512804 | 11 | 86.4 |
| Dundas North | Soil | DN00953 | 465992 | 6512395 | 7.9 | 85.3 |
| Dundas North | Soil | DN00954 | 466390 | 6512399 | 6.8 | 83 |
| Dundas North | Soil | DN00992 | 465997 | 6512004 | 6.68 | 89.2 |
| Dundas North | Soil | DN01015 | 459600 | 6511600 | 7.7 | 87.9 |
| Dundas North | Soil | DN01029 | 465198 | 6511600 | 8.31 | 83.5 |
| Dundas North | Soil | DN01030 | 465600 | 6511600 | 8.69 | 120 |
| Dundas North | Soil | DN01044 | 455597 | 6511200 | 5.49 | 83.8 |
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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==> picture [182 x 38] intentionally omitted <==
| Dundas North | Soil | DN01052 | 465198 | 6511201 | 7.86 | 107 |
|---|---|---|---|---|---|---|
| Dundas North | Soil | DN01054 | 466003 | 6511199 | 7.93 | 88.4 |
| Dundas North | Soil | DN01087 | 454401 | 6510403 | 5.52 | 98.9 |
| Dundas North | Soil | DN01090 | 455598 | 6510404 | 7.03 | 87.3 |
| Dundas North | Soil | DN01093 | 456800 | 6510401 | 9.38 | 83.1 |
| Dundas North | Soil | DN01096 | 464396 | 6510402 | 9.76 | 109 |
| Dundas North | Soil | DN01098 | 465198 | 6510400 | 7.68 | 95 |
| Dundas North | Soil | DN01101 | 466401 | 6510402 | 6.36 | 83.8 |
| Dundas North | Soil | DN01119 | 464402 | 6510004 | 7.06 | 92.9 |
| Dundas North | Soil | DN01133 | 454400 | 6509602 | 6.67 | 80.5 |
| Dundas North | Soil | DN01139 | 456798 | 6509605 | 7.85 | 83.2 |
| Dundas North | Soil | DN01140 | 457199 | 6509600 | 8.56 | 85.6 |
| Dundas North | Soil | DN01142 | 464400 | 6509599 | 7.13 | 111 |
| Dundas North | Soil | DN01143 | 464805 | 6509599 | 5.89 | 114 |
| Dundas North | Soil | DN01144 | 465204 | 6509603 | 6.75 | 127 |
| Dundas North | Soil | DN01174 | 451999 | 6508802 | 5.86 | 81.2 |
| Dundas North | Soil | DN01200 | 454401 | 6508402 | 8.02 | 87.5 |
| Dundas North | Soil | DN01201 | 454803 | 6508402 | 12.2 | 85.5 |
| Dundas North | Soil | DN01207 | 457187 | 6508407 | 9.62 | 84.3 |
| Dundas North | Soil | DN01215 | 452399 | 6507997 | 6.03 | 81.9 |
| Dundas North | Soil | DN01216 | 452798 | 6507996 | 5.99 | 101 |
| Dundas North | Soil | DN01219 | 454002 | 6508000 | 6.07 | 88.3 |
| Dundas North | Soil | DN01220 | 454403 | 6507999 | 5.76 | 80.8 |
| Dundas North | Soil | DN01221 | 454802 | 6508001 | 7.78 | 82.9 |
| Dundas North | Soil | DN01225 | 456401 | 6508002 | 8.1 | 88.1 |
| Dundas North | Soil | DN01233 | 451600 | 6507596 | 6.53 | 80.2 |
| Dundas North | Soil | DN01235 | 452395 | 6507600 | 6.86 | 112 |
| Dundas North | Soil | DN01236 | 452795 | 6507598 | 6.59 | 102 |
| Dundas North | Soil | DN01241 | 454800 | 6507600 | 8.18 | 86.8 |
| Dundas North | Soil | DN01242 | 455198 | 6507602 | 9.57 | 87.9 |
| Dundas North | Soil | DN01282 | 452008 | 6506838 | 7.57 | 82 |
| Dundas North | Soil | DN01286 | 453598 | 6506803 | 7.06 | 89.2 |
| Dundas North | Soil | DN01288 | 454397 | 6506804 | 6.63 | 90.5 |
| Dundas North | Soil | DN01312 | 454405 | 6506398 | 5.89 | 91.9 |
| Dundas North | Soil | DN01313 | 454797 | 6506398 | 9.06 | 127 |
| Dundas North | Soil | DN01315 | 455580 | 6506409 | 13.2 | 81.5 |
| Dundas North | Soil | DN01333 | 453199 | 6506000 | 5.93 | 85.3 |
| Dundas North | Soil | DN01356 | 452796 | 6505598 | 5.75 | 109 |
| Dundas North | Soil | DN01357 | 453200 | 6505598 | 8.55 | 84 |
| Dundas North | Soil | DN01361 | 454799 | 6505597 | 10.2 | 90.6 |
| Dundas North | Soil | DN01380 | 452806 | 6505192 | 9.6 | 98.4 |
| Dundas North | Soil | DN01412 | 456000 | 6504797 | 11.7 | 98.2 |
| Dundas North | Soil | DN01433 | 454797 | 6504402 | 12.8 | 91.3 |
| Dundas North | Soil | DN01439 | 457191 | 6504408 | 9.08 | 84.9 |
| Dundas North | Soil | DN01442 | 448798 | 6504001 | 7.6 | 83.6 |
| Dundas North | Soil | DN01445 | 449995 | 6503998 | 6.55 | 82.9 |
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806
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==> picture [182 x 38] intentionally omitted <==
APPENDIX 3: DUNDAS SOUTH GRANITE ROCK CHIP DATA
| Sample ID | Easting (MGAZ51) |
Northing (MGAZ51) |
Description | Be ppm | Cs ppm | Li ppm | Nb ppm | Rb ppm | Sn ppm | Ta ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| DSRK0022 | 423145 | 6461992 | Moderately weathered Granite | 2.41 | 8.5 | 45 | 9.3 | 331 | 3.5 | 1.01 |
| DSRK0023 | 429464 | 6455942 | Moderate to strongly weathered Granite | 1.42 | 1.2 | 1.6 | 1.5 | 61.8 | 0.6 | 0.06 |
| DSRK0024 | 428286 | 6453716 | Moderate to strongly weathered Granite | 2.01 | 6.3 | 24.9 | 2.9 | 113 | 1.6 | 0.18 |
| DSRK0031 | 428230 | 6453549 | Moderate to strongly weathered Granite | 2.17 | 2.8 | 18 | 3.4 | 87.4 | 1.6 | 0.65 |
| DSRK0032 | 427965 | 6454006 | Moderate to strongly weathered Granite | 3.95 | 15.3 | 13.1 | 20.3 | 534 | 1.8 | 6.54 |
| DSRK0033 | 429342 | 6455517 | Moderately weathered Granite | 2.11 | 3.4 | 6.5 | 1.5 | 82.8 | 0.9 | 0.09 |
Level 6, 505 Little Collins Street, Melbourne VIC 3000 | [email protected] | www.lightningminerals.com.au | (08) 9429 8806