RE:RE:RE:RE:DD Very activeSpringinhetved gave us a good view of what to expect on the 3rd of october. Here is what he had to say:
Just went on their web-site to refresh my memory. Hidden lake is spodumene pegmatites. From old results the Lu #12 dyke has shown 3.01%Li2O which is excellent. So if the samples they have taken are above the 2% Li2O we are in business. Especially if the 3 new pegmatites they discovered also show up with such good values!
We are expecting results from detailed sampling from LU D12, HL1, HL3, and HL4. And a total of 10 pegamatite grab samples from other pegmatites identified.
The 10 grab samples or just surface samples and will not tell us a lot. They will mainly tell is if the geologist knows his spodumene or not :) in that he selected the "best" samples with the largest lithium content.
But the detailed sampling (with sawing) of the 4 main areas is what will "make or break" us. If those results are at the 2% level Li2O it will be party time!
If the results are good I expect our MC to go to at least 20m$, i.e. SP of about 0.46. We can not expect much more from surface samples I think. We will have to drill to see if there it will be economically feasible to mine the Lithium. For that we will need a resource of at least 2MT of Li2O. That can only be profen with drilling for which we will then need some financing.....