Neo Lithium Corp V.NLC

RE:RE:NR

[tiger6301]

Hi S-S,

I agree with your assessment, but I expected the hole would be at least 300 to 400m deep.  I talked with Waldo, and he mentioned about difficulty of the drilling, and I made a few suggestions (my company does all sort of drilling). The market seems agree with me, and the NR does not exceeds the expection.

I like the L-T pumpig test result, the draw down was only 10 cm at a location 10 meters away, and that indicates the reservoir's rock porosity is so high that the water feeding the well freely.  Also no change or slightly increase in grade.

tiger

supersceptic wrote: There was a very good chance that 100M would be the floor of the deposit. Previous seismic, drilling showed that high grade zone is shallow compare to low one.

Now they are talking about increasing high grade zone's depth by whooping 60% at the time, when increase of reserve is secondary goal.

I am not disappointed at all. Most important part was puming test. One thing is drill and sample that give the idea of what might be, l-t pump shows what is ACTUALLY there. Would after 10 days hole get dry or grades would decline - we would have serious problem and that would not be a huge surprise, number of deposits failing FS related tests.

Now, another risk IS ELIMINATED. Sure, I would love to see 300M down full of Li with 3K grades or 4th aquifier. Still, we may see FS with 1.5m in reserves  -  5 extra years of puming high grade alone. If not, minimum we will see FS that resemble PFS. Pump test could not bring reserves up, but they COULD BRING THEM DOWN, did not happened.

Let's see how market react this week. I expect some profit taking, but this news can have some effect too.

Next stop, EIC submission and then Pilot plant result.