NLC High Impact NewsThis news really have high impact for NLC's resource size & its future. As you may remember that I have strongly recommend NLC doing more drilling, and many here didn't agree with me.
Their current high grade resources (cut-off 800 mg/L) are:
M&I: 745,000 tons LCE at 1007 mg/L;
Inf: 186,000 LCE at 1239 mg/L
Assuming the above resources are only located around the rim of the North Lake, and from 0 to 100 meters depth.
Assuming the same surface area, and everthing is equal, then from 100 to 360 meters; the ADDITIONAL resources could be:
M&I: 1,937,000 tons LCE;
Inf: 484,000 LCE.
Since the new hole is 250 meters to the east of the lake, the resource area is extended to the east 250 meters, so the final HIGH Grade resources could be:
M&I: 3.2 millon tons LCE;
Inf.: 0.8 millions tons LCE
Total: 4 millions tons high grade LCE, increasing from initial 0.93 million tons LCE.
The above are the resource, so the reserve will be incraesd as well.
I like the following facts:
Deep up to 362 meters, NLC may go even deeper;
High pumping rate: 40 cubic meters per hour, never see anyone pumping at this rate;
Coarse sand from 264 to 362 meters, high porosity or more brine in the sand, and more yield.
Above is just rough estimate, looking for the next two news:
1 Litium Grade, should be similar to hole 24 & 25;
2 Resource estimate.
After the resource update, based on LAC's presentation, NLC's resource should jump to NO. 2, reaching 10 million tons total, just behind LAC's 19.9 MT LCE.
Hold long and strong, good luck to all!
tiger