The condition is > 350ppm LCE to get 25M shares additionally In order to get the second tranche of 25 million performance shares there need to be proof about 2 million tonnes at greater than or equal to 350ppm lithium carbonate equivalent (LCE) at the Laguna Verde properties within six months and based on drilling results already conducted by Ultra Lithium in late 2022/early 2023.
Up until now these are the drilling results in the Laguna Verde according to the corporate presentation Q1 2023:
> two rounds of brine surface sampling in 2017 indicate a high grade brine discovery with values of lithium in the range of 14 ppm to 1,270 ppm,
> The results indicated lithium values increase from 391 ppm to 7,370 ppm with a recovery of 57.45% lithium through simple evaporation.
> the results indicated lithium values increase from 391 ppm to 7,370 ppm with a recovery of 57.45% lithium through simple evaporation.
> the Preliminary results of brine samples indicated up to 417 ppm lithium.
> Round One of assay results found lithium (Li) values were in the range of 386 ppm to 417 ppm with an average of 398 ppm.
> Round Two of assay results found lithium (Li) values in the range of 256 ppm to 354 ppm with an average of 324 ppm.
> two assays showed results of brine samples averaged at 398 ppm and 324 ppm lithium
CONCLUSION
I assume based on the preliminary drilling results it's not to difficult to meet the conditon of at least 350ppm LCE to get the second tranche 25 million Power shares