Ann: Completion Of First Drill Hole At Turesi, page-42

The top 36m saprolite clay also contains high grade lithium. We know this from high grade samples of the trenches. The lithium is there in the saprolite as well.

The main task is here to find the pegmatite body. We have already found the pegmatite columns (stringers) in this first hole. They are NOT mentioning the thickness of these pegmatite stringers in that 131m portion of thickness. They might contain high spodumene and be thicker than 10m which other lithium explorers are proudly announcing when they find 10m stringers.

This is a greenfield exploration, no prior drilling or no sampling was done in the area before. GPP is doing all these atm. See Pilbara Minerals drilling on the graphic above. That area was a brownfield area and being mined for tantalum long time. But they started with shallow drilling from the far part of the pegmatite prospect and find the main body after many holes drilled. Same for Kidman Resources; their area were drilled before them and also by KDR itself for gold exploration. KDR have found the spodumene in the cores when they checked the core archives. Then they started drilling.

So, being panicked in the first hole without any strong facts and information is not my thing. And I am surprised why people are buying these kind of greenfield stocks if they are going to be panicked in the first hole.

I will give you one of the best examples of an exploration story. I would recommend everyone to read it and try to understand the nature of this exploration business.

"The psychology of exploration – those that talk about it, those that back it and those that do it"

"with access to prospective unexplored ground, the cash to explore it, the people to do it, with a unified board and supportive major shareholders, able to pursue its strategic objectives rather than being beholden to short term market expectation, & do or die trying"

It's about Siruis Resources (ex SIR.ASX). They were drilling for base metals (nickel) in Fraser Ranges (WA) in Sept.2011. The 6 hole drill program started with a lot of concerns,and nothing happened until the last hole. The had only $200k in the bank when they were drilling the last hole without much hope.

When they were drilling the last hole at the late hours of the last day, they hit the far edge of a huge world class nickel-cobalt deposit (cobalt was not that important at the time) which is called Nova and Bollinger deposits.

Their stock price went from 4.7c to $2.5 in just two months (then went to $5 later). The company was taken over $for 1.8b a few years later.

However we should keep in mind that there are stories about the opposite situation of SIR story. The stock may go to zero. I would get a position in a risky stock which would not make me poor or panicked when things go wrong.





The brief story form their presentation;