DRILLING CONFIRMS SPODUMENE LITHIUM DISCOVERY AT ATOMIC THREE...

DRILLING CONFIRMS SPODUMENE LITHIUM DISCOVERY AT ATOMIC THREE

HIGHLIGHTS

• Results of the first two drill holes at Atomic Three confirm a high–grade lithium discovery
• Results included 2.48% Li2O over one metre in MERC0002
• POW amended to allow the drilling of an extra six holes at Atomic Three
• Drilling also completed at Inco Boundary, Munda North, Kingmaker, and is in progress at Munda West

My take on today’s news:

With less than 10% of the current drill program completed this is a very early but good news release, as it confirms the indicated high-grade lithium from surface rock chip sampling occurs at depth.

Obviously they haven’t hit the motherlode we’d like to see, but just remember this is news on only the first 2 holes (252m of drilling) so far. Based on these early results from the Atomic Three prospect a further 6 holes for 450m drilling will seek to determine if there is a thicker and / or higher grade zone of the pegmatite developing at depth somewhere along the strike length of the target body.

It’d be unrealistic to expect massive news on only 2 holes, so let’s wait and see what the further 6 holes at Atomic Three brings along with the 17 holes completed or in progress at the other prospects (for approx 3000m total drilling).

With further drill test news imminent I think the FOMO factor will keep interest high.