Ann: Drilling Update, page-57

These are the only statements that matter to me in the announcement:

"These values are of a lower order than those recorded in C-01-19 but are still expected to return lithium values albeit at lower levels."

"within a thick sequence (~231m) of conglomerates (105m thick in C-01-19). C-02-19 has a layerof ignimbrite to 167m (165m in C-01-19)"

"Hydrothermal activity proximal to C-02-19 may be diluting the aquifer at this location."

"Fumaroles at surface are onlyobserved to exist in the proximity to C-02-19 (CSMAT line 4)."

"The tectonicbasin in this area was found to be much deeper (632m vs 310m) encountering a very thick sequence ofsands and clays at depth (to 401m) before entering interbedded breccia and conglomerates (to 632m)"

When you consider how simple to understand some previous announcements have been, this one is abit of a song and dance.