MCR (ASX) Is lithium the next focus?

Originally posted by eshmun ↑

If a mineral deposit was substantially outcropping, ie forming a significant hill and the geologists could infer with reasonable certainty that the entire hill was composed of the same material then the JORC2012 code might allow (and I emphasise might, I haven't read the code closely enough) that a mineral resource could be determined by taking regular and close enough spaced rock chip samples across that outcrop/hill (well at least this was done in the old days for some styles of deposits). Baring a situation like this the only way to describe any mineral deposit as a resource is to drill it with sufficient density.

Your statement that "They seem to be sitting on a very lucrative lithium resource and the drill bit will not lie." has no basis whatsoever in my opinion. They aren't sitting on any lithium resource presently, let alone a very lucrative one.

The term lucrative implies being economically exploitable and not only that, it implies something that is also significantly profitable as well. A company can't make inferences about the economic exploitability of a resource until they elevate that resource to a proven reserve, the highest category under the JORC code below Probable, Measured, Indicated and Inferred.

The company doesn't even have a lithium resource in any JORC resource category so your statement couldn't be anywhere further from the truth at this early stage of exploration.

As far as my posts on KDR go they contain facts as well as my opinion, you can take them or leave them, no one is forcing anyone to do anything. Where comments are my opinion I generally end a sentence with IMO. These are discussion forums and if I feel like discussing a stock I have every right. In respect of ESR the story is just unfolding now. If you look through all my posts on ESR I've never suggested that a resource will result at Mt Edwards, I've only ever said that having the thick pegmatite intersections in those two holes (3 holes) means that the company is starting exploration from a more advanced point. Unfortunately subtleties with posting styles on hot copper are often ignored. I try to provide balanced, unexaggerated and factual posts to the best of my ability and all the opinions I express are my honest opinion. No one is perfect and no one is right all the time. If others would do the same we could all benefit. Sorry if I've offended you but maybe thinking about posting in a more balanced way could help promote discussion rather than the hostility that seems to be pervading this site lately. I'm no longer posting on the gold forum because of the trolling and aggression and if I have to spend my whole time defending myself against false accusations of downramping I'll soon just stop posting on this forum altogether as it just wastes my time. Esh

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No need to go Esh,
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