Each one in plain English, with the numbers worked through for a shareholder.
5 Apr 2018resource reserve update▲ GoodMajor
Wolfsberg PFS complete: Accelerated case pre-tax NPV8 A$441.9M (Base case A$342.7M), lithium hydroxide 10,129tpa, using only the 6.3Mt measured and indicated resource. DFS to start in July, aiming at about 800,000tpa mining rate with a bigger resource.
29 Mar 2018drilling result▲ Good
Zone 2 drilling finished 27 March 2018: five holes, 1,329m, all hitting pegmatite, one 10.0m true width (widest in Zone 1 was 5.5m). Assays due mid-April. PFS due this week; 28-hole Zone 1 programme (11,330m total) awaits permits.
5 Feb 2018drilling spud▲ GoodMajor
Zone 2 drilling restarts 5 February 2018, funded by the December raise: six remaining holes (1,250m) due by early April. Earlier funding shortage had stopped it after three of nine holes. Aim is to lift measured and indicated resources; PFS still due end Q1.
7 July 2017resource reserve update● Neutral
At ASX's request, the company adds a summary of how the 3 July resource was estimated. The extra 4.68Mt is inferred only, extrapolated down dip from four deep holes. No change to the resource figures.
3 July 2017resource reserve update▲ GoodMajor
Wolfsberg resource rises to 10.98Mt at 1.0% Li2O, adding 4.68Mt inferred at 0.78% in Zone 1 after deep drilling. Contained lithium up 50%. Existing 6.3Mt measured and indicated at 1.17% is unchanged.
28 June 2017drilling result▲ GoodMajor
Assays confirm the Zone 2 veins are high grade: 3.38m at 1.45% Li2O in P15-5 and 3.99m mineralised at 1.26% Li2O in P15-6, with up to 1.92% in places. Supports the idea Zone 2 could mirror Zone 1.
9 June 2017drilling result▲ GoodMajor
First two Zone 2 holes hit wide spodumene-rich pegmatite, up to 3.51m (P15-5) and 5.38m (P15-6) true width, which the CEO says beat expectations. Assays are due mid-June. Contrasts with the earlier Zone 2 hole that hit no pegmatite.
31 May 2017drilling result▲ GoodMajor
Final two deep holes confirm veins to about 1250m above sea level, with 2.01% Li2O over 2.03m of veins in amphibolite near surface. Resource upgrade now due June 2017, slipping from end May.
18 Apr 2017drilling result▲ GoodMajor
First two deep holes confirm veins extend to depth: 4.33m at 1.9% Li2O in amphibolite and 2.71m at 0.73% in mica schist. Resource upgrade expected by end May 2017. This follows the earlier 6.3Mt resource.
10 Mar 2017drilling progress report▲ Good
First of four Zone 1 deep holes (P15-11, 515.9m) is complete and hit pegmatite; assays expected early April. Second hole finished, third started 7 March. Zone 2 drilling waits until all deep results are in.
20 Dec 2016drilling progress report▲ Good
Progress update: drilling paused 22 December and restarts 9 January, with all permits now received, including Zone 1 deep holes. SRK engaged for mine design (seven-week first phase, then 12 weeks to PFS level); marketing consultant engaged; sorting tests encouraging.
21 Nov 2016resource reserve update▲ GoodMajor
Resource upgraded under JORC 2012 to 6.3Mt measured and indicated at 1.17% Li2O (2.86Mt measured at 1.28%, 3.44Mt indicated at 1.08%): tonnes up 75%, contained lithium up 33%. Replaces the 3.7Mt inferred figure; drilling continues to extend it.
16 Nov 2016resource reserve update▲ GoodMajor
Company says twin-hole and channel data show the old Minerex data is not significantly different, so it can be used in a JORC 2012 resource model. Upgrade is described as imminent; the figure is not yet released, and the end-October target has slipped.
7 Nov 2016drilling result▲ Good
Twin-hole drilling assays confirm high-grade veins, with amphibolite intersections up to 3.35% Li2O and mica schist up to 4.26m at 1.44% Li2O. The company says the results verify the old Minerex data; upgraded resource still to come.
2 Nov 2016drilling result▲ Good
Channel sampling of underground veins returned averages of 1.80% Li2O (Vein 2.1, 140m), 1.82% (Vein 3.1, 145m) and 1.31% Li2O in mica schist (Vein 7, 40m). Supports the old Minerex data; the resource stays at 3.7Mt inferred until the upgrade.
20 Oct 2016drilling scheduled▲ GoodMajor
Surface drilling begins at Wolfsberg: four deep Zone 1 holes (1,760m) and nine Zone 2 holes (1,750m), plus 300m of trenching, over about 16 weeks. The Zone 2 permit is received; Zone 1 awaits a written decree. Upgraded resource still expected early November.
20 Sept 2016drilling result● Neutral
Wolfsberg verification drilling done: seven twin holes totalling 828m and 95 channel samples over 190m. Assay results are due mid-October, with an upgraded JORC resource expected by end October or early November 2016. Results pending.
19 Nov 2012drilling result▲ GoodMajor
All Phase II assays are in. New hits include 12m at 6.61 g/t gold from 10m and 3m at 8.05 g/t, plus the earlier 3m at 92.1 g/t. Gold also found in greenstone schist, not just gneiss. CSA Global structural study and Stage 3 drilling are next.
28 Sept 2012drilling result▲ GoodMajor
First 40% of Phase II assays: 3m at 92.1 g/t gold from 41m in PFRC120, including 1m at 271 g/t. Other intersections were modest (e.g. 3m at 4.94 g/t). Remaining results due in two to four weeks.
6 Sept 2012drilling result● Neutral
Phase II drilling finished: 5,326m of RC in 51 holes and 6 diamond holes totalling 1,540m. Some core showed traces of visible gold. Assay results are expected by end of September 2012.
13 July 2012drilling spud● Neutral
Phase II drilling has started with diamond core drilling, north and east of Stage 1. The program is stated as 6 diamond holes and 5,000m of RC, well below the 15,000m RC quoted two weeks earlier.
2 July 2012drilling scheduled▲ GoodMajor
Drilling contracts signed for Phase II: 6 diamond holes and a 15,000m RC program (initial 64 holes), July to September. Malcolm Day, managing director of largest shareholder Delecta, joins as non-executive director.
10 Aug 2011drilling scheduled▲ Good
Stage 2 plan firmed up: 8,000-10,000m of RC drilling to about 60m depth, directly north of Stage 1. Preparation starts 1 September and drilling 1 October 2011, a month earlier than the 15 July timing.
15 July 2011drilling scheduled▲ Good
Stage 2 RC drilling north and east of Stage 1 is planned, with field preparation from 1 August and drilling from 1 November 2011, subject to rig availability. Backed by soil geochemistry and re-reading of old drilling that sampled only part of each hole.
14 June 2011drilling result▲ GoodMajor
Stage 1 finished with all 69 holes assayed: 81% hit significant gold, including 10m at 1.8g/t and 2m at 50.5g/t. Further drilling north and east is planned. The company says widths suit bulk selective mining, and a resource statement is expected after Stage 2.
13 May 2011drilling result▲ GoodMajor
Stage 1 assays from 43 of 69 holes include 2m at 50.5g/t, 2m at 19.0g/t and 10m at 1.8g/t, mostly shallow. A JORC resource may follow the final results. Also announced: a proposed placement of up to $1.2M at 20c.
4 Apr 2011drilling spud▲ GoodMajor
Drilling began at the wholly owned Paynes Find Project: an initial 3,500m reverse circulation programme to 50-80m depth around the Carnation/Blue Heaven old workings. Taking about 12 weeks, with first results expected from late April 2011.
17 Mar 2011drilling scheduled● Neutral
Drilling start slipped from 18 to 28 March 2011 because of storm damage to local infrastructure. The mines department approved a larger 5,000m programme, and a 15-person exploration camp is due by 25 March.
25 Feb 2011drilling scheduled▲ Good
Murchison Exploration was engaged for a 3,500m reverse circulation drilling programme starting 18 March 2011, testing a 500m x 400m area to about 50m depth. Assay results are expected mid-April 2011.
