Correction Goldy - you can mine 31cm veins if the grade is high enough - of course incurring significant dilution.
The minimum mining width using mechanised mining techniques is 2.5m.
In this case, the dilution factor would be 806% - using an uncut grade, the mining grade for that particular block would be 31.9g/t.
However, they would need confirmed (read well drilled) either stacked lodes, or significant strike extent to warrent chasing it.
I would agree with all your other points though - looks like TAM are clutching at straws
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