I think you're right...Grades in the Athabasca Basin are on a completely different scale compared to say Namibia or Australia. That said, the Rabbit Lake deposit (now mined out) had a resource of 5.84 Mt @0.32% U3O8, and also the JEB deposit (also mined out) was graded at 0.5% U308.
But from what I can tell, those kinds of grades are outliers in the region – anything <1% seems kinda low (though not necessarily uneconomic) for the Basin. Below graphic (via here) is a bit old, but you get the idea in terms of the grades for the U mines/deposits in the area (the average is ~2%, and some as high as 26.3%...) [*For more recent data, see also some of Nexgen's drill results and grades for its Arrow deposit, and Dennison's for Wheeler Hill/Phoenix]
Anyway, honestly hope I've got this wrong, but just based on the surrounding deposits, the results 92E announced today unfortunately do seem quite low imo
92E Price at posting:
38.0¢ Sentiment: Hold Disclosure: Held
