I think Peter is also being paid consultation fees and paid for the analysis through his company. I will check on it but always paid a big dollar. After this report and drill program, I think we need a geo. Obviously missed the mark all around here if looking for high grades. More like testing the boundaries. If you convert these results back to PPM they are better than RR1 announced which gave them a push from .5 to 1.5c.
Also noticed they gave us the %TREO and (%)NdPr:TREO (neodymium (Nd) and praseodymium) plus added % P2O5 (phosphate) here. no talk of Niobium except when discussing Mt Weld. Previously they gave us the % TREO and %Nb2O5 (Niobium pentoxide) and 45% NdPr:TREO.
Phosphates can hold large quantities of REE. I refer to the following announcement from RareX Limited.
"Cummins Range Resource soars to 519Mt at 0.32% TREO, 4.6% P2O5 becoming Australia’s largest undeveloped rare earths deposit"
Within the large phosphate resource are significant tonnes of high-grade TREO
RareX Limited (ASX: REE) currently trading at 3c (@683,333,333 shares listed)
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://wcsecure.weblink.com.au/pdf/REE/02660886.pdf
I also see they have listed resource modeling to follow. There was meant to be a maiden JORC released before year's end. I wonder if this will still come.
Further work includes rock chip sampling again but no indication of when. This should be now seeing they have completed everything else for the year. DRE would be straight onto the next round.
GD
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