General discussion, page-16291

Scanning the posts above I notice there are many about the upcoming MRE.

WA1 have a team of experts who will spend a huge effort to get this out so what is below is just a few minutes of musings which may or may not make any sense.

This is a schematically annotated data dump from my Google Earth drill collars for Luni.

• The heavy white line is the rough outline of the higher grade zones.
• Obvious high grade zones are 1 and 2 which are probably connected but have not been the focus of drilling in 2024 that it was for 1 & 2 (magenta hexagons most recent reported drilling that will make it into the MRE estimates).
• The NW extension A is real but probably much narrower than shown above. Likely to extend to ENR's Emily deposit (14Mt c 15% at 0,c5% cutoff) along a dyke like structure. A will add a limited amount to the resource -

  	Hole ID	Column1	From (m)	To (m)	Interval (m)	Nb_{2} O_{5} (%)	TREO (%)
  1	LURC0012		63	163	100	1.86	0.69
  2	LURC0012	incl	63	79	16	4.35	1.9
  3	LURC0012	incl	104	105	1	1	0.55
  4	LURC0012	incl	112	157	45	2.24	0.61

• B is open to the east but no drilling has been done so probably won't impact the MRE unless recent work allows them some leeway to extend, or not.
• C IMO insufficient work to add to the MRE although there are some high grade hits.
• As some have said WA1 have been very methodical about their approach and have kept drilling very focused on infill and close extensional work which will allow for an MRE that has a good percentage of indicated (and above?) to be included in the resource - particularly areas 1 & 2 IMO.
• Drilling has not greatly expanded the area of the 2024 MRE IMO so the area considered may not have changed much. There is likely to be some change in the depths involved though quantizing that is way beyond me. The nett result could be some increase in the 0.25% cut off volume though perhaps not as much as some hope for. The X is common to both this image and roughly shown above.
• Grade? another difficult aspect. I do agree with estimates above that the 50 Mt of 2% from last year's MRE will be re rated to zones of 3-4% in the 20-40 Mt range that would be excellent starter pits. Comparing it to CBMM average 2.5% grade may ultimately be the case rather than much better - Araxa, and most mines, do end up averaging out the super high grades with mining.
• Cut off grades play an important role in MRE's. The 0.25% gave 200 Mt at 1% in 2024. Maybe 250 Mt at 1+ for this year. 1% 53 Mt 2.1% to 60-70+- around the same grade with core zones 20-40 Mt at 3+%. Just for fun based on simple comparisons and wild imagination. Phosphate and REE's as possible value adders.
• HOPEFULLY ON THE LOW SIDE FOR TONNES AND GRADE DYOR