Encouraging announcement today, imo
It said:
"A regional stream sediment survey was conducted in which 25 kg samples were collected from drainages to produce heavy mineral concentrates. Each sample represents a 2 to 3 square kilometre area."
Four of the samples reported represented grades of 4% REE, based on my calculations
2,000m x 1,000m at 4% grade x 5 metres thick x bulk density factor of 3 x 70% mining recovery = 840,000 tonnes of 100% rare earth metal
3,000m x 1,000m at 4% grade x 5 metres thick x bulk density factor of 3 x 70% mining recovery = 1,260,000 tonnes of 100% rare earth metal
LYC is planning to produce 21,000 tonnes of 100% rare earth metal per annum
Ann: RARE EARTH PROJECT UPDATE , page-27
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