That's a very good and relevant point you raised Col. The rock chip samples should very much reflect the grades and impurities of what lies beneath them.
I'm not a great fan of grab samples, however in the case of Fork North we can expect the mineralisation to commence at surface and for that reason it's a case of what you see is what you get!
Extract from 26th March announcement:
"Initial drilling.........targets that include outcropping Brockman Iron mineralisation at Fork North"
Extract from the Goldsworthy report:
"100Mt Inferred at +60% Fe Brockman high grade. P = .135"
Only need to blend 50/50 of that .135% with the total Railway resource (P level .06%) to achieve .097% and walla, we get <.1% P.
UMC Price at posting:
86.0¢ Sentiment: Buy Disclosure: Held