Fantastic.
Good to see the XRF machine is in the ball park and a good field tool.
This will be a world class deposit and i strongly believe it will be bigger and better than Hastings next door.
It's right there in front of us. We've got the drill results, we just need to do some simple rough calculations.
I did a rough MRE calculation this morning. Please note that this is for discussion purposes only and is in no way to be taken as investment advice. I've made many assumptions within my calculations. To name a few: I've assumed the drill hits are uniform halfway between each other, the specific gravity of ironstones as 3.3, that the cross sections and plans as outlined within DRE's announcement are drawn to scale and match the scale bar (i've made my measurements according to their scale bar).
I come to 21.3Mt @ whatever the average grade is across the deposit (from the assays we've seen this morning could be as high as 2-3% TREO. This only includes the areas we have currently drilled and i believe this number could increase a lot.
The mineral size of Hastings, 27.42Mt @ 0.97% TREO. However, We still have a lot of drilling to do and we also are testing those juicy carbonatites which could host a large amount of TREO. Fingers Crossed.
Please note i acknowledge the above could be completely inaccurate and is for discussion purposes only. DYOR.
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