i88 found an average of 1000+ ppm of Triuranium Octoxide (U3O8 - which is refined into Uranium (U)) in 52% of soil assays of the area tested (not the whole site), but the real reason for the big jump in share price was the hits of 5,000-10,000 ppm of U3O8. The market cap for i88 is also now ~$14m after doubling, so it's understandable RE: share price jump on such news based on the micro market cap!
This is quite a big difference to Hastings' 946ppm U3O8 incidental finding from an isolated rock sample. 1000ppm of U3O8 is around the cut off for mining feasibility depending on the composition it's within & mining method required. Even at this range - it's still considered "Low grade ore"..
Not to say that it's not positive news - but the comparison isn't quite right.
The heavy rare earths finding at the centipede range definitely is worth noting though and I would've thought the market would've responded somewhat.
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