Hello. It does not work as you are assuming. The average depth of these deposits, based on VMM (which appears to have released the most comprehensive drilling results), will be around 20 to 30 metres, depending on the deposit. The MEI JORC has a supposed average depth of 6.9 metres (although i calculated it at 9.9 metres; but MEI are yet to drill out their deposits to the maximum depths of 20 to 30 metres). These are clay surface deposits. Once you hit rock, it is uneconomic because 2,000ppm is super low grade and can only be economically extracted from clay.
Ann: ACQUISITION OF POTENTIAL WORLD CLASS IONIC CLAY REE PROJECT, page-47
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