I'm surprised to see a company of this market cap is comparing handheld pXRF grades from a few samples, to world class JORC REE resources like Mt Weld. I would expect the ASX to be on to this. Mt Weld resource is around 50,000ppm (5%) TREO. This comparison is a big stretch. The project has some interesting geochem.
Interestingly, they completed a large drilling and trenching program on November 1st (link below), and after 28 days this is the first reported grade from a handheld XRF. Does that mean that out of the entire drilling program (40 percussion holes for 538 meters) that this was the best result, or the only result? You would think so otherwise why report it? The trenching samples have been sent to Australia for assay, and you can't pXRF 5 tonnes of waste material with a handheld unit, so will have to await lab assay there.
Overall an interesting project and I'm not across the history (first time I've looked at this). Good luck to SH's and I'll follow the story on the sideline.
EPM Price at posting:
2.0¢ Sentiment: None Disclosure: Not Held
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