Ann: Encouraging Visual Results at Lyons Maiden REE Drill Program, page-39

Reply to your post on other thread but more appropriate under this initial results thread.

First some obvious comments:
The continuity of surface ironstones has been confirmed and show both strike and depth potential.
The thickness of ironstones was, as I suspected, more consistent with those on the nearby Hastings ground than what has been seen at DRE's Yin and, to a lesser extent, Sabre.
My estimate of the number of holes drilled was 54 with 53 reported so comments below about areas drilled is probably relatively accurate.

What was drilled and what reported? Previous post---


Visuals for Lyons 11-13 and 27 reported.
12-13 ironstone thicknesses 1-4m
27 ironstone to 6m and open.
Alteration halos of fenetisation (fluids that came with the ironstones and altered host rocks) up to 10m which are potentially a useful, if lower grade halo, to the ironstones. [Final assay results on some Yin sections (7350600N may be a good one) reflect this broader low grade halo]

No thickness mentioned for Lyon 11 but ironstones present.

No 'apparent comments' about other areas of interpreted drilling marked 1a, 4 & 5 plus the isolated holes at 3 (anomaly 3 and one other hole).

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What do the reported thicknesses mean?

Depends on a combination of true thickness and the angle at which a drill hole passes through that zone.

From a previous post some possible combinations for the Lyon 12/13 area.



For this image the location of the ironstone outcrop (samples locations) is essentially fixed but the dip and down dip continuity, while 'fixed', is not known with any accuracy until drilled.
That holes are placed on the SW/W side suggests a dip in that direction.
No collar coordinates or other hole details are provided yet so still speculative that holes were drilled at -60 degrees to the ENE.

These two sections come from HAS and give almost two end points for dip of the ironstone.
Sub horizontal (top) and sub vertical.

Bald Hill - site of first mining and one of the best zones, for thickness.



The apparent thickness for the vertical holes into a sub horizontal zone are closer to true thickness than the lower example.

So to just state thickness without other data can be misleading. Probably not, but one of the many issues with reporting visual observations without assays and/or context. Perhaps something the market agreed with yesterday when marking down the SP.

I wouldn't be surprised if the ASX asks them to update the announcement with additional information. Collar data at a minimum.
Companies are in a difficult situation when having limited data and a 'hungry' SH base to satisfy.

Grades? Given the thickness/style correlation with HAS expect a bulk grade around 1% TREO or a bit higher locally. Not a valid 'comparison' so wait for actual assays.

These results suggest there isn't a standalone deposit in these areas.
Proximity to HAS means the drilled zones could become satellite deposits for Yangibana unless other anomalies yield larger zones or the deeper EIS drilling shows mineralised Carbonatites.