Hi all, sitting up late working as usual. So much to research.
@IronKing2010 hit the nail on the head above. Good work.
Carbonatite system 17km x 1km with first pass drilling hitting:
CBRC138: 3m @ 1.37% Nb2O5 from 90m, and *CBRC111:9m @ 1.40% Nb2O5 from 72m
Follow up drilling is needed to prove anything here but we have the right setting and a mineralised carbonatite system with scale and now hot spots and the right critical minerals. Wide spaced drilling is hit and miss; as an early discovery step. The focus runs from there so we have not seen anything yet. DRE have learned a lot from this work - again - in a far better place over the course of this year except for a share price way below where it was at the peaks.
WA1 has a market cap of $357.2M based on some high grade hits on an excellent intrusive system discovery 2.5km x 1km. Their best hole is high grade 1m @ 1.72% Nb2O5. Let that sink in. They do not have their maiden Resource in as yet. A recon program has been run and results came in about a month ago settling the share price back to the level quoted here (from $11 down to $8.40 at the current M/Cap). The market loves Nb2O5 because it is very valuable.
We don't have a 'similar' discovery just yet, however the DRE team is zeroing in on potential Nb2O5 discovery(s?) across this 17km. This has potential that needs proof of concept as we may only have a modest discovery (currently 14,500t Nb2O5). That seems a little unlikely however nature can be fickle. Maybe these early significant hits (they quoted 4 holes below) are a sign that something very valuable may lurk here. We have to wait on a lot more results before we draw any conclusions. Here are the results to date.
IF this proves up; we could see a material rise in the DRE share price, and we will have news on that by mid 2024. It is an excellent iron to have in the fire with everything else going on. It will be interesting to see how the gold exploration goes this year and not just at Mangaroon .
GLTAH CW
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