A very good analysis amigo. The announcement by GRL says the previous drilling was shallow RC and AC. And that drilling didn't hit fresh rock (ie the rock was oxidised, which could have been depleted? but we don't know). The levels of rare earths were described by GRL as follows (page 3):
"The previous owner noted that mineralisation extends from the surface to a depth of 40-50 metres at end-of-hole, with shallow overburden where present consisting of clay, sand, silt, and marginal grade mineralisation at 0.5-3 metres thick. It is of note that a significant number of the historic drill holes finished in the highest grades of RM and REE and remarkably none of the drill holes intersected fresh bedrock. The resource potential at depth is completely untested."
GRL Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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