That’s an interesting question. While there are no standards on...

That’s an interesting question. While there are no standards on such things, I think common practice would be to describe gold as:

* significant over 300 ppb (which is 0.3 g/t) which would be clearly mineralised and massively above background, vs

* economic or commercial: that depends on how close to surface, whether open pit or underground etc, and most importantly whether it has friends. Even 100 g/t would not be commercial if it does not have friends. 1 g/t is usually commercial for an open pit resource. Capricorn have a very successful commercial open pit deposit averaging 0.8 g/t. An underground operation might require 10 times the grade to be commercial.

In this case, at Goolagong, MEU previously intercepted 0.7 g/t gold on the recon program which is clearly significant, and especially so because it occurred at end of hole when the recon AC rig hit refusal (ie could not drill any deeper) at just 38m from surface. So yes, it is clearly mineralised, with grade getting better with depth, def significant, and obviously now drilling with a more powerful rig to find out what happens below 38m, and how many friends. This is exactly how major new discoveries are made.