No question the HandXRF has the answer straight into the sample bag off the rig... the best holes were the first selected for assay sans the very eastern line they left for future upside. Nobody seems too concerned about the reality that HandXRF results are front-running assays across the ASX (RCR is the latest example as share price tanks during Nb target drilling), but it's the world we trade these days. Commentary sounds bullish, results look disappointing for mine.
ENR share price sold off as 'market judged the best wasn;t good enough" for Green on first assay release 16th July and correct it was. Outside the central higher grade trend interp first assay release, the mineralised carb inside the 'carbonatite complex' (read all sorts of rock and alteration types) Nb mineralisation looks too low grade and/or too deep to be economically meaningful compared to Luni style discoveries imo. Basically, one hole of economic interest on first pass, only infill hole 428 with 27m @ 1.2% Nb of economic significance second pass so far, and that next to hole 341 33m @ 0.8% Nb...
Nb mineralisation is rapidly breaking up as too patchy and/or LG to be significant imo. RC drilling into the deeper karst or fresh rock unlikley to generate higher grades or more coherent orebody imo. Rarely say never in earlyish exploration, still needs more infill, but the probability of a coherant, shallow, HG supergene zone is falling away with these results and the implication of holes still left un-assayed imo. MRE's have the mathematical habit of averaging down the best holes substantially with neighbouring LG holes for both geological and statistical validity...
GLTAH
(20min delay)