Ann: High-Grade Rare Earth & Niobium Zones at C3 & C5 - Mangaroon, page-30

I honestly thought holders had understood and downgraded the C3 assays first time around. 1% TREO simply won;t do it in laterite supergene, even 2% won't do it as REE Cummins project has demonstrated to date. NdPr is low 20's not 30's, the met will be incredibly difficult and REO recoveries poor and into a low-grade con at best. That's the nature of fine grained, re-precipitated, clay-hosted REE minerals in carbonatites the world over (not ironstone veins though). Today's assays are infill to earlier C3 results and shrink the >1% TREO envelope , not expand it.

3 out of 10 holes are >1% TREO over reported thickness, 7 are under, mostly well under. CBRC116 is only 25m @ 1.03% TREO (20% NdPr ratio, so equivalent to 0.66% TREO in Yin ironstone at 30% NdPr ratio), but very difficult met. Better holes like CBRC115 have small HG patches, but there is variability in all weathered laterite carbs, and you mine an average unless the HG is continuous hangs together very well. Even Dean's language is about "demonstrating potential"... because C3 isn;t it. The niobium is only elevated in a few holes and sits above the higher grade REE intervals (ie not a direct processing bi-product) the titanium never works in carbs (can't separate into a clean con for an industry requiring only very clean Fe-TiO2 con feed) etc, etc

In short, today confirms the small size and poor grade of C3, but tells us nothing of the carbs yet drill to the SE holders having been hanging out for last 3 months. Let's see if the c4-C6 carbs throw up any deposits of much higher grades?