Hi Saltbus I also noted with great interest in yesterdays...

Hi Saltbus

I also noted with great interest in yesterdays announcement that the prospective strike of the Yittria footprint has been expanded to approximately 3km.

Thanks to the generous posts by @setfire2thehive, we have a calculation basis to determine what kind of resource this potentially represents. I have been reminding myself that it's very important to note that 3km is the prospective interpreted strike at this stage. But in answer to your question does 3km mean 3 times as much rare earths, the answer is no. It is much, much more. Because we are calculating resource from a three dimensional space, based on the calculation example provided by SF2TH, for 1km strike you get 56,000 total contained tonnes of TREO assuming specific gravity of 2.8 and a TREO content of 1000ppm. However the calc for 3km works out like this (IF, it is later drill tested and proved):

3000m x 3000m x 20m thickness of the mineralised regolith x 2.8 specific gravity = 504,000,000 resource and at 1000ppm TREO = 50.4 MT TCT TREO.

I have rerun this calc and the subsequent calculation of revenue several times as it gets very interesting from here to say the least, I don't want to repeat the remaining calculation outcome but recommend others perform it, see if you can stop yourself falling off your chair, remember 3km is only the interpreted prospective strike at this stage, and I would defer to SF2TH given his greater knowledge and experience. I have been using more conservative numbers as a possible estimate on potential until we receive further updates: 2km mineralised regolith, 10m thickness and average 750ppm across the deposit, assuming a 50% recovery from acid leaching and a 20% mixed rare earth concentrate.

We need confirmation on what concentration of HREE recovers from heap leaching which we don't have yet, and we also need to learn costs per kg to extract the HREE into a concentrate (MREC).

Remember we are talking only regolith above. Excludes potential for concentrated HREE in any laterite layer and the feeder system itself (alkaline igneous intrusion).