You are right that its is a bit of speculation atm. So far we...

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Sanar5

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06/12/23

11:59

Post #: 71299971
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Originally posted by jctrout: ↑

seems to be a bit of spec about what the results mean. If we use the YouTube clip and the drill stem report in the last announcement as proxy, you can see that the resource is embedded in granite rock rather than clays (mostly). there are some sections of clay in the upper stem but sub commercial in my view. mostly though, this is a granitic resource and cannot be commercially extracted at these concentrations. It's a good start to prove that the resource exits, albeit too poorly concentrated. I suspect that the better resource is in the highly magnetic sections to the East of these current works as there is a significant elongated hotspot over a few km strike in the bush that way. This would be my target for RC drilling. you could spend another 300k on it to clock up the 2000m needed for the earn in on that bit and then make the decision...

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You are right that its is a bit of speculation atm. So far we know it is predominant granite based resource. I have done a quick search and it appears to me the grades are very good for granite based REE deposits. The thing is unclear that how economic it is to extract REE from granites. I hope the company will update on that soon. If it is economic to extract at these grades from granite, then they might have a good resource.

IMO DYOR

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0 Great analysis

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