First of all, I am not making a comment on the grades being good or bad, I was just comparing the first 5 holes to the next 19.5 to the next 35.
Secondly, the average grades I have quoted are of the 'intercepts' not of the drill holes. Ie I am quoting the average grade of the bits where they found something, not of everything they dug up. So I had ignored all the empty rock they found. I thought I had labelled that, but can understand if that was misleading.
If I am correct in my numbers (and I only v quickly ran the calcs this morning), actual average grades of the drill holes detailed this morning would be:
0.0137% Co, 0.0121% Cu, 0.006% Ni.
I am no expert on the economics of cobalt mining grades, but that looks pretty low to me (uninformed opinion).
I am a holder of N27, so would love to be corrected on this.
RML Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
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