I agree that evaluating this Niobium discovery by reference to a Gold discovery in terms of gold equivalent gram metres makes sense. My figures are as follows:
Nb 2O5 Price US$/t 45,000 45,000 1 Grade % 0.62 0.31 2 Intercept m 54 142 3 4 Au Price US$/oz 1,670 1,670 5 g/t 53.7 53.7 6 AuEq grade g/t 5.20 2.60 7 AuEq.m g.m 281 369
and using this guide:
I conclude that we have an excellent result and with the indicated size of the P2 target (3km gravity anomaly) we may well be on to a major discovery.
Ann: West Arunta Project - Discovery of a Mineralised Carbonatite, page-134
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