Been having a closer look at our high grade holes. To average 2.5% a cutoff of 1.1% is necessary and over the total holes reported so far
50% meet this cutoff.If we continue at the same rate over the rest of resource and assume the its size is 2km by 1km (which is conservative) then the high grade tonnage at an average of 2.5% is
2000 x 1000 x 2.15 x 0.5(50% high grade) x20.69m (average thickness) = 44 Mt at 2.5% (IGV = $63 billion)
There will be at least another 63 billion IGV of lower grade at 0.3%(cutoff) to less than 1.1%.
Note Niobec is profitable underground mine with average grade of 0.4%
Ann: West Arunta Project - Luni Assay Results, page-97
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