Yes the REE grades are low by comparison with Yin ironstones. Possibly not even economic their own right but they do have pretty good Nd/Pr ratios.
What probably excited punters the most is the Niobium and to a much lesser extent potash along with the REEs.
This was from the first hole into a previously unknown Carbonatite. Geophysically the target is large areally (kilometers) and has a strong gravity/?mag signature.
4m composite assays were only taken from the top of fresh rock to end of hole at 216m with the highest Niobium in the last sample.
They are probably awaiting assays for another 6 holes drilled on separate geophysical targets (3 closed space holes into two anomalies).
20 Kms away on another companies property there was also a first hole discovery of interesting REEs. Chance?
Location wise it is a tad remote - real understatement in that the hole is almost in the geographic centre of Australia with poor infrastructure. Find it and they will mine??
Mt Weld is currently mining the clays that were not even sampled in this hole. The sampling pattern suggests WA1 may have been surprised by these results. Maybe they didn't use PXRF and visuals were subtle? Resampling on 1m basis for the entire hole...
C2-5 would fit comfortably within the anomaly for the discovery hole at West Arunta.
Using DT's concept of drilling on 160m centres being a good first pass test the solitary West Arunta hole definitely rates as a potential discovery hole probably for Niobium with associated by products.
C1-7 are probably REE focused but Nb and potash are known in the Mangaroon area. 30-50m intersections with 0.5-2+% TREO from the better zones in the 14 initial holes at C3/4 would be exciting and worthy of close infill drilling.
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Don't think they have quite finished the C5 drilling yet. 2 or 3 holes to go.
Fairly cettan holes 45-48 have been drilled and a subtle hint on 49.
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Sorry should have posted on another thread but got carried away with the W Arunta play.
(20min delay)