The review raised the issue of Narraburra's low grades.
Those familiar with Narraburra will remember that back when GRL conducted the DD campaign to upgrade the JORC resource, a significant portion of the field was flooded and was unable to be drilled (this part of the field covered some of the highest-grade parts of the resource).
The next drilling campaign will complete the infill drilling and the high-grade northern extension. This new drilling is almost certain to substantially increase the size of the Narraburra resource and should also noticeably lift the overall grade as well.This presents GRL with the opportunity to increase the cut-off grade from 300 ppm TREO-Ce to 500 ppm TREO-Ce. This would mean that the Narraburra JORC resource would be smaller but substantially higher grade, which could significantly increase the likelihood of economic extraction.
I hope this is possibility the scoping study will consider.
GRL Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
