The below is an extract from CPN's quarterly released today. You can see that Greg Miles is excited over even 01.g/t. Now I know that surface samples are never a true indication what lies beneath. But our .5% average over the samples implies Rh 5000g/t. If we were to get even a few 1,000 tonnes @ 0.05% we would still have 500 g/t.. So 2,000 tonnes would contain $606m dollars worth of Rh at todays prices. We can dream.
Rhodium is a rare and extremely valuable element so grades greater than 100ppb, or 0.1g/t, are considered highly significant. Despite the value of rhodium, routine analysis is rarely undertaken because of the scarcity of the metal and significant additional cost to assay the full 6-PGE suite. Prior to Caspin’s involvement in the project, only five samples had ever been assayed for rhodium as part of a metallurgical sighter program in 2006. Therefore, the potential for rhodium mineralisation has never been evaluated. The Company is extremely encouraged that its first-ever assaying of rhodium has returned such significant results. The Company will now review all of its past exploration results with a view to selecting zones of PGE-rich mineralisation for 6-element PGE assay, with the aim to identify further rhodium mineralisation.
RTR Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
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