RE:New updated resource New here. Has GMA been doing more drilling lately? The previous report by Deadlock said an updated resource could be out this month. Will the new updated resource contain new drilling results or have they sent some samples back for reassaying? any info is appreciated.
After completing 33,000 metres of drilling, GMA published a 43-101 (meaning it was stock exchange compliant) resource report in 2011. Based on those 2011 numbers and the current value of REE’s (as you will see below), the "Gross Metal Value" of that deposit is an incredible $82 Billion.
That $82 Billion (market value of the REE’s contained within the rock if fully extracted and sold) is contained within a footprint (Core Zone) measuring ONLY: 650m x 900m x 750m Deep.
2) Since the time of that 43-101 report, the company has done extensive drilling within the core zone and defined a Heavy Rare Earths (2nd enrichment) Zone that is 350m x 20m x 230m and still open at Depth. Those heavy rare earths (HREE) include highly valuable Dysprosium (Dy) and Neodymium (Nd). These were present when the 43-101 was published in 2011 but this is a much richer zone.