nopoo wrote: The assay results have determined that a 30-tonne random sample from Wicheeda blasted and trenched material reveals the presence of four rare earth elements that, if made into oxides (the finished product required by a rare earth consumer such as a battery company), would show up in the following percentages per tonne of total rare earth oxide: 2.34% cerium, 1.77% lanthanum, 0.52% neodymium and 0.18% praseodymium.
You should Own IMT.... they are north of DEFN.. and have a better prperty.
Gross In-situ Metal Values
Ce @ 2.34%/tonne
1,000 x .0234 = 23.40 kg/t x US$1.93/kg = US$45.16/t
La @ 1.77%/t
1,000 x .0177 = 17.70kg/t x US$1.89/kg = US$33.45/t
Nd @ .52%/t
1,000 x .0052 = 5.20kg/t x US$62.34/kg = US$324.16/t
Pr @ .18/t
1,000 x .0018 = 1.80kg/t x US$61.40/kg = US$110.52/t
Adding all four REE prices per tonne gives us a total of US$513.29/t or CDN$685.69/t. That’s the gross in-situ metal value per tonne of a mixed rare earth oxide comprising cerium, lanthanum, neodymium and praseodymium.
But wait, it gets better…
We know that the Wicheeda deposit has an inferred (not NI 43-101 compliant) resource of 11.2 million tonnes. If the material in the 30-tonne bulk sample is spread evenly throughout the mineralized area used to calculate the inferred resource, if the bulk sample turns out to be representative of the current inferred resource of 11m/t, and remember mineralization is open in many directions, we are looking at a potential gross in-situ metal value of 7.679 billion Canadian dollars! (CAD$685.69/t x 11,200,000 tonnes = CAD$7,679,728,000)
To put this into terms most resource investors can understand, that is equivalent to a 6 million oz gold deposit grading about 12.7 grams of gold per tonne (or 555,000,000 ozs of silver) - which any precious metal exploration company would be extremely lucky to have.
https://aheadoftheherd.com/Newsletter/2019/Defense-Metals-unlocks-value-in-Wicheeda-rare-earth-deposit.htm
ttfn
nopoo
I own DEFN