Don't get fooled by the GWG pumper- check his profile. Initially, Eldor was initially drilled as a prospective tantalum/niobium deposit, which it still is, but the Ashram REE zone has become the focus of further exploration moving forward. These tantalum/niobium resources were indeed discovered in the Northwest, Southeast and Star Trench zones, but Commerce discovered the Ashram REE zone in 2010 and made an excellent hit with the first hole drilled, EC10_027, reporting 1.72% TREO over 215.30 m (August 2010 NR). As with any new discovery, the geos tested the areas north, south, east and west of the discovery hole. Of course some of the subsequent holes did not show high grades of REEs, as should be expected when attempting to further define a deposit. The next hole reported in September 2010, a little to the northwest of the discovery hole, showed higher grades over a greater depth- 1.95% TREO over 243.84 m, while some of the step out holes to the south east showed lower grades. All in all, "The 2010 drill program at the Ashram Rare Earth Zone consisted of 12 holes totalling 3,312.67 metres. REE mineralization occurs within an area measuring in excess of 650 m east-west, by 350 m north-south, to depths of 365 m. The mineralization remains open to the north, south, east, at depth, and is not fully constrained to the west."
The geos then started concentrating on the northern and northeasterly areas of the deposit and grades and depths have been steadily increasing as they followed this trend:
EC10_044 hit 1.78% TREO over 240m
EC10_045 hit 1.99% TREO over 309m
EC10_046 hit 2.02% TREO over 303m
EC10_047 hit 2.04% TREO over 262m
In other words, it is totally irrelevent what the cumulative grades and depths have been to date. What is important is that an expanding high grade zone over 350 metres X 300 metres has been discovered, along with increasingly greater concentrations of MREOs and HREOs, over consistent 250-300 metre depths, trending north and east.
In this latest NR we have this fact: "based on exploration to date the highest grades and the enriched MREO + HREO zone appear to be within the northeast margins of the deposit". So the February drill program will now target the east and northern boudaries of the deposit, where the higher grades and greater depths of REEs have been discovered. In fact, new drilling equipment capable of reaching 600 metre depths is scheduled for February delivery, as the recent drill holes have even found REE % increasing with depth.
To suggest that Eldor is a low-grade deposit is absolutely ludicrous.
http://www.stockhouse.com/Bullboards/...9573&l=0&pd=2&r=0
RE: RE: RE: Analysing Results on Website
Vestedinterest1
1/30/2011 4:03:34 PM | | 184 reads | Post #29189614 |
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