G'day folks, Michael from GeoInvest bringing you more ongoing coverage. So just following up the rare earth coverage, we're going to touch on some of the Niobe companies that we previously covered off on. In this presentation, we're going to take a look at Agriman, SUM, so Summit Minerals.
We're going to take a look at Rincon Resources, and then we're going to touch on Encounter as well, and just see how those projects have progressed since we last covered them. So some of the initial reviews on these companies. are up on the Patreon as well so if you want to check my initial sort of assessment and how it's aged since then you can click on the link below and have a look at those.
So if you don't know about me I'm an exploration geologist of over 10 years experience and member of the Australian Institute of Geologists at Geoinvest. I try to provide reviews of companies projects with the purpose of explaining some of the geological terms and the meaning and the steps, not so much the financials but more just the merits of the projects geologically as such. So if you're a big fan of Nobeum then hit the thumbs up and without any further ado let's kick the tires light the fires and crack on. All right so we're going to start off with Agriman.
So Agriman holds a significant portion of that West Arunta ground. Most of it is under the Salt Lake so that's their sort of focus as a potash company but I guess a lot of the ground that is prospective for Nobeum. uh, they still hold, uh, they do have a proxy by, which is Tally, which is a private company and, uh, essentially, but Agramon is a super quick one because I guess a lot of people have been interested in Agramon for the Novi and potential. Uh, I did go over that in some detail in my review about where their ground lies and what they hold and I guess any potential there, but, uh, in their company presentations, anything to do with Novi and they just pretty much referenced back to Tally. and if we go to their website and we have a look at their ASX announcements as well everything here is just in relation to their potash there have been no developments at all as far as the niobium goes and you know obviously that's not their focus so agramon's a super quick one as far as progress or or you know work done towards niobium discovery or there's a there's nothing right so we can just move on from them pretty quickly tally as well i'll bring up up Tally but their website is just a private company.
There's nothing sort of disclosed there or information available so we unfortunately don't have anything to discuss there either. So the next No-Bim company which I guess had some significant hype around it is SUM Summit Minerals and here they're looking at a very different sort of project and style of mineralization from what you see over in the West Oranta where they're looking for No-Bim carbonatites. here they're chasing coltan which is a columbite and tantalite inside a a pegmatite so often these pegmatites along the edges they'll have zones of coltan which will occur there and and that is the target for summit minerals so when i last reviewed them they were basically doing rock chip sampling of the pegmatite picking out areas of coltan and then making a sort of handmade aggregate of the coltan and sending it off for assay and receiving very high nobeum results as a as a result of that which is the natural normal outcome of doing that sort of activity the i guess summit said that we need to do this in order to get an idea of what the grade of a final product might look like and i agree that's a worthwhile exercise as well however it was just a lot of that that same sort of activity and that was the purpose of that review.
So we go back and we have a look at what Summit are up to now. Essentially they've acquired some additional ground just to the north of the area that they're already exploring on so that is of course good news to have more mining lease and with more sort of historic and good results which are the same as what they had previously sort of announced so that's all fine as well. The only thing we really want to cover off on with Summit, which is different, is just talk about this bulk sampling program that they're doing and the magnetic survey as well. We actually don't need to talk about magnetic survey much, but the bulk sampling is really quite important. So the thing to know about coltan minimization is that it does occur in discrete patches within the pegmatite itself and it's actually really quite nuggety.
So when you look at the way that and what do I mean by nuggety? Well it occurs in zones of the pegmatite and it can be really quite patchy as well and so you might have a certain percentage of coltan within one part and then you might go you know a foot to the right and the abundance of coltan will significantly decrease and so trying to get a representative idea of how much coltan is actually in how much volume of the pegmatite can be quite difficult to do and this this is the same with all mineralization that has this sort of occurrence as well can be gold and uranium can also be this way a lot of minerals associated with Pegmatites are often nuggety and occur in a similar fashion to this. So the bulk sampling, what does the bulk sampling do? Well bulk sampling you go out and you collect several hundred kilos worth of material, if not tons of material often you might actually do some blasting right and and and collect you know a significant amount which is more like what you might mine or what you might be scooping out in a bucket and then you'll go and you'll do your test work.
on that. Now there's two types of test work that you need to do. The first test work is you need to get some sort of idea of what the grade of that bulk sample is and I'll explain why that's super important next. The next thing that need to do is obviously just work out are we able to separate the coltan from the pegmatite itself through simple and easy means.
Now I'll tell you in my estimation The answer here is yes, obviously. So this is the main way that coltan is mined. Coltan is a really dense mineral compared to the pegmatite around it and it's very amenable to density and magnetic separation right. So density is the first step.
You'll remove most of the pegmatite just through density separation and then you'll use magnetic separation which is WIMS which will then separate it even further again. Now during this process you're going to get an understanding of Two different things super importantly. One is the liberation percentage of the actual coltan relative to the pegmatite. So when I crush this material, how much of my coltan and how much of my gang or my pegmatite just naturally separate apart?
Because you can imagine if you have a rock which is made up of minerals of different densities, when you crush it, it naturally just separates and crushes along those contacts, right? So you can, you get an idea of your liberation that way, which is what you need to then tackle your metallurgy appropriately. And the second thing is, uh, how pure of a coltan sort of product can I create with simple, uh, density separation means, right?
So, uh, you know that's the other thing that you want to find out here and then you want to find out the size fraction as well because like I said previously and with other commodities if it is too fine then you lose a lot of it in the processing and the sorting sort of process but I'd suggest that none of those are problems that SUM are going to find here I'd expect that what they are going to find is pretty much what they found with their sampling as well is that it's really quite easy to pick out to separate it liberates really quite well and they can create a relatively pure coltan product quite quickly. When they assay that they're going to get astronomical noobium numbers. That just goes hand in hand with the territory and that's probably something that everyone already knows. So if those when those results come out I wouldn't expect that to be anything really significant.
But despite that it's still just a process you have to go through because you do have to confirm that those assumptions are true because if they're not you know you could make a big mistake so that's what's needed to be done. What is super important though with the bulk sampling is in relation to any future drilling that's coming up and it is important that they do the bulk sampling before they drill because of the nugget effect. So if you went out and you started to drill these coltan zones straight away to try and get an idea of all right what's the size of these zones which the coltan is occurring in.
and then also what's the grade of the no-beam within the coltan right in these zones. With a drill hole you only have a six inch hole in most of the cases to try and hit your mineralization and when you've got a nuggety mineral and mineralization style like coltan is you can literally have a coltan rich zone right here and then here you've got half as much or a quarter as much right. and your six inch drill hole goes through this part of the rock and you end up with really underwhelming numbers but the numbers that you get from the drilling don't represent the actual grade of the coltan in the rock.
This is the big problem with nuggeting mineralization. So what you need to do is once you take your bulk sample and then you get a better understanding of all right on average across all multiple bulk samples on average it shows that across this volume and area of rock I have an average grade of x amount. Then when you drill the same area that you bulk sampled from, your results are likely going to be lower than what your bulk sample will apply, but you can apply a correction to that.
You can then weight that drill hole based off the nugget effect and you can upgrade it. And that's 100% appropriate thing to do as well. So we've seen this in a lot of different deposits where you will get one result from say rock chips or sampling and it looks really quite promising. You drill it and the numbers are really quite underwhelming and it's really difficult to reconcile those differences until you do the bulk sampling.
Once you do the bulk sampling you get a better understanding of the mineralization then and then that explains the difference and you can apply that correction. So super important for SUM to do before they drill. I don't think there's going to be anything significant that's going to come out from the box sampling as far as the density work, the separation, the assay grade of the concentrate that they produce from this.
I think that's all going to be fine and very much in line with the information they've already put out from that the samples they've done this by hand. However, What will be important is just to see the overall grade of that bulk sample and also how they did it. So I really don't want them to go and do, I guess, extremely selective bulk sampling with low volume of material on select areas. I mean, they have to do it on select areas where the coltan is occurring naturally because that's the areas they're going to be targeting within the pegmatite.
but it is important that they do try to get as much volume and material as they can. So I want to see sort of hundreds of kilos worth of material and sizable sort of volume be sent away for bulk sampling which is it's an expensive process it's not like a small simple process and then when we look at the grades of that that will give us a bit of a better indication to say okay well in this area which they define as xyz big the bulk sampling looks like and because this will incorporate all the gang elements as well right all the lithium sorry not the lithium all the feldspar all the quartz all the other material which is in and around the coltan it'll give you a grade of that as a bulk right and that's what we need to see so once we know what that is then we can interpret any drill results uh with the right sort of context so that's where sum are at the moment uh really not much progression since i initially sort of covered them to be honest with you but you know in this industry it takes three or four months generally to get any one step of your program or your phase of exploration sort of done. You know to get your permits in place to go into the field to collect the samples that you need to then logistically truck them to the lab that you need to get them to the three or four weeks turnaround that the lab takes you get the results back. It takes you maybe a week or so to interpret those results and work out what they really need, I mean, plot them up, et cetera, et cetera, and then get them out to the market. And then, and it's only once you have that information, you can generally decide on which direction do we go from here.
And so, you know, it doesn't surprise me, I guess, that not much more has happened, but I am very much looking forward to the result of the bulk sampling program and especially the details of the bulk sampling program as well so that's where SUM are and yeah important step for them. Next up we have Rincon resources and well this one was since we last covered them we covered them just before the drilling at Avalon and the results at Pockelei and so forth you know the copper results of I haven't ever been very interested in those as well. I've always been quite skeptical of the targets that Rincon Resources have as well. They never really matched the descriptions of or the general sort of target models of what most IOCGs are and had some differences. Well, not enough similarities to the Carbonotides to definitively pin it as a Carbonotide target, in my opinion.
But nevertheless, they drew it Avalon and it did make me think, you know, just as the drilling had commenced and some of the information they put out there. It's like, geez, you don't want to miss out on this one, right? Because there's a good chance, you know, you never know.
In my opinion, it's worth nothing. And so you look at things with, you know, only a fool would ever say 100%, you know, this is this or this isn't that, based off geophysical data or anything like that. The only way is to drill test it, right? And most of the times that we come up with a model, either positive for or against, you know, we end up wrong. That's the sort of scientific method, right?
It's constantly proving that your theory is wrong. right until guess what your theory is right and you can't disprove it and that's when you make the discovery right so that's that's the sort of scientific approach now uh the drilling is not very good to be honest with you so uh what do they say handheld xrf analysis detected niobium these are the uh drill core results xrf results at the um drilling done on the drilling that came from avalon and shirogrite avalon was a big target Handheld XRF has detected Nobium and rare earth elements, anomalism associated with a cyanide intrusion at Avalon and Shio target. So anomalism is not what anyone wanted to see. We wanted to see big fat novium numbers and so straight away it's a little bit disappointing. While generally consistent with typical whole rock geochemical values of cyanide, some elevated rare earths were detected in altered cyanide at Shiog.
So cyanide is often a rock which is associated around the rims of a carbonotype. So the presence of the cyanide is generally encouraging as a whole rock for rare earths and potentially for carbonatites as well but it is still just a boring cyanite right like it is still just a cyanite rock until it's something more. The drilling program has confirmed that the gravity anomalies at Avalon and Sheok appear to be caused by following geological by the following geological units which lay beneath a shallow sand and lateritic clay profile.
Well you didn't need to do deep drilling in order to confirm that right. So you could have just done some very shallow air core holes, well, most likely, or even shallow RC holes if you needed to, to punch through that sand and lateritic layer and then hit the unit underneath, and likely you'll have an explanation then. So at Avalon, the gravity anomaly high can be attributed to dense mafic and ultramafic volcanic and subvolcanic rock units intruded by cyanide dikes and seals.
So, wow, this is always a problem that you have. I'll... tell you what most gravity anomalies that you find are going to be a mafic unit most magnetic anomalies that you're going to find are just going to be a boring mafic rock as well right so if we look at any bit of land you can and you look at the geophysics of it you can always find gravity and magnetic anomalies most geophysics geophysicists if you give them a bit of land they'll give you 50 different targets things that are denser than what's around them and yes they are all sort of genuine targets because you don't know what they are.
Why is this denser than everything that's around it? But as a general rule you can't just be going and drill every different gravity anomaly or magnetic anomaly because they're sort of diamond dozen. You need something else to give you an indication that this one might be worth sort of drilling. Now I'm not saying that that's not, that's what Rincon did just drill anything because they didn't.
They did selectively pick out the ones which genuinely had a justification to follow up. But Generally as well, you just want to, you're drilling the magnetic and gravity anomalies with the purpose of finding out, is there a genuine geological reason for why this anomaly is here? If your drill hole shows that, and there's no evidence of mineralization, you generally kind of stop the hole.
It's a hard thing to know, right? When you're drilling these targets, when you hit something that explains the actual anomaly. Especially quite early in the drill hole, what do you do? Do you say, well, do we just keep going? We've got an explanation for what we found here.
Do we just keep going or do we end the hole? No one wants to be the geologist that ends a hole. And of course, we've all heard the famous stories about people who, for example, at Degrassa, the drill hole is meant to end.
There's nothing particularly in the hole. The geologists on site there just let it go for an extra rod or two. And it was that extra rod or two at the end of the hole below the target depth.
that makes the big discovery right like you know so it's one of those hard things you never want to be a geologist that ends the hole early when there's a discovery sitting lower and at the same time you know what you also don't want to be the geologist who pushes a drill hole for 400 meters through a boring mayfair unit when the unit 100 meters above also explains you know the whole reason you're there as well so you know it's a um it's a it's a difficult one At Sheoak the gravity anomaly can be also attributed to similar dense mafic and ultramafic rocks. Alright so it's the same thing but the takeaway here is that these anomalies were actually sitting under shallow sands and clays and they could have actually been defined really quite easily. When you look at the mineralization the niobium mineralization here that Encounter have got and that at Looney of WA1 as well the niobium is always sitting above the carbonatite.
you know in the weathered zone at the cap of it right you don't need to drill all the way through the body to get an idea of what it is and if it's mineralized at all so that's probably my biggest criticism of the work that was done here to be honest with you uh and it's probably not fit i don't know it's always hard to be critical of of companies because the geologists that work for these companies are always far more informed than what i am and you know People don't do things for silly reasons. They always have a really good reason as to why you do your exploration program the way you have. So, you know, for me to be critical of it, I don't think it's quite fair, but naturally that's just the way that I, I feel my process.
And we'll talk about this in the next one, but My general school of thinking to testing targets follows a lot more along the path of what encounter resources have done it and how they drill targets and test them as opposed to how Rincon did it, right? And there are sort of two different schools of thought there at play when it comes to exploration. Based off the preliminary XRF data, it's currently interpreted that the rock sequence Avalon and Shearish suggests the presence of an alkaline igneous complex. That's good.
Potentially related to no... rarefaring carbonotite intrusions like potentially yep sure arm wavy um alkaline igneous complexes are found either well this is where carbonotites occur in these complexes and this is also So you just also have a lot of these complexes as well with no carbonatites as well. But it is the sort of area that you do want to be looking if you're hunting for a carbonatite, 100%.
Here's Avalon over here. This was the big baby. And, you know, Rincon Resources saw this huge pickup in their share price with seemingly no real reason why.
It seemed like a lot of hype and speculation. And there was, in my opinion, there was never... anything geophysically about these targets which sort of warranted that. So there's certainly a curious story here behind what happened with Rincon and this drilling and including the trading that happened just before I think the results for the Pocolai came out and there was a massive sell-off before results were announced from what I understand. Right and you look at the depth of these drill holes here Avalon like 500 530 meters, 300 meters, 252 meters.
Again, these are really quite deep holes. And like I said, you know, as Rincon said, the gravity anomaly is explained by a MAFIC unit that sits really quite shallow. So you've drilled through this MAFIC unit for a long, long way. Looks good.
And you can see the traces here. So, you know, this is one of those things as well where... it all comes down to your exploration model and what you're chasing and what you're targeting right and i guess that the one thing that you know this is why my criticism that i said before probably isn't fair all right and i ran my mouth too early is that this target is both you know as a as a gravity target is both a potential carbonotype target but also as i've mentioned a lot potentially an icg target as well right now with the icgs the the dense areas of the anomaly are really quite super important for carbonatites they're not really right because like i said before this shallow zone so if this is the base of the weathering here you know if this was loony or this was any of the encountered carbonatites which are in in the region so that's what you just sort of expect what you'd be chasing you know these drill holes would have only had to go to about 100 meters and you would have tested the whole base of weathering because it's where this carbonatite comes up into the base of into the weathering zone zone that's where generally your either phosphorus or your nobium mineralization occurs and then you know you go a little bit deeper than that just to confirm sort of what the the rock is sitting on but because they actually want to test what these dense bodies are you know they sort of the drill holes were planned to test that and so they went deeper and that's obviously why they didn't stop the holes as well so you know it's all about your exploration sort of process you know if this was in counter resource they would have just ran a whole series of air core or slimline rc holes across this drilled through the base of weathering got to the bottom put a hammer on hammered for as much as they can maybe about 10 meters or so and then and gone get the assays and interpret to see do we have an explanation for what we have here or is there any justification to go back and doing deeper drilling but rincon obviously a different exploration model where they're chasing the geophysical target and that means you have to go deeper here here as well. So yep that's that looks like they've drilled really into this this magnetic this sorry this gravity anomaly to a sufficient amount to sort of get an explanation of what's there and also to know whether there's anything good or there good or not and you don't really you don't need to drill down into the densest part of this of this body at all.
Now you can see on the drill traces on the right hand side the nirobium grade so 0.1 to 31. ppm so with nobium we're looking for percentages you know 0.5 percent to one percent 1.5 to two percent you know that's all highly valuable mineralization and the xrf here at those is is not significant at all now with rare earths xrf does not work for rare earths very well at all Really at all, like it's extremely bad at it. Now, what XRF does work for with rare earth is yttrium, right? So it can pick up yttrium fairly accurately. And then you can use yttrium as a proxy for the relative abundances of your other rare earths as well.
I don't particularly like to do it, but it's an indicator, right? You say, okay, if I've got X amount of yttrium here, you know, then there's generally going to be a lot more associated rare earths with it as well. It's hard to sort of put an exact number on it, but it's just an indicator.
So what I would suggest though is that if you know your rare earths here with what the XRF has picked up, which is not going to be very good at all, you know the assays will have higher than what the XRF picks up every single time, but the uterine would have been a good indicator here and if the XRF is only picking up to 539 ppm depending on that distribution. uh you know that's not anything special or good enough either unfortunately so uh that's okay though you can't win them all yeah some of these bars here look quite good like quite high but you know it's just relative to the amount that was sort of found down hole and um there's nothing really there so yeah that's uh that's disappointing again to you know drilling testing these anomalies this is shiok And the PPM values and the TRIO values again are just nothing that's worth writing home about. To be honest with you, you can see here these peaks.
So this peak here of 2306 is sitting in probably quite fresh rock here. And it's just a small discrete zone and everything else. If this is 2300, then all of these other results are pretty much sort of nothing. So... Yet not much exciting there.
Unfortunately you can see these dense zones here. Ultramafix. You know this explains most of your density everywhere else as well. So they've got a nice model here of a system and yep this is true.
This is what I said you can see that cyanides often occur and the outsides of the carbonotite often is like they'll normally sort of form a ring. You can see these in in magnetics and so forth but it doesn't look like they have anything here which is really super strongly supportive of that at all. Now the phosphorus here is often going to be high in ultramafic rocks and especially if they're appetite rich at all you're going to get a lot of this so calcium is going to be high, phosphorus is going to be high of course, iron is going to be high. you know these copper values as well like up around a thousand you know that's that's nothing sort of exceptional or to get excited about and uh you know nickel and other elements like that other elements associated with mafic units are all going to be elevated as well when we look at these rare earth numbers like i said using yttrium as a proxy you know you would want to see yttrium in the sort of the hundreds in order for it to be indicative of any significant sort of rare earth mineralization Lanthanum and Sirium, you know, obviously they're not worth anything at all.
And so, you know, these number 600, 700, they're no good, unfortunately. So a bit of a bummer for the team at Rincon. To be honest with you, they did have good targets. You know, they had good targets, they had really good ground, really perspective, and they went out and they gave it a real good crack.
And looks like there's nothing there from what we can see. And I'll be honest with you, that's completely fine. That is what happens with exploration companies. And you just got to keep going to make a, make a actual discovery, right? I mean, most exploration companies explore, explore, explore.
They have good targets. They follow the system and they end up with outmaking discovery. And that's the way it is, right?
You just, you just got to, the important thing is to know when to stop flogging your dead horse. So once you don't have good results at somewhere, you can find a thousand different reasons why you may have just missed the mineralization and keep going at it keep going at it and one of the hardest things is actually to know when to say ah we spent a lot of money on this we've tested it doesn't look like there's anything there it's disappointing let's move on it's just difficult decision for both geologists and for management to do but it is sign of good management as well when you do that and the next announcement from rincon gold exploration strategy commences at laverton Right, so straight away, nice shift to gold around Labrador as well. And I'll just have to say like, wow, one of the best gold districts.
around and if you want to make a gold discovery or an actual discovery this is 100% where I'll be looking straight away. So in this area there are soil anomalies there's there's gold everywhere I'm not going to lie there's gold everywhere a lot of it's been drilled. and followed up but not to the sort of level that I think is appropriate for modern day exploration and there's a lot of stuff that that deserves to be revisited here as well so this is is highly super prospective gold ground in my opinion and I actually expect you'll see some some good gold results as far as the soil sampling and and target generation come out of here so I think probably I'm you know once we get to the end of the copper coverage I will probably just switch over to and do gold coverage I think at this point we might do a little bit of lithium and uranium but you know we definitely have a gold focus and so you know perhaps we can keep Rincon in the the focus, which they may or may not be happy about. So that's it for Rincon.
Unfortunate, but that's just the way of it, right? And it's good to see them pivot to gold and chase there. I think that's a good idea.
All right, next we've got Encounter Resources, and here's an example of a successful explorer, right? So green, no-beam rare-earth mineralization expands. Well, if you know and you watch my reviews, I'm a big fan of green, and...
I almost want to say I told you so right I told you there was going to be mineralization here but no excellent result here and good drill intercepts and good grade as well so further assay results returned additional high grade no rare earth oxide mineralization including assays in the easternmost drill line 22 meters at 1.3 percent from 70 meters 22 meters is a is a nice thick intercept including two meters at 2.1%. So let's just do our quick little gold conversion. We'll use our discovery alert calculator to do that because that's the way that we roll. And it's always good to refer things back to a standard of gold price because it just helps to put everything into perspective.
So go discovery alert, go to tools. What are we looking at? We're looking at...
22 meters at 1.3 percent so 22 meters going to go to novium so you just go to discovery alert website go click on the tools this tool this calculator is free for everyone i've completely my brain sometimes is uh 1.3 that's what we're doing so novium 1.3 and it will give you here so gives you so 1.3 novium is the equivalent of 8.2 grams per ton gold which is fantastic and the total gram times meters if you do a gold equivalent of that is 180 now when we're looking at gold projects if you get a drill intercept above 150 that's a banger of an intercept right that's like a that's like a discovery that's like yep this is a genuine gold intercept with a sort of amount of gold in the drill hole that generally carries sort of projects right so when we're looking at that 180 here you can sort of know all right that's a banger of an intercept and a good intercept so if you're ever looking at um if you're ever looking at companies results and you just don't know okay how valuable is this what does this actually mean because the commodity not used to go to the discovery alert web page and just use this tool there are a lot of different other commodities here not all of them of course but if there's one here that's missing that you you know want them you can just send them an email and um and they'll generally try to add it in there as well so there are these other tools as well a residual grade calculator this is where where if you've got an intercept of say, 40 meters at 60 grams per ton, and it includes two meters at 200 grams per ton, you can put these lengths in here and it will remove that super high grade and just tell you what's left in the rest of the hole. So this just sort of helps you to avoid, some companies will sort of high grade longer intercepts by averaging out that super high grade intercept across a length to make it look better than what it is. But this is a tool you can use.
use to work that out visual logs estimator as well companies when they put visual log estimate in the back there i estimate one to three percent of chalcopyrite or whatever it is you can see the minerals here this will tell you what that generally sort of will calculate out to which is excellent and if you want to do sort of back of the envelope resource calculations on different projects you can do this here as well now i think Half of these tools are for the members only, probably the other half are free. So if you know this is the sort of thing, apart from the discovery alerts, they send you every morning all the ASX announcements that pertain to discoveries, drill intercepts, particularly drill intercepts. they send those directly to your email so you don't have to keep hunting for everything constantly but yeah if you want to sort of work out how you can sign up to Discovery Alert there's a 10% discount code in the description below and I just find it super valuable. So yep, that is all good.
Super valuable, eight and a half grams per ton roughly there. So very nice. All right, RC drilling will commence in August to just test the depth, see how they've gone through.
They've done sort of shallow air core drawing first. They found that there's mineralization there. They found they're in the right environment and then they come back.
Now they've got a justification too with the RC rig to do the deeper drilling. That is my end. in most exploration geologists approach to exploring where it's relevant right it's not always the most relevant approach because some things are deeper of course you know your deepest area you can't do that but generally that's just the best approach to do it you always want to have a justification to go back and do your more expensive deeper drilling before you just commit to it straight off the bat so these intercepts here 22 meters at two percent 47 meters at 0.8 of a percent that's that's a good hole as well so they've got got maximum nobium meters as a percentage so the length of intercept times by the grade in the distance here 1.6 kilometers oh this is a big strike holy moly there's going to be uh so here where we can see i mean these are all good grades to be honest with you this is good this is nice pinches out here looks like it's pinching out there as well but there is so much room for infield drilling here it's crazy there's going to be absolute banger numbers coming out out of here when they infill this and field drill this this is going to be um this is going to be a big resource This is going to be good.
Initial reconnaissance air-cooled drilling has been completed at green with drill sections cleaned on 400 by 800 meter spacing and then 160 meter spacing. I love these guys. I'll tell you what, I absolutely love these guys.
Okay, this is just a tip for young players, all right? 160 meters along the drill lines. Do you know why they did 160 meters instead of 150 meters?
Because when you want to infill, 160 goes to 80. When you want to unfill 80, 80 goes to 40. When you want to infill 40, 40 goes to 20. And if for any crazy idea, you want to go to 10 meter space drill holes, it's super easy, right? If you did that at 150 meters, And then when you half that, now I'm doing 75 meter holes. Oh, now I want to half that.
Now I'm at 35.5, you know, 37.5 like meter space holes or whatever. It's just a tip for young players. When you do your exploration and you put your drill holes on a grid. grid and you work out your spacing, you want to be at, um, 80, 160 and 40, right? That's, that's the way you do it.
This is, that's like classic textbook exploration geology. And you can see people when they go to do now, sometimes if the work that's already been done there, it's already been done on say a hundred meter spacing. Well, you kind of stuck on it, right? You have to go down to 50 and then 25. It's not that big a deal, right?
Cause it's just numbers. But when you just one key. to exploring efficiently and cheaply is to keep things with your operationally as simple as you can all right and so when all of your drill holes are on just nice even zeros and just nice easy grids like that and easy divisions it makes it a lot harder for people to make mistakes in the field right keeping things efficient and and and process it this says to me straight away that these guys are just good operators experienced explorers and they know what they're doing right i love to see this this is this is really really good often you can't you know If you're an exploration geologist, you'll say, well, let's do 160. And the board will be like, oh, no, we think that's too big. Let's do it at 100. They don't care about that sort of stuff. But, you know, geez, that's nice and refreshing to see.
All right. Right. First assays received from White Space Air Corps Drilling.
I'm not a shareholder in any of these companies, by the way, just for the record. So, I mean, I wish I was a shareholder in Encounter, but I'm not. Yeah, just good results again, especially for first pass air corps.
had first pass air core drill results that were one quarter as bad as this they would still be good results these are really really excellent these are really really excellent i love this you know if you just go back and you watch my original reviews that's what i said didn't i green 100 i said this is a banger 100 i said this is one of the best targets that they've got and it's going to be sweet so that is all good All right, and then what else have we got? High grade Nubium extended across multiple targets. So more infield drilling. And again, two results are just, well, the results are even freaking better.
10 meters at 4%. What are we at with 4%, right? Let's do this.
10 meters, 4%. 25 grams per ton gold. right 254 AU gram meters equivalent that is that's that's discovery holes you know that is just absolutely great that is awesome and fantastic you would be so happy if you were these guys not gonna lie let's just zoom in take a little look about how the mineralization is occurring as well now there's two kilometers here between here so if we look at this mineralization which goes up and through along here Jesus, that's a big, that's a two kilometer long strike of no beam minimization. That's really good. That's super good.
Here as well, open. Open at depth as well, they say. Open down here. Oh, whose ground is that?
Looney. Go straight into Looney. There we go.
So, you know, that's just, that's just excellent. All these lower results here on the outside, they'll make it into a resource as well. So this is going to be a big, fat, lovely win for Encounter Resources, which is excellent.
So, you know, I, I, Korean still had a lot of room to go and green has obviously just come in and become absolutely amazing. So I'm a big fan of that and these results. I'm, I'm stoked by this. This is great.
we don't need oh here we go on a Korean So you know what? We don't even need to keep talking about this. Not going to lie.
These are just good. This is a good result overall. And they've done excellent work.
And if you're a shareholder in this company, you should 100% pat yourself on the back. If you're an explorer in this area and you're trying to work out how you should approach your exploration, copy these guys. They know what they're doing and just delivered really good results.
So boom, big win there. Now. the only other company really in this area to talk about would be WA1 and obviously with Looney as well.
Now I haven't done a focus, a detailed review of WA1 and the resource yet, but I will, I am going to do that a hundred percent. It might actually come up sooner rather than later. I might just have to push it in before a copper company.
But since the announcement of the resource, there hasn't really been much news. There's a lot of this at this point. process now there's a lot of wheels to get spinning and those wheels once they're isn't the sort of general news that people would like to hear but it is super important to get things in motion and no doubt that's what they're doing here so i think i will come back and do a review of uh of looney and wa1 looney and their resource and let you know my thoughts there but um everything awesome and fantastic here no real significant news out of them so you I think that probably covers off on most of the main rare, I'm not rare earth, no beam explorers that I'm sort of after, uh, summarize Agramon, done nothing, uh, SUM, uh, well, they're progressing their no beam project still, uh, and the bulk sampling is going to be very interesting. Uh, I'm looking forward to seeing those results, super critical, uh, and it will allow them to put their drill results when they get there into context as well. uh, Rincon resources, disappointing results for them, uh, Avalon, and it's just disappointing unfortunately and but they have moved on to leviton and gold it seems quite quickly which is excellent i do like that approach and no point i don't think going back and spending more money in in that area they've they've they've spent a lot of money drilling this area and very little to show for it to be honest with you uh encounter once again nailed it and uh green i hate to say i told you so but told you so and um just more good results again so that is all awesome and fantastic so that's the nobium update folks i hope you found it to be of some value a bit quicker than the rare earth one and uh yeah if you're keen on nobium give a thumbs up for encounter resources that's for sure so that's it folks thanks for watching and uh we'll have more copper coverage and just individual reviews of companies projects coming out soon and hopefully now we're kind of caught up with some of the main companies that have come covered in the past.
So thanks for watching. I appreciate it.