I am not a geologist but these are low grades at shallow depth (aircore drilling is used for near surface). RXL are hoping that the indications across the various drills will lead to better grades at deeper levels. Previous results from diamond drilling at Troy gave two holes with a section at 1.0% and 2.2% respectively while there is already a JORC defined resource of ~9 MT Ni at the Olympia prospect at Collurabbie with an average grade of 1.63% Ni. In other words, still early stage exploratory work. I am happy to be corrected if I have misinterpreted.
Most of the existing JORC resource is held at Mt Fisher at depth (~50 MT Ni) and Collurabbie is a recent area for RXL's exploration.
I am not a geologist but these are low grades at shallow depth...
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