Because you need the elucidation, you can either read the company's explanation, or this one.
Originally, to save money, LSR sampled its holes via 4m composite. This is done via a scoop from the bulk reject. It is done this way because if you do not know where your mineralisation sits, you can spend 4x as much money by assaying each metre ($24/m vs $6/m via 4m composites) only to find out the hole was a dud.
Generally a result in the 4m composite over 0.1g/t is then resampled. This is done by taking the sample bags which have been split via cone or riffle splitter off the cyclone.
Composite sampling is notoriously unreliable and often composite samples are way off the mark of the single metre samples when the single metre samples are assayed. So to get 74g/t in a 4m composite one would ordinarily doubt whether this would be repeated by anaylsing the 1m samples.
Note that a 4m composite is NOT the same sample as a 1m sample. Yes, it samples the same interval as the 4 x 1m samples, but since it is done with a scoop (not representative and often not repeatable) and it represents 4 metres, it is literally a different sample.
So, yes, there is not much difference between the 1m splits and the 4m comp. That is, generally, to be considered somewhat of a miracle; usually it varies by >20%. Add to this the face that 2 of the single metres are 5 ounces a tonne, and that high grade gold is nuggety (hard to repeat), the fact the 1m splits are anywhere near the composite assay is remarkable.
The company is not trying to pull the wool over anyone's eyes. Stop characterising it as such.
LSR Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
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