This shows the actual rock grade (as it is with no processing) of the pipes appears to be in the 1.5-2.5% range from this sampling. I'll point out that sampling isn't the usually the most reliable indicator, but the first samples had enough material taken to do some initial mets, so I feel that there is some reliability in these results today. Drilling is obviously required to prove it and has been planned. Most other ASX explorers have rock grades of less than 1%, with many below 0.5% (as seen from the bottom axis of the diagram on page 4 of the ann). These pipes look like 1.5%+ which could be very significant.
The ore usually goes through an initial process which can remove some of the material and undesirable impurities through an initial simple/basic refining process (creating a product that can be further processed more efficiently). This results in the 'concentrate' and a higher V2O5 grade (Vanadium Pentoxide). (vertical axis on same diagram)
TNO's rock grade is already higher than the better concentrate grades out there (much better than some) before undergoing this first process. So this would likely result in less ore needing to be fed to obtain a similar outcome (or the same amount of ore for a greater outcome). It may not result in a massive jump from rock grade to concentrate grade like some ore's will when this is looked into further, but I doubt that it will see a drop.
The much more important part I think is the actual mets, as these impact the ease of further processing into the final product/s. This is the crucial bit that I feel most don't realise yet, as it will impact things such as capex. Having the best V grades isn't necessarily great if you require massive capex and complicated processing. Having great mets are crucial and that is why I am invested here for vanadium, as I think this will be proven here. The grades are a very nice bonus to have in my view that may multiply the benefits of the mets (should this be proven).
I'm still learning bits and pieces about this, so if anyone can correct any of it please do.
