Hi all,
I thought some readers of this forum might like to gain an understanding of the size of the CUX rare earth resource at Charlie Creek. I intend to show that the Charlie Creek resource is a very substantial even when compared to peers.
The first point to note is the:
"JORC - Indicated and Inferred resource of 800 MT defined from under 1% of alluvial fan areas within Crosslands Exploration titles" (Presentation to Strategic Metals and REE Conference, Sydney, 27 Feb., 2013 page 6)
The above JORC resource of 800 MT includes 114,050 tones (Total Indicated Resource) and 121,000 tonnes (Total Inferred Resource) of TREO. (Investor Presentation April 2013 page 10)
Therefore, from the figures provided by the above presentation a total of 235,000 tonnes of TREO are shown in the JORC defined resource at Charlie Creek, which was only defined on 1% of the alluvial fan areas of Charlie Creek.
I'm going to use the figure provided by Ltl as to the percentages of CUX's TREO in his post # 14512440 and use those percentages to calculate the amout of each rare earth element from the JORC defined TREO resource of 235,000 tonnes being:
Nd - 14.93% - ((235,000 x 14.93)/100) = 35,085.50 tonnes
Eu 1.20% - ((235,000 x 1.20)/100) = 2,820 tonnes
Tb 0.37% - ((235,000 x 0.37)/100) = 869.50 tonnes
Dy 2.11% - ((235,000 x 2.11)/100) = 4,958.50 tonnes
Y 12.90%- ((235,000 x 12.90)/100) = 30,315 tonnes
Remember this is for only 1% of the alluvial resource of Charlie Creek. Let's look at what is possibly an extreme case of 100% of the alluvial resource of Charlie Creek.
Nd - 14.93% - ((235,000 x 14.93)/100) x 100 = 3,508,550 tonnes
Eu 1.20% - ((235,000 x 1.20)/100) x 100= 282,000 tonnes
Tb 0.37% - ((235,000 x 0.37)/100) x 100 = 8,6950 tonnes
Dy 2.11% - ((235,000 x 2.11)/100) x 100= 495,850 tonnes
Y 12.90%- ((235,000 x 12.90)/100) x 100= 3,031,500 tonnes
In comparison let us examine NTU's resources to gain an indication of the size of the CUX resource in context with another proposal.
The NTU's Mineral Resource Estimate October 2014 from NTU's Quarterly Activity Report for the quarter ending 30 September 2014 page 4 states Total Indicated and Inferred TREO resource as being 52,372 tonnes.
Using the corrected (by Ausheds) Ltl's percentages again to determine the total amount of NTU resources:
Nd - 3.15% - ((57,372 x 3.15)/100) = 1,807.22 tonnes
Eu - 0.44% - ((57,372 x 0.44)/100) = 252.44 tonnes
Tb - 1.32% - ((57,372 x 1.32)/100) = 757.28 tonnes
Dy - 8.79% - ((57,372 x 8.79)/100) = 5,043 tonnes
Y - 58.21% - ((57,372 x 58.21)/100) = 33,396 tonnes
So lets do the comparison:
Nd: (CUX - JORC) - 35,085.50 tonnes: (CUX - JORC x 100) - 3,508,550 tonnes; (NTU - JORC) 1,807.22 tonnes
Eu: (CUX - JORC) - 2,820 tonnes: (CUX - JORC x 100) - 282,000 tonnes; (NTU - JORC) 252.44 tonnes
Tb: (CUX - JORC) - 869.50 tonnes: (CUX - JORC x 100) - 8,6950 tonnes; (NTU - JORC) 757.28 tonnes
Dy: (CUX - JORC) - 4,958.50 tonnes: (CUX - JORC x 100) - 495,850 tonnes; (NTU - JORC) 5,043 tonnes
Y: (CUX - JORC) - 30,315 tonnes: (CUX - JORC x 100) - 3,031,500 tonnes; (NTU - JORC) 33,396 tonnes
CONCLUSION
There can be not doubt that Charlie Creek has the potential to be a substantial resource. Of course this is only a rough estimate and does not take into account such issues as recovery rates.
Cheers,
Stoops
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