Might give you an idea of what they were doing. There was a map of where the drill cores were done and I don’t like the layout/pattern of cores. Normally you try a ‘matrix’ of cores to try to find the edges. I the referenced core results showed that some of the samples were taken right next to each other and most of them were in a single line (actually two closely spaced lines).. not a matrix. It was almost like they didn’t want to find a core that disagreed with their premise of wealth under the ground.
Found info that cost per foot of exploratory drilling averaged $2.16 in 1994. (Encyclopedia of Chemical Processing and Design, pg 20 under surface drilling, exploratory). Lets double it for current price (overestimating). Most of those exploratory holes that REE ran only go down less than 100 feet. Cost would not be a driving factor since that would be a $500 core for 100 feet of depth – not including assay cost. Most of the drilling cost is in getting/setting up the rig. If they run multiple holes, volume makes it cost less. Some of the rigs are also tractor/bulldozer structured – so road access is not an issue. Looks at this, their pattern of holes and depth make me very suspicious (all near each other, all along/near the road).
