First paragraph is mostly correct. However, the drilling data does not so much refine the models, it provides the very basis. Anything before that (exploration targets) are just educated guesses based on geology, EM measurements etc.
Second paragraph... I don't think so. The deposits are just way too vast to convert them to resources within the scope of the current drilling campaign. It would take a long time and a lot of money to drill it all. I think we can expect another upgrade of about the same size in H2. Remember, the announcements always say that the deposits remain open at depth and along strike.
Hmm.. i might have a naive understanding of the way this works. Are there rules how much drilling is required? If EM measurements and geology constrain the rules, then we need some drillings to measure the concentration, etc. But looking at the drill holes, we should have enough data for most of it. At least to my untrained eye, there is no way we could see holes in the deposits.
In the tables of the announcement, we see that nunasvaara south is all probable. The other sites are all indicated and inferred. Maybe they only conducted the analysis for nunasvaara south and not for the others.
I know the deposit is open at depth, but that is true for the exploration target as well. So the thing that seems different between the exploration target and the current announcement is the volume that got paperworked. We will see more updates with the Niska drill results.
Also, looking at the map, it seems they will need to file for relocation of some of the mine refinary layout to make room for nunasvaara east. I bet there is some paperwork in the progress. Might be a reason we have not seen the processing concession yet.
