The Jongju REE Target has the potential to be an “economic dynamo” in the region once the extensive exploration and planning process is completed.
The deposit is estimated to be the largest, single LREE target in the World, and will need to be explored further to realise its full potential. Based on the recommendations within Report 1, the initial exploration is planned to include 96,000m (Phase 1) of core drilling. These drill targets will be defined by ground-based geophysics and further detailed mapping and trenching.
Our experience is that, during exploration, the local economic influence on socio-economic levels is 1 to 10 (i.e. 1 person employed and earning a wage will be able to support or influence (financially) 10 dependants or other persons). Thus, during Phase 1 of the Jongju exploration project, the project will directly and indirectly influence approximately 800 people, while when the further phases will influence approximately 3000 people directly.
The indirect affect this project will have can be assumed to be 1 to 15 (i.e. 1 person employed and earning a wage will affect at least 15 people indirectly through participating within a free market system (i.e. transport, clothing, food, food stuffs, services, secondary infrastructure, etc.).
During the initial stages of exploration, training will be conducted in terms of:
- Involvement in the exploration organisation and system;
- Training in terms of specialities, including rotations to enhance different skills;
- Training of higher-technology (i.e. sampling, sample preparation, GPS technology, hand-held XRF, IT, database technology and software);
- Training in terms of reporting and responsibilities, and how different responsibility fields impact on others;
- Support services like drilling, driving, security, maintenance, core handling and storage, sampling, sample processing, HR management, financials, etc.;
- Company and State systems with reference to accumulating basic socio-economic data as base to future reference.