Drilling results for **base metals** are typically reported in *percentage per tonne (%)*, while **precious metals** are reported in *grams per tonne (g/t)*. As an investor, it’s crucial to understand if a drill result indicates low-, medium-, or high-grade mineralization, as this can provide insight into the potential financial outcomes of the deposit.

After analyzing and interpreting various drill reports to differentiate between low-, medium-, and high-grade mineralization, I have summarized **my findings** in the following table:

## Low Grade, Medium Grade and High Grade Mineralization

ⓘ If on a mobile device, swipe the table to see all data points.Mineralization | Symbol | Low Grade | Medium Grade | High Grade | |
---|---|---|---|---|---|

Base Metals | Cobalt | Co | less than 1% | 1% – 2% | over 2% |

Copper | Cu | less than 0.5% | 0.5% – 1.5% | over 1.5% | |

Iron Ore | Fe | less than 25% | 25% – 35% | over 35% | |

Lead | Pb | less than 2.5% | 2.5% – 10% | over 10% | |

Molybdenum^{1} | Mo | less than 0.15% | 0.15% – 0.5% | over 0.5% | |

Nickel | Ni | less than 1% | 1% – 2% | over 2% | |

Zinc | Zn | less than 2.5% | 2.5% – 10% | over 10% | |

Energy | Uranium^{2} | U_{3}O_{8} | less than 0.15% | 0.15% – 0.40% | over 0.40% |

Fertilizers | Phosphate Rock | P_{2}O_{5} | less than 25% | 25% – 30% | over 30% |

Potash | K_{2}O_{} | less than 20% | 20% – 25% | over 25% | |

Precious Metals | Gold | Au | less than 1.5 g/t | 1.5 g/t – 5 g/t | over 5 g/t |

Palladium | Pd | less than 1.5 g/t | 1.5 g/t – 5 g/t | over 5 g/t | |

Platinum | Pt | less than 1 g/t | 1 g/t – 2.5 g/t | over 2.5 g/t | |

Silver | Ag | less than 10 g/t | 10 g/t – 50 g/t | over 50 g/t |

## Comparing Drill Results

It’s important to note that grade alone isn’t the only factor to consider, as many profitable mining operations worldwide are extracting low- to medium-grade ore. Instead of solely focusing on the grade, it’s better to **use gram-meters when comparing drill results** from different companies. For example:

- Company ABC reports drill results: 1 meter, containing 250 g/t Gold = 250 gram-meters
- Company XYZ reports drill results: 50 meters, containing 5 g/t Gold = 250 gram-meters

As shown above, both companies report the same amount of gram-meters. To *determine which project would be the better investment*, you’ll need to consider **mining costs**, **break-even analysis**, and **metal value**. Comparing these factors can help you draw your own conclusions about each project’s potential. To learn more about mining costs, break even analysis, and metal value, I recommend reading the relevant pages by clicking the provided links.