• Latest assays for the Stage 1 drilling program at Sandy Mitchell returned an average TREO, yttrium and scandium grade of 514ppm
  • Ark Mines reported a maximum grade of 3,525ppm from latest drilling campaign in North Queensland
  • These results, along with Stage 2 drilling, will form the basis of a maiden resource due later this year

 

Special Report: New drilling results at Ark Mines’ Sandy Mitchell project confirmed rare earth elements (REE) and heavy mineral intersections in every metre sampled, consistent with previous hits at a slightly higher grade.

Ark Mines (ASX:AHK) reports the ongoing receipt of assays from the 144-hole Stage 1 drill program at Sandy Mitchell in North Queensland continue to impress, with the latest batch of results showing another upgrade in total rare earth oxide (TREO) grades and the emerging quality of mineralisation.

An average grade per-metre for TREO, plus scandium and yttrium, returned 514ppm. The maximum grade recorded was 3,525ppm.

The average zircon oxide grade for every metre assayed is now 435ppm with a maximum grade of 2,388ppm.

AHK says the final assays for the Stage 1 program are due in the coming weeks, prior to first assays from the 2,426m Stage 2 program which extended average metre depths from 10.5m to 12.9m.

Ark Mines (ASX:AHK)
Sandy Mitchell Rare Earth and Heavy Mineral project location. Pic via AHK

 

Moving towards a maiden resource

AHK executive director Ben Emery says the results from the Phase 1 program continue to validate the company’s development strategy for Sandy Mitchell, which is based on low-cost, straightforward beneficiation by gravity processing.

“Recall that the initial round of beneficiation test work carried out in November was already returning a commercial grade rare earth concentrate of 51.9% TREO or 519,000ppm,” he says.

“These assays represent a significant increase in REE grades, which bodes well for our processing strategy.

“The whole team is excited over what this means for the project as we now move towards a maiden MRE at Sandy Mitchell later this year.”

Ark Mines (ASX:AHK)
Sandy Mitchell initial resource drilling areas showing hole collar location, colour coded by drilling stage and showing which holes have full or partial assay return to date. Pic via AHK

 

PFS work ramps up

The maiden resource, which will include results from both the Stage 1 and Stage 2 drilling programs, is expected to form the basis of a pre-feasibility study (PFS).

AHK says the study will be prepared in collaboration with third-party mineral processing specialists to optimise future project economics.

 

 

This article was developed in collaboration with Ark Mines, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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