Desert Metals’ clay hosted rare earth discovery at the Innouendy project in WA is a whole lot bigger thanks to several outstanding high grade drilling results.

Desert Metals (ASX:DM1) is now up ~100% since late August, when it first announced that Innouendy could be The Big One.

New, high-grade assays from a recently completed 12,745m drilling program have now “materially expanded” the discovery to 21km long and 2.5km wide.

New results include:

  • 20m @ 1834ppm from 20m
  • 16m @ 2059ppm from 32m
  • 19m @ 1373ppm from 8m
  • 16m @ 1365ppm from surface, and
  • 4m @ 3314ppm from 32m.

So far, these intersections within the weathered clay zone appear to be thick and continuous across the 21km by 2.5km area “indicating dimensions of a very substantial rare earth system”.

“These results greatly expand the REE footprint at Innouendy and the dimensions show the potential for the project to become a major supplier of rare earth elements,” DM1 managing director Rob Stuart says.

“As the global economy moves to decarbonise and electrify, the demand for REE’s, a vital component in electric motors and turbines, is forecast to increase dramatically,” he says.

“Desert Metals is delighted to potentially be on the cusp of this big future.

“These results show that the new discovery stretches over a vast area, is thick and is high grade for clay style mineralisation.”

Mineralisation remains open in all directions, with assays still pending for ~6,600m of drilling.

New 12,000m-15,000m drilling program planned

DM1 is already planning an extensive follow-up resource definition drilling program.

It is anticipated the upcoming program will be similar in size to the one recently completed for circa 12,000 – 15,000m.

“We are very excited about what will be uncovered over the coming weeks and months as we begin our definition drilling and work towards defining a resource,” Stuart says.

 

 

 

This article was developed in collaboration with Desert Metals, 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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