Desert Metals stumbles upon high-value rare earth discovery at Innouendy
Link copied to
Samples from reconnaissance aircore drilling at Innouendy have returned rare earth element intersections close to surface within the lateritic and saprolitic clay layers.
A total of 16 samples, 15 four-metre composite samples and a one-metre sample were resubmitted for analysis for the full suite of REEs following the out-of-range cerium results (>500ppm) returned in the initial analysis.
Around 13 of the 16 samples resubmitted returned Total Rare Earth Oxide (TREO) values higher than 1000ppm with six samples higher than 2,000ppm including a 16m intersection of mineralisation in hole INAC027 comprising:
Hole INAC025 interested 4m at 2,786ppm TREO from 16m and hole INACO04 hit 4m at 2,428mppm TREO from 36m.
Importantly, Desert Metals (ASX:DM1) says the values are isolated samples and are not representative of continuous intersections.
Adjacent 4m samples have been re-submitted for analysis with results pending.
DM1 managing director Rob Stuart said the aircore program was designed to follow up on encouraging soil anomalies and EM data that may indicate the presence of nickel-copper-PGE intrusives.
“Several encouraging nickel occurrences were detected,” he said.
“While we were aware that other companies were actively exploring for REEs on neighbouring licences and knew there was a possibility of intersecting REE mineralisation, the drill spacing and collar locations of our recent program were not designed specifically to test for it.
“We are extremely encouraged by the grades and intersections of REEs at Innouendy and by how well these compare with similar announcements made recently by other companies.”
Stuart added the apparent extent of REEs makes this an exciting opportunity to execute a program that is now designed to define the mineralisation.
“This will also assist in defining the extent of nickel and PGE mineralisation on the Innouendy project.”
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.