Heavy Rare Earths’ Cowalinya project is richer than originally thought
Heavy Rare Earth’s Cowalinya project is looking more valuable now after re-assaying of samples from aircore drilling in 2021 increased rare earth element grades by 3.8%.
The program, which re-assayed 729 two-metre composite samples from 102 aircore holes, delivered a length-weighted average total rare earth oxide (TREO) grade of 856 parts per million (ppm), up from the original average of 825ppm TREO.
Notably, the re-assayed average grade is significantly higher than the grade of the current Inferred Resource, which stands at 28Mt at 625ppm TREO contained within clay-rich saprolite.
Heavy Rare Earths (ASX:HRE) noted that the results confirm that routine two metre compositing for assay by Lithium Borate Fusion/ICP-MS should form the basis for future grade estimation of rare earths mineralisation from ongoing resource exploration and expansion drilling program at Cowalinya.
Several batches of saprolite and end-of-hole basement samples from the drilling program have also been delivered to the laboratory for assay, with first results expected to be reported next month.
The company is currently carrying out 10,000m of aircore drilling in 330 holes to the immediate west and southeast of the Cowalinya South resource.
This drilling density is designed to deliver inferred resources on an additional 11.5% of the area of the tenement, which could potentially deliver a significant uptick in resources given that the current estimate covers just 1% of the tenement.
Work is expected to be completed in December with samples to be dispatched on a fortnightly basis from Esperance to Perth for laboratory analysis.
This article was developed in collaboration with Heavy Rare Earths, 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.