Heavy Rare Earths Cowalinya project shows ‘blue sky’ potential with new assays
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High-grade intersections with grades of up to 5192ppm TREO at HRE’s Cowalinya have demonstrated the potential to add 14km of mineralised strike to the newly discovered Western Zone.
Assays have been reported for the first time from 41 vertical air core holes drilled along existing access tracks in the northern and central parts of E63/1972 to the north and west of the Cowalinya North resource.
Significant new drill intersections include 12m at 1690ppm TREO from 16m, including 2m at 5192ppm TREO from 20m, 7m at 1303ppm TREO from 7m, 10m at 1286ppm TREO from 16m, and 8m at 1175ppm TREO from 31m, including 2m at 3449ppm TREO from 31m.
Heavy Rare Earths (ASX:HRE) executive director Richard Brescianini says these new assays add an exciting ‘blue sky’ element to the Cowalinya project and are a significant development.
“These results build on our success in demonstrating the widespread and coherent nature of rare earth mineralisation within our ground,” he explains.
“Results reported by HRE since last October underline the potential for a material increase in resources at Cowalinya.
“The work aimed at achieving this has now commenced and will be completed over the coming months.”
A second area of highly encouraging rare earth assays lies near the intersection of the 4.8km-long north-south drill line B-C and the 5km-long east-west drill line C-D.
This area is 6km west of Cowalinya North and is close to HRE’s recently acquired tenements E63/2144 and E63/2145.
Standout results here include 18m at 691ppm TREO from 17m, 13m at 636ppm TREO from 14m, and 12m at 644ppm TREO from 14m.
The assays from holes drilled along the access tracks will not initially be used in the estimation of mineral resources but could form the basis of an exploration target for the Cowalinya project and a future focus for rare earth exploration and definition drilling.
HRE believes a block of 10 mineralised holes, closer to and immediately west of the Cowlinya North resource, also has the potential to add to the project’s resource inventory.
Heavy Rare Earths has engaged a resource consultant to update mineral resources and estimate an exploration target for the project.
The resource update, which will use assays from 400 holes drilled in the 2022 campaign that delivered the major rare earth intersections, is targeted for completion in Q3.
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.