Initial drilling at Cummins Range rare earths deposit highlights ‘exceptional growth potential’
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Recently completed drilling at RareX’s (ASX:REE) flagship Cummins Range rare earths project has confirmed the true width of the ‘Main Fault’ to be +40m — and identified a new mineralised position.
The 1,500m of reverse circulation (RC) drilling was designed to test both the company’s geological interpretation prior to diamond drilling and to test areas for new mineralised trends.
The program has proven to be successful on both counts, “highlighting the exceptional scope to grow the Cummins Range Mineral Resource”, RareX says.
Drilling on the north-western end of the Main Fault Zone exceeded expectations, intersecting wide zones of high-grade rare earths for a cumulative down-hole width of 88m in hole ‘CRX0063’.
This includes a higher-grade zone of 41m at 2.4% TREO and 0.51% Nb205, including 10m @ 4.1% TREO and 0.74% Nb2O5 in the interpreted Main Fault position.
A secondary zone below this also intersected 28m at 0.8% TREO and 0.24% Nb2O5 (true width) in fresh rock to the end-of-hole.
A follow-up diamond drill hole to test for mineralisation down-dip of this intercept will assist RareX’s geological team better understand the geological controls on the Main Fault Zone and to target further diamond drill holes.
These RC drill results have also confirmed the discovery of a second parallel mineralised structure called the Northern Fault with intercepts including 15m at 1.1% TREO and 12m at 1.1% TREO.
Further drilling is planned to test for extensions of this structure both along strike and at depth.
Diamond drilling is continuing with results to be provided to the market when available, the company says.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.