Leeuwin Metals has identified a Rare Earth Elements (REE) anomaly from assays received from soil sampling at its Gascoyne lithium-REE project in WA.
Notably, the anomaly had highly anomalous concentrations of cerium, lanthanum and yttrium over 500m of strike, open to the North-West and South-East and coincident with a largely untested magnetic high.
“The results from our recent soil sample program are highly encouraging and provide further evidence that the Gascoyne region of Western Australia is under explored and highly prospective for Rare Earth Elements,” Leeuwin Metals (ASX:LM1) MD Christopher Piggott said.
“With Leeuwin’s focus on critical metals, the discovery of a cerium, lanthanum, and yttrium anomaly is highly significant, as these elements have crucial applications in various high-tech industries, such as renewable energy, and electronics.”
Growing regional REE and lithium potential
The Gascoyne region was historically significant for gold, base metals, tungsten, and uranium exploration, and is now garnering attention for its untapped potential for lithium and rare earth elements.
Successful exploration in the region includes that of Leeuwin’s neighbour Kingfisher Mining (ASX:KFM) who made the MW2 REE discovery in February which “adds to the attractiveness and potential of the Gascoyne Project,” the company said.
These assay results provide support for additional field work planned for September to expand on the areas of Ce-La-Y anomalism, driving further exploration and assessment of the project’s potential for REE and Lithium.
“The results support Leeuwin’s exploration approach, as we actively advance at all levels of exploration to add value within our portfolio through cost-effective and targeted exploration,” Piggott said.
“Planned work, together with active programs at the Jenpeg Lithium Project and the William Lake Nickel Project in Canada, will provide us with strong newsflow over the coming weeks.”
This article was developed in collaboration with Leeuwin Metals Limited, 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.