Mount Ridley is leaving no stone unturned with big rare earths drilling program
Link copied to
Mount Ridley has started an extensive resource delineation air core drilling at its namesake rare earths project near Esperance, WA.
The program of at least 50,000m will be drilled over the next two quarters to follow-up on the 101 hole Stage 2 regional program totalling 4,251m that was designed to identify areas with REE enrichment.
Assays are currently being carried out on the 2,816 samples collected under the Stage 2 program while pre-existing tracks continue to be refurbished to facilitate drilling.
Mount Ridley Mines (ASX:MRD) has also retained Perth-based Independent Metallurgical Operations to plan and oversee REE extraction test work as the first step towards the development of a process flowsheet.
Additionally, core from 20 diamond holes for extractive metallurgical test work are currently being cut and sampled by ALS.
“The key tasks for 2023 include resource delineation drilling and advancing metallurgical studies towards the development of a flow sheet for the extraction of rare earths,” chairman Peter Christie said.
“The company is well positioned to fund these work programs with cash and liquid security reserves of approximately $5.5 million.”
The resource delineation drilling, which follows the receipt of Programme of Works approvals from WA’s Department of Mines Industry Regulation and Safety, will begin at the Mia prospect on a 2,000m by 4,000m pattern.
This will progressively be closed in to a 400m by 400m grid as results warrant, a process that will be undertaken at all targets.
Further infill drilling will take place as required to enable JORC compliant Resource estimates to be completed.
The company had previously identified the presence of REE’s within a zone of about 30km by 11km at the Mount Ridley project.
Notably prospects include Fabienne, Butch, Mia, Winston’s, Keith’s, Jules’ and Vincent’s.
This article was developed in collaboration with Mount Ridley Mines (ASX: MRD), 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.