Mount Ridley’s REE mineralisation is widespread. REALLY widespread
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Mount Ridley’s goal of defining widespread clay-hosted REE mineralisation at its namesake project has received a shot in the arm with the intersection of the highest grades yet.
The result of 23m grading 3,688 parts per million (ppm) total rare earth oxides (TREO) from 6m in MRAC1053 at the Tyrell’s prospect is just one of many intersections returned from nine named prospects which have extended the mineralised footprint to more than 1,200km2.
Other notable results are 15m at 2,120ppm TREO from 15m in MRAC1234 at the Mia Prospect, 47m at 1,521ppm TREO from 33m in MRAC0955 at the Butch Prospect, and 12m at 2,178ppm TREO from 45m in MRAC1325 at the Fabienne Prospect.
The average assayed grade is 1,036ppm TREO with valuable magnet rare earths making up 26% of the total REE content.
While this is an indisputably positive result for Mount Ridley Mines (ASX:MRD), there is potential for further discoveries as the mineralised area remains open in all directions.
“With over 90% of assays now received, the regional drilling program has been an outstanding success in demonstrating widespread clay hosted REE mineralisation throughout the entire project area,” chairman Peter Christie said.
“We are very encouraged by these results with new targets discovered, higher grade and thicker intersections, and significant mineralisation occurring at shallower depths.”
He added that the results give the company confidence to commit to a substantial drilling and metallurgical program to take the project to the next level.
Mount Ridley is preparing to start a 50,000m step-out and infill aircore drill program and 1,000m of diamond core for metallurgical testing in the current quarter.
The latest drill results have extended the overall central REE corridor which includes the Winston’s, Keith’s, Jules’ and Vincent’s prospects.
Earlier assays from these prospects also returned excellent REE results.
Mineralised intercepts in this area form a zone of about 30km by 11km, reinforcing the company’s view that REE mineralisation is extensively distributed within the project.
It also identified new regional mineralised targets at the Fabienne, Butch and Mia prospects, which are located southwest and northeast of previously known mineralisation and confirmed targets at the Marcellus and Tyrrell’s prospects.
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.