Mt Malcolm adds REEs to the target list at the Malcolm project
Mt Malcolm can now add rare earth elements to the suite of commodities present at its Malcolm project near Leonora, Western Australia.
Recent reconnaissance and historical database examination has identified enriched and anomalous light rare earth elements responses within at least seven tenements including Mt Stewart, Sunday-Picnic, Malcolm Dam and the Malcolm Mining Centre.
While not a replacement for laboratory analysis, portable XRF has returned results such as 0.38% cerium, 0.21% lanthanum, 0.15% neodymium and 0.05% praseodymium in a region with REE exploration and production.
These include the third party Mt Weld project to the east along with Redlings and Mt Stirling to the west.
Mt Malcolm Mines (ASX:M2M) notes that the anomaly, which is open to the south and west towards the potential intrusive source, has a magmatic signature which is fertile for REE.
Geophysics has also indicated that the anomaly is located within a favourable geological setting.
The company plans to carry out another round of sampling to rapidly sweep the remaining outcrops covering areas of highest REE prospectivity. Existing pXRF significant results will be confirmed by lab-based full suite REE analysis.
Should this successfully validate the exploration model, Mt Malcolm will ramp-up exploration starting with detailed geophysics to understand the size and nature of the proposed magmatic centre.
This article was developed in collaboration with Mt Malcolm Mines, 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.