Magnetic’s rare earths ambitions have been brought sharply into focus after initial drilling at its Trayning tenement in WA returned intriguing, shallow clay-hosted mineralisation.

Results from the wide-spaced drill program are 52m grading 1,096 parts per million (ppm) total rare earth oxides (TREO) from a down-hole depth of 12m, 32m at 1,379ppm TREO from 28m and 40m at 1,049ppm TREO from 28m.

Notably, about 20% of the TREO consists of high-value magnet rare earths – particularly neodymium and praseodymium – that are used for electric vehicle motors and wind turbines.

Magnetic Resources (ASX:MAU) notes the thickest and highest grade results are located along the 2km long east-west trending aeromagnetic anomaly in the southwestern part of the licence.

While exploration at Trayning is still at a very early stage, the results are certainly encouraging as they compare very favourably with other clay-hosted REE projects which are currently being explored by Australian explorers.

This is especially true given that the drilling was originally intended to assess the area for its copper-nickel potential.

“These initial AC results are very positive considering the broad spacing used,” managing director George Sakalidis said.

“The thicknesses are substantial and the grades compare favourably with existing REE ASX companies, including 52m at 1096ppm TREO from 12m in MTRAC011. Most of these intersections are open to the North and South.

“The recognition of these prominent EW aeromagnetic highs associated with shallow clay zones within a new potential REE region has allowed Magnetic to apply for two extra tenements (198 sq km) with total size of the tenements being 523 sq km. Further drilling is being planned with numerous assays awaited.”

Further activity

Analysis of further samples from the drill program for REEs is ongoing along with planning for further drilling to be carried out once cropping of the farmland is completed towards the end of the calendar year.

It has also applied for two nearby exploration licences with a view to expanding the search for shallow clay hosted REE mineralisation.

Koorda tenement has a significant 12km arcuate EW aeromagnetic anomaly, which appears to be a favourable feature for REE mineralisation in shallow clay zones in this district, while Korrelocking hosts a 2km long linear EW aeromagnetic anomaly like Trayning.

Planning for preliminary test work to examine the leaching characteristics and mineralogy of the REE enrichments is also underway.

 

 

 

This article was developed in collaboration with Magnetic Resources, 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.

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