ACM can earn up to 51% in the project. Pic: via Getty Images.
‘Outstanding’: Kula’s JV partner drills into high-grade rare earths at Rankin Dome
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- Kula Gold’s JV partner reports shallow and high-grade REE at Rankin Dome project in WA
- Auger sampling returned up to 1365ppm TREO and RC drill holes all intersected +1000ppm TREO
- Magnetic rare earths consistently make up 20% to 27% of the TREO intervals
- Follow up RC drilling planned
Special Report: Kula Gold’s JV partner Australian Critical Minerals (ASX:ACM) has reported some outstanding shallow and high-grade rare earth elements (REE) hits at the Rankin Dome project in WA.
Rankin Dome was originally explored for gold, but the focus shifted to critical minerals after shallow auger drilling in early 2022 identified anomalous lithium.
Later that year, a soil sampling campaign returned rare earths up to 1,080ppm TREO in 74% of the samples.
This led to the definition of a +8km2 rare earths target zone.
Lithium-focused Kula Gold (ASX:KGD) subsequently signed an agreement with Australian Critical Minerals which granted the latter the right to earn up to 51% in Rankin Dome project by spending $200,000 on exploration including at least 2,000m of reverse circulation drilling.
On completion of this requirement, the two companies will form a joint venture with Kula having the option to retain a 49% interest and contribute to the project’s development.
KGD has now welcomed the latest round of assays, with the shallow auger sampling program returning up to 1365ppm Total Rare Earth Oxide (TREO) and every hole in the first RC program at the JV intersecting intervals greater than 1000ppm TREO.
+1000ppm TREO and 20% magnetic rare earths
ACM completed a 254-hole high-definition auger sampling program over approximately 2.5km2, which has clearly delineated a substantial rare earth anomaly, with a total of 132 of 258 samples returning assay results up to 1365ppm TREO.
All six RC drillholes returned thick continuous high-grade TREO (total rare earth oxides) with several ending in mineralisation – and all with intervals greater than 1000ppm TREO.
Notably, magnetic rare earths praseodymium (Pr) neodymium (Nd) terbium (Tb) and dysprosium (Dy) comprise 20% to 26% of significant result intervals. Highlights include:
- 20m at 1003ppm TREO from 9m; Magnet Rare Earths =21%; Pr+Nd=19% including, 5m at 1637ppm TREO from 11m; Magnet Rare Earths =22%; Pr+Nd=20% (RDRC001);
- 35m at 1009ppm TREO from 6m; Magnet Rare Earths =22%; Pr+Nd=18% (RDRC002);
- 3m at 1110ppm TREO from 18m; Magnet Rare Earths =21%; Pr+Nd=19% (RDRCOO3);
- 15m @ 965ppm TREO from 5m; Magnet Rare Earths =24% ;Pr+Nd=20% (RDRC004)
- 35m at 1119ppm TREO from 7m; Magnet Rare Earths =22%; Pr+Nd=18% of TREO (RDRC005); and
- 111m at 979ppm TREO from 3m; Magnet Rare Earths =23% ; Pr+Nd=21% of TREO (RDRC006).
“These outstanding results from ACM’s maiden drilling program confirm the prospectivity on the Rankin Dome project,” ACM MD Dean de Largie said.
“Significantly the magnetic rare earths consistently make up 20% to 27% of the TREO intervals.”
Follow up drilling planned
The maiden RC drilling program has clearly defined new drill targets with the anomaly open to the north and south – with follow up RC drilling now being planned.
This will also be extended to test the TREO delineated by the auger sampling program.
“The high-definition auger sampling brings great clarity to the NW sector,” de Largie said.
“The substantial consistent strike lengths of highly anomalous near surface geochemistry in the auger area and consistent anomalous grades returned from the RC drilling is a significant result over a broad area and validates the approach taken by the company.”
Rankin Dome Project consists of three exploration licences in the Youanmi Terrane, with exploration currently underway across all three tenements.
This article was developed in collaboration with Kula Gold, 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.
