RareX awaits assays from 11,000m of drilling at Cummins Range ahead of pivotal resource upgrade
The company’s 2022 drilling program has wrapped up safely, laying the foundation for a major mineral resource upgrade targeted for Q1, 2023.
RareX (ASX:REE) managing director Jeremy Robinson says material progress is being made on multiple fronts with the development and evolution of the Cummins Range Rare Earths and Phosphate Project in Western Australia’s Kimberley region.
“The project is advancing rapidly towards the development phase and 2023 should see numerous key milestones achieved,” he says.
Metallurgical work is continuing and showing promising signs to achieve an upsized and simplified combined flotation product of rare earths and phosphate from the mine site with subsequent separation by magnetics.
The company says by focusing on monazite and apatite together and following a clay removal de-slime step, there’s potential to simplify the project from the one originally scoped out for the pre-feasibility study (PFS).
This work also allows for an increase in sales at the next study phase and will be supported by the mineral resource upgrade next year.
Power and land access negotiations and technical assessments are well underway with Pac Hydro and Horizon Power, the generator and distributor of the Ord River hydroelectric power.
A refinery powered by the Ord River hydro facility is envisaged at Wyndham Port, which would process the rare earth concentrate into two further products: a mixed rare earth carbonate (MREC) and phosphoric acid.
REE says with the delivery of a simplified, single interim product from the mine, the coastal infrastructure could be simplified further, allowing for the staged installation of refining capability, deferring capital, and reducing execution risk.
The negotiation protocol with the Jaru Traditional Owners has been signed and formal negotiations are underway following the formation of the Jaru Native Title Negotiation Committee and the appointment of lawyers.
A scope of works has been prepared for a community impact assessment which will be integrated with the heritage agreement in support of the Mining Licence application.
Meanwhile, baseline assessments for flora, fauna, soils, waste, water, and heritage are underway and preparation for next year’s surveys have begun.
This article was developed in collaboration with RareX, 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.