RareX strikes it out of the park with bonanza rare earths hit
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Special Report: RareX’s drilling continues to intersect consistent thick, high-grade mineralisation at its Cummins Range rare earths project in Western Australia.
The latest assays from its infill and extensional drilling returned a bonanza hit of 109m at 3.6 per cent total rare earth oxides (TREO) and 0.44 per cent niobium from 24m.
It also struck exceptional high-grade zones such as 13m at 10.7 per cent TREO and 1.04 per cent niobium.
It gets better.
This impressive results also follows up on and bests the recent 90m at 3.8 per cent TREO and 0.3 per cent niobium hit that RareX (ASX:REE) had described as the “best-ever” intercept at the project.
Other recent results include 37m at 1.4 per cent TREO and 0.2 per cent niobium from 21m.
The company added the latest results have confirmed the northwest trending channel of mineralisation encountered in previous drill holes and extended the zone of high-grade mineralisation by 60m to 130m below surface.
“These impressive results provide strong support for the potential both to upgrade the resource and to define a high-grade component within the broader resource,” managing director Jeremy Robinson said.
“Understanding the controls on the high-grade mineralisation in the weathered zone will also assist with targeting potential high-grade primary mineralisation in follow-up drilling to further expand the overall size of the resource.”
Assays are pending from a further 38 holes.
Cummins Range has a resource of 13Mt grading 1.13 per cent TREO with valuable neodymium and praseodymium (NdPR) making up 22 per cent of the rare earths.
NdPr is commonly used in the manufacture of permanent magnets that are essential for electric vehicle motors and offshore wind turbines.
RareX has also discovered significant amounts of niobium that can be produced as a valuable by-product.
Niobium features on a list of minerals considered critical to Australia and the US, and is used in steel to produce an alloy that has applications in jet engines and oil and gas pipelines.
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.