RareX’s deeper, high-grade rare earths zone set for further drilling, high-grade silver intercepted
Link copied to
In what may well be a sign of things to come, RareX has discovered additional high-grade primary mineralised zones ahead of a major new drilling push at Cummins Range.
These include a deeper high-grade zone discovered in hole CDX0018, which intersected a 21.9m interval grading 1.7% total rare earth oxides (TREO) from a depth of 275m down-hole that includes a higher grade interval of 6.4m at 3.5% TREO – the deepest intercept to date.
Notably the assay from this hole returned low phosphate content, which is an indicator that bastnasite – an easily processed form of rare earths – is present.
CDX0018 is part of the final batch of drill results from RareX’s (ASX:REE) 2021 diamond drilling program.
Other holes also returned notable results with CDX0017 – a redrill of CDX0002 that was lost at 135m – intersecting significant silver in the main fault zone with 5.9m at 1.5% TREO and 222 grams per tonne (g/t) silver while CDX0019 intersected significant primary mineralisation of 27m at 1.81% TREO including 5.6m at 4.81% TREO in the main breccia zone.
CDX0017 is 40m southeast of hole CDX0012 that had also intersected high-grade silver and the company is currently assessing this silver potential.
The results add confidence to the recently announced exploration target of between 23Mt at 1.6% TREO to 41Mt at 2.4% TREO and highlight the potential to expand the existing resource of 18.8Mt at 1.15% TREO and 0.14% niobium oxide.
“The final batch of assays from the diamond drilling have been received, and they continue to support the huge growth potential in the primary zone, with new zones continuing to be discovered at depth,” RareX managing director Jeremy Robinson.
“This gives us great confidence in the outlook for Cummins Range as we prepare to embark on the next major phase of resource expansion drilling, commencing in two to three weeks.
“This next phase of exploration will be designed to convert the Exploration Target into JORC Resources and to elevate the Project into what we believe it represents – a top-3 rare earths deposit in Australia and one of the largest and most significant new development assets globally.”
The next phase of drilling is set to begin in April.
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.