RareX’s primary rare earths mineralisation hit is a game-changer
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The Cummins Range project already hosts a significant and high-grade rare earths resource but RareX’s latest drilling suggests that there’s plenty more to be found.
The latest revelation comes after a diamond drill hole intersected primary rare earth elements and niobium mineralisation for the first time at the project.
Here’s why this is significant. To date, the current resource of 18.8 million tonnes grading 1.15% total rare earth oxides (TREO) and 0.14% niobium oxide has been based on oxide mineralisation that was previously interpreted to have been upgraded through weathering.
By hitting primary mineralisation, RareX’s (ASX:REE) ongoing diamond drilling program has now turned that theory on its head, highlighting the potential to find high-grade rare earths and niobium mineralisation below the oxide.
Managing director Jeremy Robinson said the intersection of primary mineralisation was an important and exciting development that amounts to a potential game-change for Cummins Range.
“If we can continue to expand the primary zone at depth, it has the potential to result in a substantial uplift in grade as well as tonnes – providing a clear pathway for further rapid growth in the current mineral resource,” he explained.
“We are continuing to evaluate this potentially high-grade primary zone with further diamond drilling and look forward to sharing the assay results with our shareholders.”
The company added that assays from a 3,000m reverse circulation program, which began in June to test for extensions to the known mineralisation both along strike and down-dip, is due shortly.
123.5m massive orange monazite forming on lower contact of a primary sulphidic carbonatite breccia within a larger 75m fault breccia at CDX0007. Pic: Supplied
The 3,000m diamond drilling program is aimed at evaluating the primary potential of the deposit for the first time ever.
Three holes were drilled for mining studies with one, CDX0004, intersecting a 67m fault breccia that had been previously interpreted from RC drilling as a well-mineralised saprolite zone that had rare earth elements upgraded via dispersion.
RareX notes that this fault breccia is located where a displacement fault is interpreted in the new geological model and could be the source of rare earths mineralisation as surrounding holes are also well mineralised.
This presents strong exploration upside with an unrecognised wide mineralised structure to test at depth.
Of the four exploration holes that have been drilled, CDX0006 intersected a 10m mineralised fault breccia on a carbonatite contact while CDX0007 intersected 77m of fault breccia that is interpreted to be part of the displacement fault intersected in hole CDX0004 along with 20m primary sulphide zone from 119.8m downhole.
The company noted that the width and extent of the fault breccia between CDX0004 and CDX0007 indicates a significant brittle breccia system with extensive alteration.
CDX0008 is now underway to test for depth extensions to the mineralised breccia.
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.