RareX’s expectation of a substantial resource upgrade at its Cummins Range project in WA’s Kimberley region has been boosted by further thick rare earths and phosphate intercepts.

Assays received for a further 22 drill holes returned extremely positive results with 90% reporting significant REE and phosphate mineralisation.

Of these, 10 holes returned mineralised intercepts over 200m wide with two of these returning intercepts of 426.9m grading 0.4% total rare earth oxides (TREO) and 4% phosphate (CDX0038) and 406m at 0.3% TREO and 4% phosphate (CDX0024).

RareX (ASX:REE) was also the beneficiary of numerous high-grade REE intercepts including a whopping 11.5% TREO over 2.2m within a broader intercept of 9.8m at 3.3% TREO and 5% phosphate (CDX0043), 35m at 1.6% TREO (CDX0037) and 11m at 2.2% TREO and 18% phosphate (CDX0034).

No apatite for destruction

And if all that wasn’t enough to put a smile on faces, the drilling has also confirmed that monazite (rather than apatite) is the host of REE mineralisation at the Phos Dyke deposit with valuable magnet rare earths neodymium and praseodymium (NdPr) making up 26% of the REE content while heavy REEs make up a further 19%.

However, delays in the turnaround time for assay results, which have more than doubled in recent months, has led the company to split its resource update into two parts with the Rare Dyke resource scheduled to be announced in late March while the Phos Dyke resource will be announced with a global resource update in the second half of April.

“The impending resource upgrade at Cummins Range is shaping up as a pivotal development in the company’s strategy to develop a long-life mining and processing operation at Cummins Range,” managing director Jeremy Robinson said.

“While the delays in receiving assays have been incredibly frustrating, we believe we are now on the cusp of a major resource upgrade to be delivered in the coming weeks that will provide investors with a much clearer picture of the true scale and significance of the Cummins Range Project.

“The significance of the rare earths mineralisation in monazite in the Phos Dyke with high concentrations of highly valuable NdPr and HREO is also an exciting economic proposition.”

Cummins Range currently has a resource of 18.8Mt grading 1.15% TREO and 10% phosphate with higher confidence Indicated Resources making up the bulk of this at 11.1Mt at 1.35% TREO and 10.9% phosphate.

Northern drilling

RareX also noted that the four northernmost holes – CDX0076 to CDX0079 – were drilled as a fence line to test for extensions to the Phos Dyke, returned consistent mineralisation to the end of the hole.

CDX0076 was top of these holes with a 111m intersection at 0.2% TREO and 5% phosphate.

The company noted that the consistently disseminated apatite occurs in unaltered pyroxenite and microXRF results have shown that the rare earths around the Phos Dyke are deporting to monazite within the igneous protolith.

This igneous REE mineralisation has significantly higher proportions of NdPr and HREO in comparison to the later high-grade rare earth mineralising event on the Rare Dyke.

Importantly for RareX, this style of mineralisation remains open in all directions and likely stretches across the entire 3km by 3km intrusive complex that makes up the Cummins Range deposit.

 

 

 

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.

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