Resource Base’s hypothesis that shallow, broad-scale rare earths elements are present across the Murray Basin has been backed by drilling at EL007647 in Victoria.

Shallow, clay-hosted REE mineralisation topping out at 2,502 parts per million total rare earth oxides (TREO) was intersected in 88% of the 86 holes drilled in the tenement.

Resource Base (ASX:RBX) noted that mineralisation widths of up to 7m were intersected from just 7m from surface on average and from surface in one location.

It also indicates that mineralisation at Australian Rare Earths’ Red Tail and Yellow Tail deposits likely extends southeast into EL007647.

“Drilling on our high priority tenement EL007647 has yielded highly encouraging results from the first 16 holes sampled, consistent with the company’s geological hypothesis of shallow, broad scale REE mineralisation across the Murray Basin,” non-executive chairman Maurice Feilich said.

“This is a great start to exploration on this tenement and we eagerly await similar results as drilling continues across EL007647.”

Assay results

Assays have been received for 16 holes to date with mineralisation intersected in 14 holes.

Notable intersections include 5m grading 1,106ppm TREO, 6m at 619ppm TREO and 7m at 640ppm TREO.

Mineralisation at EL007647 appears very similar to other Murray Basin clay hosted REE mineralisation reported in the region.

Drilling is ongoing and should continue throughout this unusually wet Spring season as the tenement is a well-drained sandy rise.




This article was developed in collaboration with Resource Base, 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.