Voltaic spins the drillbit for tasty REEs at Paddys Well
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Voltaic has started exploration drilling for rare earths at the Neo target area within its Paddys Well project in Western Australia’s Gascoyne region.
The two-phase drill program totalling 2,500m will target shallow mineralisation at Neo by ‘twinning’ historical drillholes, which had intersected oxide/clay horizons with anomalous REE, delineate the extent of the clay-hosted REE area and screen other key priority target areas of interest.
The company is also undertaking the next round of field reconnaissance target generation.
It comes as results from Voltaic Strategic Resources’ (ASX:VSR) Phase 1 rock chip sampling program expanded the Neo target area to 2.4km by 1.5km and identified three new prospects – Cypher, Link and Switch.
This rock chip program returned multiple +1,000 parts per million (ppm) total rare earth oxide (TREO) results with a top hit of 3,786ppm TREO from within granitic (felsic) domains, schists and subcrop.
Excitingly, the rare earths content includes a high ratio (>20%) of in-demand magnet REEs.
Should the first phase of drilling be successful, the company will extend the campaign into February though it will replace the current auger vacuum rig, which has depth limitations, with an aircore or reverse circulation drill rig.
Voltaic noted that the primary target of the drill campaign is the upper shallow oxide (clay) horizon which enables low cost, expeditious vectoring towards potential deeper primary basement mineralisation.
It noted that 16 historical holes in the Neo target area had identified anomalous near-surface REE mineralisation with widths of up to 82m.
The company’s rock chip sampling has also identified several oxide (clay) target areas for reconnaissance follow-up drilling.
Paddys Well is located just west of Kingfisher Mining’s Micks Well REE discovery between Carnarvon and Meekatharra.
This article was developed in collaboration with Voltaic Strategic Resources, 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.