Well, well, well: Anson unearths two big rare earths targets at Hooley Well

ASN has defined two large REE targets at the Hooley Well project in WA’s Yilgarn Craton
The project is close to several juniors in the emerging clay-hosted REE district
ASN recently flagged nickel-copper-PGE targets at the project, dishing up consistently good news
Further exploration planned this quarter in conjunction with drilling at the company’s Green River lithium project across the pond in Utah

Advanced lithium project developer Anson Resources is adding another string to its bow after defining two large rare earth element (REE) targets at its Hooley Well project in WA.

The project is in the north-western area of the highly prospective Yilgarn Craton, a region that’s emerging as a potentially important source of clay-hosted REEs.

The company recently defined 13 new nickel–copper-PGE exploration targets at the project. Now, the reprocessing of historical radiometric surveys has resulted in the definition of two large REE targets, with target 1 sizing up at around 5km x 4km and target 2 for 3.5km x 1.5km.

Anson Resources (ASX:ASN) says the new targets exhibit a similar radiometric signature to Krakatoa Resources’ (ASX:KTA) 101Mt at 840ppm TREO Tower project and Desert Metals’ (ASX:DM1) high-grade REE prospect at its Innouendy Project, both in close proximity to Hooley Well.

The company says the interpreted continuous REE mineralisation from DM1’s Innouendy project, to KTA’s REE resource, highlights the scale potential of REE mineralisation in the area.

More than just REE potential

Hooley Well has more than just rare earths potential, consisting of three tenements, with historical shallow drilling intersecting nickel and cobalt laterites.

The geology across these tenements is comparable to Chalice’s (ASX:CHN) Julimar nickel-copper-PGE discovery and the Nova Bollinger nickel-copper project in WA’s Fraser Range – both of which are on the margins of the Yilgarn Craton.

The region has attracted a pegging rush from explorers looking for the next ‘Julimar’, including NickelX (ASX:NKL), Western Yilgarn (ASX:WYX), and Sultan Resources (ASX:SLZ).

The company plans to investigate four out of the 13 recently flagged nickel-copper-PGE targets which it has determined as ‘priority-1’ exploration targets.

Exploration planned this quarter

Exploration is planned to begin at Hooley Well this quarter with drilling to commence upon the completion of requisite approvals.

This work will be undertaken in parallel with Anson’s core focus – the ongoing exploration and development of its lithium assets in Utah, USA where resource drilling is planned at the Green River project.

In Utah, the ultimate plan is to develop the Green River project in parallel with the nearby 1.038Mt LCE Paradox lithium project.

This article was developed in collaboration with Anson 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.