Long Shortz with Heavy Rare Earths: Holy cow at Cowalinya with five-fold resource upgrade
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Not one, not two, not three and not four – but a five-fold increase in the resource at Heavy Rare Earths’ Cowalinya project has the company bullish on developing the asset outside of Esperance.
Stockhead’s Sarah Hughan sits down with Heavy Rare Earths (ASX:HRE) executive chair Richard Brescianini to get the short end of the long story on the company’s latest announcement.
HRE announced the new 159mt @ 870ppm total rare earth oxide resource at Cowalinya to the market in early October. Not only was it a massive increase in tonnage, but the new resource earmarks a 39% increase in grade as well.
The improvement follows on from more than 14,000m of drilling across 509 holes. The kicker, however, is this resource is built off the back of just 19% of HRE’s total land position – meaning there’s plenty of potential upside still to come.
It’s a major milestone for HRE given the company only listed on the ASX in August last year. Now company management looks towards a new exploration target at Cowalinya to present the full potential of the project to its shareholders.
Tune in to hear HRE’s Richard Brescianini on the next drilling campaign at Cowalinya, what makes a good rare earths basket and what the company is also up to at its Duke project in the Northern Territory where assays are on their way back.