Reach Resources

Anomalous Rare Earth Elements (REE) Identified In Carbonatites

Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) is pleased to announce that it has identified several carbonatite dykes or sills and associated ironstone outcrops within its Skyline Rare Earths project (“Project”), that have returned further anomalous REE* results. In addition, the team has uncovered significant Manganese potential within the eastern portion of the Project identifying another battery metal target for the Company.

HIGHLIGHTS

CriticalElements Project

  • Significant REE recorded up to 0.68% REE* within pXRF results over an area of 200m x 500m at the Critical Elements Project (Wabli Creek), remaining open along strike to the north and south 1,*

Skyline Project

  • Carbonatites and associated Ironstone discovered within three target areas at the Skyline Project, returning anomalous results up to 0.11% REE* within pXRF results 1
  • Anomalous manganese up to 4.3% from the Skyline project identifying another battery metal target for the Company 1,*

Furthermore, the Company’s Critical Elements project (“Project”) has returned the highest REE result to date of 0.68% REE* from the same area where similarly anomalous results were recorded during the last site visit, highlighting the potential for significant REE at the Project.

Reach CEO, Jeremy Bower stated “What is most encouraging is that these highly anomalous results have been recorded from only 5 days in the field and from a very small subsection of the Company’s combined ~500 km2 tenure package, which indicates the potential for future significant REE discoveries on Reach ground. “

The Skyline Project is located ~20km to the east and the Wabli Creek and Yinnietharra Projects (Critical Elements), ~80km south of the Hastings Technology Metals Limited Yangibana REE development, which has a current Ore reserve of 16.7Mt at 0.95% TREO for 158Kt (Refer HAS ASX Announcement 27 July 2021).

This current program was commissioned after the identification of anomalous REE* pXRF results and geology at both Projects during a brief two-day reconnaissance field trip as announced on 18 October 2022. Anomalous results returned from pXRF readings taken during that initial reconnaissance include values up to 0.31% REE* and 0.31 % Cu 1.

Several new targets were initially selected for this trip which included areas of:

  • thorium anomalism
  • REE and/or pegmatite related mineral occurrences
  • previously mapped ironstones
  • potential ironstone or carbonatite dyke locations identified from aerial photography

In total, 86 rock chip samples and 70 pXRF readings were collected over the two Project areas.


Click here for the full ASX Release

This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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