During the Quarter, RareX Limited (ASX: REE; RareX or the Company) was pleased to report significant intercepts of primary mineralisation at its 100%-owned Cummins Range Rare Earths Project in the Kimberley Region of Western Australia, significantly expanding the potential scope and scale of the Project. The Project is currently host to a Mineral Resource of 18.8Mt at 1.15% TREO + 0.14% Nb2O5 (Indicated Resource of 11.1Mt at 1.34% TREO + 0.17% Nb2O5; Inferred Resource of 7.7Mt at 0.88% TREO+ 0.11% Nb2O5 (0.5% TREO cut-off)) including high-grade tonnes to 6.5Mt at 1.98% TREO (inc. 0.38% NdPr) + 0.21%Nb2O5.

HIGHLIGHTS

Outstanding new results received from recent diamond drilling targeting the primary zone at the Cummins Range Rare Earths Project including,

    • CDX0002 – 11.3m at 2.4% TREO with 0.4% NdPr and 0.2% Nb2O5including 3.1m at 7% TREO with 1.1% NdPr
    • CDX0003 – 23.9m at 2.5% TREO with 0.5% NdPr and 0.3% Nb2O5including 2.3m at 7.3% TREO with 1.7% NdPr and 0.6% Nb2O5
    • CDX0004 - 102.97m at 1.6% TREO with 0.3% NdPr and 0.4% Nb2O5including 46.97m at 2% TREO with 0.4% NdPr and 0.5% Nb2O5 and including 9m at 2.3% TREO with 0.5% NdPr and 1% Nb2O5
    • CDX007 - 34.6m at 1.3% TREO and 0.4% Nb2O5, including 3.6m at 2.5% TREO and 0.7% Nb2O5 within an overall zone of 61.4m at 1% TREO and 0.3% Nb2O5
    • CDX0011 - 21.9m at 3.1% TREO with 0.6% NdPr and 0.2% Nb2O5including 3m at 10.6% TREO with 1.8% NdPr
  • Deeper hole, CDX0016, has intersected multiple stacked lenses, all with massive to disseminated rare earths as monazite
  • Results validate the huge potential of the primary zone at Cummins Range and the opportunity for significant resource growth
  • Further evidence of large, mineralised porphyry system at Trundle Project NSW being drillied by Kincora Copper Limited (REE - 35% Free Carried)
  • Cash and Investments of $5m.
  • Successful spin-out of non-core assets to Cosmos Exploration Limited (ASX: C1X)

Hole CDX0007, shown in Figure 1, is the first assayed diamond drill-hole at Cummins Range in 40 years and was drilled into an area where a displacement fault had been interpreted.

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This article includes content from RareX, 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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