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December 2022 Quarterly Activities Report And Appendix 5b
January 29, 2023
Heavy Rare Earths Limited (“HRE” or “the Company”) is pleased to announce its December 2022 quarterly activities report for the second quarter since listing on the Australian Securities Exchange (ASX).
- 438-hole rare earth exploration and resource expansion drilling program at Cowalinya complete with thick sequences of clay-rich saprolite intersected across the project area
- Assays from initial 53 holes deliver coherent zones of rare earth mineralisation
- Total rare earth assays of up to 2255 ppm TREO returned
- Particle size (metallurgical) analysis reveals up to 90% of rare earths hosted in -25 µm size fraction in as low as 21% of bulk saprolite feed
- Rare earth grade increase of up to 299% in -25 µm size fraction
- Re-assaying of samples from 2021 Cowalinya resource drilling delivers an average increase of 3.8% in total rare earths
- Acquisition of additional exploration tenements in the Cowalinya project
- Well-funded to progress with company objectives and exploration activities
HRE’s key exploration project is Cowalinya in the Norseman-Esperance region of Western Australia. This is a clay-hosted rare earth project with a JORC Inferred Resource of 28 Mt @ 625 ppm TREO1 and a desirable rare earth composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths.
Cowalinya Rare Earth Project, Western Australia
Analytical (Re-Assay) Program
During the quarter the Company announced results from 729 two-metre composites from 102 air core holes drilled at Cowalinya in 2021 which were re-assayed by Lithium Borate Fusion/ICP-MS (refer to ASX announcements 4 and 26 October 2022).
The program delivered a length-weighted average grade in total rare earth oxides (“TREO”) of 856 ppm for samples where the original analytical work by 4-Acid Digest/ICP-MS (on largely four-metre composites) returned assays above 300 ppm TREO-CeO2, the cut-off grade for the project’s Inferred Mineral Resources.
This represents a 3.8% increase in grade over the original assays which average 825 ppm in contrast to the more modest resource grade of 625 ppm that includes significant dilution in the grade estimate.
The results from the Analytical (Re-Assay) Program confirm routine two-metre sample compositing for assay by Lithium Borate Fusion/ICP-MS as the basis for future grade estimation of rare earth mineralisation from the Company’s ongoing resource exploration and expansion program at Cowalinya.
Resource Exploration and Expansion Drilling Program
During the quarter the Company completed its 438-hole resource exploration and expansion drilling program at Cowalinya, and announced assays from the first 53, or 12%, of the holes (refer to ASX announcement 1 December 2022).
These 53 vertical air core holes, drilled on 200 metre centres to depths of between 7 and 52 metres, were amongst the first 92 holes drilled in the current program along five north-south and east-west lines up to 4.2 kilometres long. These drill lines were designed to explore for thick developments of clay-rich mineralised saprolite on the Company’s E63/1972 tenement primarily to the south and south-east, but also immediately east and west, of the Cowalinya South rare earth deposit, and be used to guide subsequent grid-based resource expansion drilling. Their locations were determined using a combination of publicly available airborne electromagnetic and magnetic, and digital elevation model data.
Drilling by HRE successfully intersected saprolite along all five exploration drill traverses. Saprolite averages 17.1 metres thick along these traverses which compares with 17.7 metres for the Cowalinya resource. In the subsequent 207 air core holes which were drilled on 200 x 400 metre centres mainly to the west and south of the Cowalinya South resource, the average thickness of saprolite increases by 29.8% to 22.2 metres.
Subsequent to the end of the quarter, the Company announced assays from the remaining 39 air core holes along the five exploration traverses (refer to ASX announcement 3 January 2023). These assays, when combined with those from the first 53 holes, demonstrate that coherent zones of saprolite-hosted rare earth mineralisation are apparent up to 4.2 kilometres away from the Cowalinya South deposit. The widest of these mineralised zones, defined by 11 consecutive 200 metre-spaced holes located west of the deposit along drill section A-B on Figure 1, now exceeds 2 kilometres, with mineralisation open to the west of hole AC201. A second zone of mineralisation at least 600 metres wide is present on the same drill section and possibly represents part of an easterly/south-easterly extension to the Cowalinya South resource2. Confirmation of this extension awaits assays from a number of holes north and south of AC178-AC181 and east of AC110-AC112.
Table 1 lists rare earth assays for all mineralised intercepts in the 92 reported holes (AC110- 181, AC186-205) where their grade-thickness exceeds the average grade-thickness of the mineralised horizon in the Cowalinya deposit (~9 metres thick @ 624 ppm TREO3).
Click here for the full ASX Release
This article includes content from Heavy Rare Earths, 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.
HRE:AU
10h
Indicative, Conditional and Non-Binding Proposal Received by American Rare Earths
American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) (“ARR” or the “Company”) advises that it has received an indicative, conditional and non-binding proposal from a NASDAQ-listed Special Purpose Acquisition Company (“SPAC”) to acquire, by an issue of shares, the Company’s 100% owned subsidiary Wyoming Rare (USA) Inc, which holds the Company’s 2.34 billion tonne Halleck Creek Rare Earth Project (“Halleck Creek”). The proposal would have resulted in Wyoming Rare (USA) Inc. being listed (via a combination) with the SPAC as a separate entity on the NASDAQ Exchange in the USA.
Further information has been provided in respect to the Indicative, Conditional and Non-Binding Proposal:
- The SPAC is Papaya Growth Opportunity Corp.I a special purposes acquisition company incorporated in Delaware with offices at 2201 Broadway, Suite 750, Oakland CA 94612,
- Sponsor is Papaya Growth Opportunity I Sponsor LLC
- Share Consideration will be US$400 million
- The transaction is subject to Due Diligence
- Conditions precedent to closing (Refer Appendix A)
- Termination (Refer Appendix B)
The Board of ARR are aware of the potential benefits of this type of proposal as it follows a similar successful pathway of MP Materials, who also achieved listing of Mountain Pass utilising a combination with a SPAC. However, the board is mindful of the significant potential of Halleck Creek, and the need to maximise returns to shareholders, while minimising dilution and has declined to advance at this time. The Board will continue to evaluate all strategic alternatives to ensure optimal returns to its shareholders, particularly after reaching certain near-term operational milestones that will provide investors further confidence in the significant value the Company believes is presented by Halleck Creek.
ARR Chairman, Richard Hudson commented:
“The inbound interest received in American Rare Earths underscores the immense value and strategic significance of our Halleck Creek Rare Earth Project. As we navigate potential pathways for growth, including the recent proposal from a NASDAQ-listed SPAC, we remain committed to maximising returns for our shareholders while advancing our mission of sustainable resource development.”
This announcement has been authorised for release by the Chairman of American Rare Earths.
About American Rare Earths Limited:
American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) owns the Halleck Creek, WY and La Paz, AZ rare earth deposits which have the potential to become the largest and most sustainable rare earth projects in North America. American Rare Earths is developing environmentally friendly and cost-effective extraction and processing methods to meet the rapidly increasing demand for resources essential to the clean energy transition and US national security. The Company continues to evaluate other exploration opportunities and is collaborating with US Government-supported R&D to develop efficient processing and separation techniques of rare earth elements to help ensure a renewable future.
Click here for the full ASX Release
This article includes content from American Rare Earths, 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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24 April
Rare Earths Reserves: Top 8 Countries (Updated 2024)
The outlook for rare earths is supported by strong supply and demand fundamentals as the world heads into a new economic era with a focus on clean energy and technological advancements.
But with supply chain worries rising, it’s worth looking at which countries have the highest rare earths reserves. Many of the world’s major rare earths producers have large reserves, but some countries have low rare earths output and high reserves.
Case in point — mines in Brazil produced only 80 metric tons (MT) of rare earth elements in 2023, but the nation’s reserves are tied for third highest in the world. It’s possible that countries like this could become bigger players in the space in the future.
One caveat is that reserves information is unavailable for a few rare earths producers, including Myanmar which took the third spot for rare earths production last year.
Here’s an overview of rare earths reserves by country, with a focus on the eight countries whose reserves are over 1 million MT. Data is taken from the US Geological Survey’s latest report on rare earths.
1. China
Reserves: 44 million MT
Unsurprisingly, China has the highest reserves of rare earth minerals at 44 million MT. The country was also the world’s leading rare earths producer in 2023 by a long shot, putting out 240,000 MT.
Despite its top position, China remains focused on ensuring that its rare earths reserves remain elevated. Back in 2012, the Asian nation declared that its reserves of these materials were declining; it then announced in 2016 that it would raise domestic reserves by establishing both commercial and national stockpiles.
The country has also been reigning in illicit rare earths mining for a number of years now, taking steps such as shutting illegal or environmentally non-compliant rare earths mines and limiting production and exports. The production limits have been easing though, and last year the country raised mining quotas by more than 8 percent over 2022 in its sixth consecutive increase.
China’s dominance in both rare earth elements production and reserves has caused problems in the past. Rare earths prices surged when the country cut exports in 2010, resulting in an ongoing rush to secure supply of the minerals elsewhere.
In recent years, China has begun importing more heavy rare earths from Myanmar, for which the US Geological Survey does not have rare earths reserves data. While China has stricter environmental regulations, the same cannot be said for Myanmar, and the mountains along its border with China have been heavily damaged by rare earths mining.
Rare earths prices soared to their highest level in 20 months, according to OilPrice.com, in early Q3 2023 coinciding with a temporary production halt in Myanmar, which accounted for 38 percent of China's rare earth materials imports in the first seven months of 2023.
2. Vietnam
Reserves: 22 million MT
Vietnam’s rare earths reserves stand at 22 million MT. It reportedly hosts several deposits with concentrations against its northwestern border with China and along its eastern coastline. The majority of rare earths in the country can be found in primary ore deposits, with a smaller amount located in coastal placer deposits. While this potential was previously untapped, that has now changed as the country looks to become an alternative to China.
Vietnam’s rare earths production was minuscule in 2022 at 1,200 MT, but it was even less in 2023 at 600 MT. Vietnam is the only country outside of China to have a vertically integrated rare earths magnet supply chain, according to Reuters, and it has attracted interest from companies in a variety of sectors. The country's goal is to produce 2.02 million MT of rare earths by 2030.
However, the arrests of six rare earths executives, including the chairman of Vietnam Rare Earth JSC (VTRE), in October 2023 may put a kink in those plans. "VTRE’s chairman, Luu Anh Tuan, was accused of forging value-added-tax receipts in trading rare earths," reported Asia Financial.
3. Brazil
Reserves: 21 million MT
Although Brazil has the third largest rare earths reserves globally, the latin nation was not a major producer of rare earths in 2023, with production flat at a tiny 80 MT on par with the previous year and even lower than its 2021 total of 500 MT.
However, that will soon be changing as rare earths company Serra Verde began commercial production from its Pela Ema rare earths deposit at the top of 2024. Pela Ema is an ionic clay deposit that will produce the four critical magnet rare earth elements: neodymium, praseodymium, terbium and dysprosium. According to the company, it is the only rare earths operation outside of China to produce all four of those magnet rare earths.
4. Russia
Reserves: 10 million MT
Russia produced 2,600 MT of rare earths in 2023, more than Brazil and Vietnam. The Russian government shared plans in 2020 to invest US$1.5 billion in order to compete with China in the rare earths market.
Russia’s invasion of Ukraine caused some concern over possible disruptions to the rare earths supply chain in the US and Europe, and there are signs the government has had to put its domestic rare earths sector development plans on ice while it's mired in war.
5. India
Reserves: 6.9 million MT
India’s rare earths reserves sit at 6.9 million MT, and it produced 2,900 MT of rare earths in 2023 on par with the previous year. India has nearly 35 percent of the world’s beach and sand mineral deposits, which are significant sources of rare earths. The country's Department of Atomic Energy released a statement in December 2022 breaking down the country's production and refining.
More recently, the Government of India is reportedly putting policies and legislation in place to establish and support rare earths research and development projects to take advantage of its reserve base.
6. Australia
Reserves: 5.7 million MT
While Australia was the fourth largest rare earths-mining country in 2023 at 18,000 MT of production, it has the sixth largest reserves in the world. Currently, its reserves stand at 5.7 million MT.
Rare earths have only been mined in Australia since 2007, but extraction is expected to increase moving forward. Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF) operates the Mount Weld mine and concentration plant in the country; it also runs a rare earths refining and processing facility in Malaysia. The company is considered the world’s largest non-Chinese rare earths supplier.
Hastings Technology Metals' (ASX:HAS,OTC Pink:HSRMF) Yangibana rare earths mine is shovel ready and the company recently signed an off-take agreement with Baotou Sky Rock for concentrates produced at the mine. Hastings expects the operations to produce up to 37,000 MT of rare earths concentrate annually and deliver first concentrate in Q2 2025.
7. United States
Reserves: 1.8 million MT
While the US reported the second highest output of rare earths in 2023 at 43,000 MT, the country takes the seventh top spot in terms of global rare earths reserves.
Rare earths mining in the US now happens only at California’s Mountain Pass mine. Over the past few years, the Biden Administration has made several moves toward strengthening the nation's rare earths industry.
In February 2021, President Joe Biden signed an executive order aimed at reviewing shortcomings in America’s domestic supply chains for rare earths, medical devices, computer chips and other critical resources. The next month, the US Department of Energy announced a US$30 million initiative to research and secure domestic supply chains for rare earths and battery metals such as cobalt and lithium. The government released a follow-up fact sheet about the progress made in these initiatives in February 2022. The US Department of Energy announced a US$32 million investment in new rare earths production facilities in July 2023.
8. Greenland
Reserves: 1.5 million MT
Although Greenland’s rare earths reserves number is close to that of the US, the island nation currently doesn't produce the metals. However, it does have two significant rare earths projects with large reserves, private company Tanbreez Mining's Tanbreez project and Energy Transition Minerals' (ASX:ETM,OTC Pink:GDLNF) Kvanefjeld project. The USGS only measures proven economic reserves, but in terms of total reserves for rare earths projects globally, they placed first and third respectively with 28.2 and 10.2 million metric tons of total rare earth oxides.
After signing an exploitation license with the government in 2020, Tanbreez is currently working on securing financing for its project's development; avenues being explored include discussions with independent oil and gas executives and the creation of critical metals NFTs backed by the project. The company has its sights set on 2024 for production.
While Energy Transition Minerals had previously signed a license for Kvanefjeld, it was revoked by Greenland's current government due to the company's plans to exploit uranium. The company submitted an amended plan that did not include uranium, but the updated version was rejected as well in September 2023.
FAQs for rare earths reserves
What are rare earth metals?
Rare earths are a basket of 17 naturally occurring elements comprised of 15 elements in the lanthanide series, plus yttrium and scandium. Other than scandium, all rare earths can be divided into “heavy” and “light” categories based on their atomic weight. Heavy rare earths are generally more sought after, but light rare earth elements can of course be important too.
Is lithium a rare earth metal?
Lithium is not a rare earth metal. It is an alkali metal in the same group as sodium, potassium, rubidium and cesium.
What is the global total for rare earths reserves?
Global rare earths reserves amount to 130 million MT. With demand for rare earth minerals ramping up as hype about electric vehicles and other high-tech products continues, it will be interesting to see how the top producers contribute to future supply.
What is the annual production of rare earths?
According to the US Geological Survey, global rare earths production in 2023 came in at 350,000 MT, up from 300,000 MT the previous year. The production of rare earths has ramped up aggressively in recent years — only a decade ago, global production was just above 100,000 MT, and it first broke 200,000 MT in 2019.
Who is the largest producer of rare earth metals in the world?
China has consistently been the largest producer of rare earths, and its 2023 production made up 240,000 MT of the world's 350,000 MT. In terms of specific rare earths mines, the top producer is the Bayan Obo mine in Inner Mongolia, an autonomous region in Northern China. The mine is owned by the state-owned Baotou Iron and Steel Group.
Are there rare earth minerals in Europe?
There are currently no rare earths mines in Europe, but there are multiple countries with reserves, including one with a significant new discovery. In early 2023, Swedish state-owned company LKAB announced it had identified the continent's largest rare earths deposit, the Per Geijer deposit, with rare earths resources of over 1 million MT of oxides.
With the European Union focusing heavily on building its own supply chain with the European Critical Raw Materials Act, the Per Geijer deposit could develop into an important source of rare earths for the region.
Several other countries in Europe hold significant rare earths reserves as well. Greenland hosts many deposits totaling 1.5 million MT of rare earths reserves along its coastline, with the majority located in the southwest of the country. The Gardar igneous province in the south hosts the largest ones.
Countries in the Fennoscandian Shield — such as Norway, Finland and, of course, Sweden — also host rare earth deposits, as the region has similar mineralization to Greenland.
What are the most technologically useful rare earth metals?
Rare earth metals play a significant role in various technologies. They are often used in electronics such as laptops and smartphones. Rare earth oxides such as neodymium and praseodymium are used in magnets, aircraft engines and green technologies, including wind turbines and electric vehicles. Samarium and dysprosium are also used in rare earth magnets. Phosphor rare earths such as europium, terbium and yttrium are used in lighting, as are cerium, lanthanum and gadolinium.
How are rare earths mined?
Rare earth elements are either mined from open pits, like many other metals and minerals, or they are mined through in-situ leaching. The metals are found in hard-rock deposits, ionic clay deposits and mineral sands. Some minerals that are mined for rare earths are bastnäsite, monazite, loparite and xenotime.
The open-pit mining process for rare earths is similar to that of other minerals: hard rock is mined, ore is separated from tailings and then it is refined. In in-situ leaching, which is also a common method of mining uranium, miners pump a chemical solution into an orebody. The solution dissolves the targeted materials into a brine that is then pumped back out of the ore and into collection pools. Rare earths mining also has a final step, which is the separation of the different rare earths from each other.
Why is it difficult to mine rare earth metals?
Although rare earths aren't as rare as you might assume from the name, finding economic deposits is very difficult. This is even more so the case for the heavy rare earths, as orebodies containing them are less abundant versus light rare earths.
Another road bump for rare earths is the separation process. Because the rare earth elements all have similar chemical behavior to each other, they are very tough to separate, making the process difficult and expensive. The most common separation method is solvent extraction, but it is lengthy and can take hundreds to thousands of cycles to achieve high purity levels, according to the Science History Institute.
Lastly, the environmental risks associated with rare earths mining mean even more care needs to be taken to minimize damage to the environment and to the people near the mine.
Is rare earths mining bad for the environment?
Rare earths mining can be very damaging to local environments, especially when it comes to illegal and unregulated mines. A major issue with mining rare earths is that the ore they are extracted from also often contains thorium and uranium, which are both radioactive. This means the separation of rare earths from this ore must be handled carefully, as the waste produced will be radioactive as well.
Unfortunately, it is common for this radioactive waste to make its way into groundwater and streams, which is incredibly damaging to the environment and to nearby communities that rely on this water. This can be seen in the mountains of Southern China and Northern Myanmar, both of which have been heavily exploited for their rare earths.
A report from Global Witness that investigates the effects of rare earths mining in these regions shows that mining in Myanmar has escalated in recent years after China began closing its own mines and outsourcing to the neighboring country. As of mid-2022, 2,700 illegal collection pools from in-situ leaching in the mountains had been identified, and they covered an area the size of Singapore. Those who lived in the region reported difficulty accessing safe drinking water and said local wildlife and fish were dying out.
Additionally, the in-situ leaching process can damage the rocks that are being extracted. Global Witness found that over 100 landslides have already taken place in China's Ganzhou region as a result of this extraction, and the damage to Myanmar's mountains is substantial as well.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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24 April
Ionicre Raises $5.5 Million in a Placement
The Board of Ionic Rare Earths Limited (ASX: IXR) (“IonicRE” or “the Company”) announces it has received firm commitments to raise $5.5 million (before costs) by way of a share placement of approximately 423 million shares at $0.013 per share (“Placement”). The Placement was strongly supported by both key existing shareholders.
- IonicRE has received firm commitments to raise $5.5 million (before costs) in a Placement;
- Placement includes participation of $0.5 million from IonicRE Executive Chairman Mr Brett Lynch, further to his recent $1.5 million investment on joining the Company in January 2024;
- Funds raised will support:
- Advancing Ionic Technologies’ magnet recycling technology and enhancements to its Magnet Recycling Demonstration Plant, currently producing separated magnet rare earth oxides (REOs) in Belfast, UK, along with the completion of a Feasibility Study for a full-scale plant, expected mid 2024; and
- Advancing offtake and financing discussions presently underway at the Makuutu Ionic Adsorption Rare Earths Project, where the demonstration plant at site is producing mixed rare earth carbonate (MREC) which will be evaluated by several parties to advance offtake negotiations.
Managing Director Tim Harrison commented,“We have received such a significant amount of interest from various magnet manufacturers, alloy makers and OEM’s who are interested in utilising our world-class magnet rare-earth recycling technology for access to secure, sustainable, and traceable rare earth supply. Demand at our operational demonstration plant in Belfast is now full for the next 18 months with potential partner trials advancing to plan.”
“Further, our upstream project, the Makuutu Rare Earth Project, is also advancing well with several offtake negotiations with partners who will be evaluating our MREC being produced at the Makuutu demonstration plant. We are on the verge of a tangible increase in shareholder value. We greatly appreciate the support of existing shareholders with funding this placement.”
Placement Details
The Company has received binding commitments from existing sophisticated investors to raise $5.5 million (before costs) through the issue of 423,076,923 fully paid ordinary shares (“Shares”) at an issue price of $0.013 per Share (“Placement”). Participants will receive 3 free attaching unlisted options for every 4 shares issued with an exercise price of $0.02 (being a 54% premium to the issue price of Shares under the Placement) and a 4-year term which will see 317,307,690 unlisted options (“Options”). 216,967,454 free attaching unlisted Options will be issued utilising the Company’s existing placement capacity pursuant to Listing Rule 7.1, with the balance to be issued subject to shareholder approval.
The issue price under the Placement represents a 25.3% discount to the volume weighted average price ("VWAP") of IonicRE shares over the past 10 trading days. Shares issued under the Placement will be issued utilising the Company’s existing placement capacity pursuant to Listing Rule 7.1 and are expected to be issued on or about Wednesday, 1 May 2024. The Shares issued under the Placement will rank equally with IonicRE’s existing Shares quoted on the ASX.
Mr. Brett Lynch, IonicRE’s Executive Chairman, will subscribe for 38,461,539 Shares ($500,000) under the Placement plus 28,846,154 free attaching Options with an exercise price of $0.02 and a 4-year term, subject to receiving approval at a general meeting of shareholders to be held this quarter. This is in addition to Mr Lynch’s $1.5 million equity investment in January 2024 when he joined the Board of the Company.
Canaccord Genuity (Australia) Limited and MST Financial Services Pty Limited acted as Joint Lead Managers to the Placement, with Canaccord acting exclusively as Global Coordinator and Sole Bookrunner (Global Coordinator) to the offer.
Use of Funds
It is the intention of the Company to use the funds raised under the Placement to advance the commercial partnership negotiations, magnet recycling demonstration plant enhancements and the completion of the feasibility study at Ionic Technologies, plus activity at the Makuutu demonstration plant tied to offtake negotiations and working capital.
The Joint Lead Managers will be entitled to receive a fee equal to 6% of the Placement proceeds, excluding the amount subscribed by Mr. Brett Lynch. Subject to shareholder approval, the Company proposes to issue 20 million unlisted options to the Joint Lead Managers with an exercise price of $0.02 and expiring 4 years after the date the options are issued.
All amounts are in Australian dollars unless otherwise specified.
Nothing contained in this announcement constitutes investment, legal, tax or other advice. Investors should seek appropriate professional advice before making any investment decision.
Click here for the full ASX Release
This article includes content from Ionic Rare Earths, 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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22 April
ChemX Materials: Developing Innovative Processing Technology to Produce High Purity Alumina
ChemX Materials (ASX:CMX) develops innovative processing technology to produce high purity alumina for advanced technology and clean energy applications. The company's 100 percent owned, Australian patented HiPurA® process technology offers a low cost and energy intensity production method to produce high purity alumina (HPA).
HPA is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors and synthetic sapphires. Synthetic sapphires are critical in the production of applications such as smart watches, iPhones and laptop screens.
ChemX Materials is also developing a high purity manganese project. The Jamieson Tank project is located on two exploration tenements, EL 5920 and EL 6634 in the Eyre Peninsula in South Australia. These tenements collectively cover an area of 718 km2.
ChemX Materials completed a 94-hole drill program at the Jamieson Tank project, totaling 6,164 metres and released its maiden Mineral Resource Estimate in September 2023. The Mineral Resource Estimate reported 13.1 Mt at 5.7 percent manganese, with 21 percent classified as Indicated and 79 percent classified as Inferred.
Company Highlights
- ChemX Materials Limited (ChemX Materials) is an Australian company developing an innovative, processing technology to produce high-purity alumina (HPA), this process is called HiPurA®.
- ChemX Materials owns 100 percent of HiPurA® and was granted an Australian patent for this technology in January 2024.
- High purity alumina is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors, smart watches and iPhones.
- The HiPurA® process is modular, scalable and uses a readily available aluminous chemical as its feedstock, therefore is not reliant on mine production offtake, all of which enable the technology to be deployed close to end users' manufacturing operations.
- ChemX Materials has proven HiPurA® can produce above 4N (99.99 percent) high purity alumina at micro plant scale. This testwork indicates HiPurA® is low in cost and energy intensity.
- ChemX Materials is constructing a pilot plant to demonstrate HiPurA® can work at scale, which is the next step towards commercialisation. The pilot plant construction is underway and on track for commissioning in June 2024.
This ChemX Materials profile is part of a paid investor education campaign.*
Click here to connect with ChemX Materials (ASX:CMX) to receive an Investor Presentation
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22 April
Massive Maiden Mineral Resource Estimate >1B Tonnes for EMA Rare Earth Project
Brazilian Critical Minerals Limited (ASX: BCM) (“BCM” or the “Company”) is pleased to announce a maiden Mineral Resource Estimate (MRE) for the Ema and Ema East projects (collectively Ema), forming part of the Company´s wholly owned REE projects, Apuí, Amazon, Brazil (Table 2) at a cut-off of 500ppm the Inferred Mineral Resource Estimate contains 1,017Mt @ 793 ppm TREO.
Highlights
- JORC 2012 compliant Inferred Mineral Resource Estimate (MRE) of 1.02Bt @ 793ppm TREO, including a higher-grade portion of 331Mt @ 977ppm TREO
- Places Ema as one of the largest1 tonnage fully ionic clay, rare earth deposits in the world
- High magnetic REO (Nd, Pr, Dy, Tb) element proportion of 27 – 31% of basket positioning it as one of Brazil’s most enriched MREO deposits
- MRE developed from only 46% of the available area at Ema, with 107km2 available for further exploration
- The mineralisation is close to surface, amenable to low-cost open pit mining methods and remains open at depth and to the east and west
- Drilling program is now being designed to convert MRE from Inferred to Indicated and Measured categories
MRE when coupled with previously announced1 world class metallurgical testwork recovery results of the magnetic rare earth oxides (MREO), as listed below, confirm the following:
- 10 metres @ 76% Nd, 74% Pr, 47% Dy and 54% Tb from 10m (EMA-TR-101)
- 6 metres @ 66% Nd, 61% Pr, 56% Dy and 83% Tb from 10m (EML-TR-059)
- 13 metres @ 71% Nd, 62% Pr, 45% Dy and 52% Tb from 5m (TR-071)
- 5 metres @ 66% Nd, 66% Pr, 52% Dy and 55% Tb from 12m (TR-059)
- 10 metres @ 65% Nd, 61% Pr, 43% Dy and 50% Tb from 10m (TR-110)
- Ema is a fully ionic clay rare earth deposit – there is currently zero drilling into fresh rock
- Is amenable to a low cost REE metal recovery process – low reagent usage, high impurity removal in final product
- Recoveries achieved using standard weak ammonium sulphate leaching solution, pH 4, at ambient temperatures over low leach times of only 30 minutes duration
- Results demonstrate mineralisation is suited to low-cost processing through conventional processing facilities commonly used in China
Andrew Reid, Managing Director, commented:
“Today’s announcement is very important for the Company and our shareholders as it now sets us on a path towards development. This result places Ema as one of the largest ionic rare earths deposits in the world. The team has done a tremendous job in getting such a large MRE defined in less than 1 year, which now confirms the immense potential of the Ema project in Brazil.
Not only do we have a massive mineral resource of >1 billion tonnes but also significantly we have >300 million tonnes at grades close to 1,000ppm which will assist in generating positive financial cash flow models.
Opportunities to increase both grade and tonnage remain high due to the extremely conservative global specific gravity (SG) of 1.34 which was applied to the estimated volumes. Additional deeper, less weathered samples from the higher-grade horizon is expected to result in significantly higher sg’s.
With only 46% of the total area drilled, the team is confident of increasing not only tonnages but believes the opportunities to also increase the grade are well founded and will be tested through the next round of drilling commencing over the coming months. BCM is now well on its way to establishing the Company as a global rare earths leader.”
Click here for the full ASX Release
This article includes content from Brazilian Critical Minerals Limited, 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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18 April
Rock Chips of up to 3.22% TREO Identified in Newly Granted Machinga Licence
Heavy rare earths (HREE) and Niobium (Nb) explorer DY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to announce the receipt of the assay results for the second comprehensive reconnaissance rock chip and soil sampling program completed at Machinga Main Licence Area Anomaly (Figure 1).
HIGHLIGHTS
- Sampling program consisting of a total of 727 rock chips and soil samples recently completed into recently granted licence area at Machinga
- Full assay results received from soil and rock chip sampling program at Machinga:
- 305 soil samples were taken on a 200m x 100m grid
- Assays returned up to 0.49%TREO
- 21% of all soil samples returned >1000ppm (>0.1%) TREO
- 422 rock chip samples were taken on a nominal 50 x 50m grid
- Assays returned up to 3.22% TREO, with 5 samples returning 1%+ TREO
- Rock chips also returned up to 0.75% Nb2O5
- 305 soil samples were taken on a 200m x 100m grid
- Two anomalies west of the main road of the newly granted licence show a much more continuous character of higher TREO results - highlighting the scale potential of REE mineralisation in this new area of the licence
- Assays will assist in refining targets ahead of next phase of drilling at Machinga
Machinga Soil and Rock Chip Sampling Program
Following on from the DDH assays reported in December 2023, DY6 conducted a comprehensive geochemical sampling over the Machinga exploration licences (EL0705/EL0529) initially, targeting the western side of the maiden drilling in Area 1 and 2 in licence EL0529 before moving to the anomalous soil responses in the southern region of Machinga main (EL0705) (Figure 1). The program consisted of a total of 727 samples which included 422 rock chips and 305 soils. The full list of assay results is included in Table 1.
Geochemical sampling was extended into the new licence and over the anomalous southern region covering and area of approximately 3000m x 2000m along a NW-SE strike direction. A previously reported extensive uranium radiometric anomaly, which spans over 7km along the same geological unit (refer ASX release dated 6 July 2023) is being targeted by the Company.
Click here for the full ASX Release
This article includes content from DY6 Metals, 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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