Investing News NetworkAUSTRALIA
RareX Limited (ASX: REE; “RareX” or “the Company”) is pleased to announce its maiden Exploration Target for the primary zone within its flagship 100%-owned Cummins Range Rare Earths Project, located in the Kimberley Region of Western Australia.
HIGHLIGHTS
- Follows highly successful recent diamond drilling program targeting the primary zone
- Exploration Target is in addition to the current Indicated and Inferred Mineral Resource1 of 18.8Mt at 1.15% TREO2 + 0.14% Nb2O5
- This zone will be targeted by a major new drilling program commencing early April
The Exploration Target, which is in addition to and located below the current Indicated and Inferred Mineral Resource within the Main Rare Earths Zone, comprises 23Mt at 1.6% TREO to 41Mt at 2.4% TREO, as set out below:
Additional to Current Indicated and Inferred Resource
The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The Exploration Target has been developed following the extensive diamond drilling program completed in 2021 which has successfully proven that high-grade rare earths mineralisation extends into the primary, below the weathered zone.
Click here for the full ASX Release
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REE:AU