Grades of up to 6% TREO1 in latest assays from pre-Christmas diamond drilling, Silver grades of 2 to 4.5 ounces/tonne encountered in two holes

RareX Limited (ASX: REE; RareX or the Company) is pleased to report significant new assay results from diamond drilling completed late last year targeting the primary zone at its 100%-owned Cummins Range Rare Earths Project in Western Australia.


Key Points:

  • Significant assays received from a further seven diamond drill holes targeting the primary zone at the Cummins Range Rare Earths Project in WA.
  • Multiple intercepts above the current resource grade, confirming the potential to upgrade and expand the current Mineral Resource of 18.8Mt at 1.15% TREO + 0.14% Nb2O52. Latest assays include:
    • 16.5m at 2% TREO with 0.4% NdPr and 0.1% Nb2O5 and 50 g/t Ag, including:
      • 3m at 6% TREO with 1% NdPr and 0.1% Nb2O5 and 25 g/t Ag (CDX0012)
    • 15m at 1.8% TREO with 0.4% NdPr and 0.1% Nb2O5 and 102 g/t Ag, including:
      • 11m at 2.3% TREO with 0.4% NdPr and 0.1% Nb2O5 and 138 g/t Ag (CDX0010)
    • 13m at 1.8% TREO with 0.3% NdPr and 0.1% Nb2O5, including:
      • 8.6m at 2.5% TREO with 0.4% NdPr and 0.1% Nb2O5 (CDX006)
    • 26m at 2.3% TREO with 0.5% NdPr and 0.3% Nb2O5, including:
      • 2.8m at 6.6% TREO with 1.2% NdPr and 0.8% Nb2O5 (CDX0013)
  • New results have extended the mineralisation in the primary zone beyond 200m down-dip.
  • Drill-hole CDX0013 (26m at 2.3% TREO) was drilled 50m to the west of CDX0012 and is the westernmost hole drilled at the best orientation to test the deposit. This suggests that the primary mineralisation remains open to the NW.
  • Two holes contain exceptional silver grades of up to 138g/t Ag.
  • Assays awaited for a further six diamond holes, including a number of visually strong intercepts down- dip of the recently reported results. These are expected to be received in the coming weeks.
  • Interpretation of results for Primary Exploration Target underway.

Further to the announcement of 22 November 2021, diamond drill core results have now been received for a further seven drill holes with multiple drill intercepts above the current resource grade, extending the mineralisation beyond 200m down-dip.

The results continue to highlight the outstanding potential of the primary zone at Cummins Range and reinforces the exciting opportunity to substantially increase the current Mineral Resource of 18.8Mt at 1.15% TREO + 0.14% Nb2O5 (Indicated Resource of 11.1Mt at 1.32% TREO + 0.17% Nb2O5; Inferred Resource of 7.7Mt at 0.88% TREO + 0.11% Nb2O5).

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This article includes content from RareX 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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