Codrus Minerals Completes Initial Field Work at Karloning REE-Niobium Project

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) reported completion of multiple first-pass exploration workstreams at the company’s recently acquired Karloning REE-niobium project in the wheatbelt region of Western Australia.

Codrus Minerals announced a farm-in and Joint Venture agreement to earn up to a 90 per cent interest in the Karloning project with Talgomine Minerals in November 2022.

Recent activities have included soil sampling, drone magnetics and ground radiometric surveys while initial drilling to follow-up high-grade results from recently announced grab samples is now underway.

Datasets collected will be used by the company to assist with drill targeting to test for the high-grade, high-value permanent magnet rare earths dysprosium, neodymium, terbium and praseodymium.

“We are delighted to have completed these initial fieldwork programs, which will provide robust datasets to assist with drill targeting for our upcoming maiden drilling program at Karloning,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“Results from our grab sampling program in 2022 confirmed exceptional grades across a suite of key rare earth elements, with these latest surveys expected to provide a clearer insight into the local geology.

“Our intention is to complete permitting for drilling as quickly as possible to ensure we can get the drill rigs underway as soon as data integration and drill targeting is complete.”

Codrus believes the Karloning project provides an outstanding opportunity for the company to diversify into the critical minerals space and build on its current gold and copper assets.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE