Peak gets more good drilling news from Ngualla

THE DRILL SERGEANT: Peak Resources has received results from drilling carried out at the company’s 100 per cent-owned Ngualla rare earth project in Tanzania.

The drilling encountered new high-grade mineralised intersections from surface, which Peak said has confirmed exceptional grades exist at the project it claims to be the fifth largest rare earth project in the world outside of China.

Highlights from the recent drilling at the Southern Rare Earth Zone include:

–    102 metres at 5.51 per cent rare earth oxide (REO) from surface to end of hole;

–    94m at 3.86 per cent REO from surface to end of hole;

–    120m at 4.08 per cent REO from surface to end of hole;

–    127m at 5.15 per cent REO from surface to end of hole;

–    87m at 5.08 per cent REO from surface to end of hole; and

–    103m at 5.25 per cent REO from surface to end of hole.

 

Plan of new rare earth intersection highlights (hole numbers labelled)
and drilling completed to date coloured by maximum down hole REO per
cent, holes drilled and awaiting results and Ngualla Mineral Resource
block model. Source: Company announcement

The company said the latest intersections define a 200 metre wide zone of deep weathering that is enriched in rare earth mineralisation from surface to vertical depths of over 90 metres.

“Drilling in the Southern Rare Earth Zone continues to intersect wide zones of deeply weathered carbonatite, containing long intersections of plus 5 per cent REO mineralisation,” Peak Resources said in its ASX announcement.

“The new results confirm the continuity of significant areas of high grade, weathered rare earth mineralisation from surface that may be amenable to sulphuric acid leach processing, a potentially lower cost method.

“These wide intersections confirm the continuity and consistency of the rare earth mineralisation in the heart of the deposit that is targeted for first development and production.

“Mineralisation still remains open at depth and to the south.”

Drilling operations are continuing within the Southern Rare Earth Zone while Peak waits on results from 35 of 86 holes it recently completed.

The company said the drilling program is expected to provide information and samples to support scoping and metallurgical studies it currently has in progress on the Southern Rare Earth Zone.

Peak anticipates being able to provide the next update for the metallurgical studies before the end of August.