ABx Group Increases Tasmanian Rare Earth Resources to 89Mt

THE DRILL SERGEANT: ABx Group (ASX: ABX) released an updated Mineral Resources Estimate (MRE) for the company’s projects in northern Tasmania.

Abx Group, with assistance from consultants, completed an updated resource estimation of the Deep Leads – Rubble Mound and Wind Break rare earth resources located on the outskirts of Launceston.

The estimate is 89 million tonnes averaging 844ppm total rare earth oxides (TREO), from 29 per cent of the mineralised outline being a 70 per cent increase in tonnes and three per cent higher grade than the company’s previous estimate.

“This 70 per cent expansion of our rare earths resource arises from 400 new drillholes and expansion of our mineralised outline by ABx’s proprietary exploration technology,” ABx Group managing director and CEO Mark Cooksey said in the company’s ASX announcement.

“This campaign has enhanced the higher-grade zones that are our top candidates for production studies.

“Because ABx is beginning economic studies, we have introduced a cut-off grade based on the gross value of contained rare earth oxides that allows us to easily vary the in-situ gross dollar value of resource estimates in the higher-grade zones.

“ABx’s resource is exceptionally enriched in permanent magnet rare earths, especially dysprosium and terbium, which have the highest global supply risk and are almost exclusively produced from ionic adsorption clay rare earth deposits in China and Myanmar.

“ABx is focused on creating a rare earths project that can address looming supply shortages of these critical minerals.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE