ABx Group’s Rare Earths Resource Update Exceeds 20Mt Milestone

THE CONFERENCE CALLER: ABx Group (ASX: ABX) has continued the trend of expanding the rare earth elements (REE) deposit at its Deep Leads – Rubble Mound project. By Ngaire McDiarmid

Speaking to The Resources Roadhouse on the sidelines of the 2023 RIU Sydney Resources Round-up, ABx Group said it had increased the Mineral Resource by 50 per cent to 21 million tonnes – from 18 per cent of the prospect area – at its project in northern Tasmania.

The upgrade stemmed from 30 new holes, redrilling old bauxite holes that did not reach the REE horizon and more assays from incompletely assayed thick REE zones.

“There’s a clear pathway to grow the resource, and also the grade and the thickness are both higher than our last than our last announcement,” managing director and CEO Dr Mark Cooksey said.

“So that journey of gradually increasing the size and quality of the resource is continuing.”

Meanwhile, the company’s 83 per cent-owned subsidiary Alcore Limited is focused on building a pilot plant to turn aluminium industry waste into aluminium fluoride and other industrial chemicals.

Cooksey said he expected the plant to be built this year and commissioned early next year.

ABx is also advancing its bauxite projects in Queensland and Tasmania.