Codrus Minerals Completes Loupe EM Survey at Karloning REE Project
THE DRILL SERGEANT: Codrus Minerals (ASX CDR) recently completed an extensive Loupe Electromagnetic (EM) survey across a healthy portion of the company’s highly prospective Karloning clay-hosted rare earth elements (REE) project in the Wheatbelt region of Western Australia.
Codrus Minerals concentrated the survey on areas where previous drilling at Karloning had intersected mineralisation in both clays and saprock, including a standout intercept of:
KGAC054
29 metres at 5,915ppm total rare earths yttrium oxides (TREYO) from 12m, including 4m at 12,366pmm (1.2%) TREYO from 24m.
The company said it is using the information obtained from the geophysical survey to identify areas with a potentially well-developed clay profile over the underlying crystalline granite basement – which it considers represent priority areas for targeting further high-grade REE mineralisation.
Codrus highlighted these areas to represent key targets for zones of enriched REEs and low-cost air-core drilling (AC) will be planned to target these horizons.
It anticipates this will assist to substantially expand the scale and potential of what it sees as an emerging new clay-hosted REE discovery at Karloning.
“The data from this extensive Loupe EM survey has vindicated our decision to substantially increase our exploration footprint at the Karloning REE project,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.
“The survey was specifically designed to improve our ability to identify areas with a well-developed clay profile over the underlying granite basement, narrowing down the search space to areas that offer the best potential for more high-grade discoveries.
“Initial interpretation of the data indicates multiple areas where there is potential for high-grade mineralisation.
“The data will help to refine drill targeting, reduce the overall amount of drilling we need to do, and focus our efforts on areas where we expect to generate the best possible return for our shareholders.
“One of the key takeaways for investors is that our drilling to date covers just six per cent of our recently expanded landholding and the mineralisation to the north remains completely open.
“The next phase of exploration will help us to expand our exploration horizons significantly and unlock the full potential of this exciting discovery for our shareholders.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE