THE BOURSE WHISPERER: Northern Minerals has received final assay results from a Heavy Rare Earth Element (HREE) drilling program carried out at Browns Range, located in northern Western Australia.
The company said besides confirming HREE mineralisation at the first four targets at Browns Range, the drilling has returned the highest grades of HREE received to date at the project and has confirmed the Wolverine HREE prospect to be an, “outstanding discovery”.
Wolverine Prospect – Drill cross section. Source: Company announcement
Northern Minerals is encouraged enough by the results to now move the project toward production, with further drilling and scoping studies set to commence in the coming months.
The drilling results also included the highest HREE grades received to date, from a hole at the Area 5 prospect.
Best intersections from the latest assay results include:
24 metres at 2.18 per cent Total Rare Earth Oxides (TREO) (2,072 parts per million dysprosium) from 96 metres (to End Of Hole) including 7 metres at 5.35 per cent TREO (5,151ppm dysprosium) from 112 metres;
6m at 2.68 per cent TREO (2,321ppm Dy) from 99m (to EOH), including 2m at 6.71 per cent TREO (5,838ppm Dy) from 103m (to EOH); and
5m at 1.1 per cent TREO (979ppm Dy) from 95m;
Area 5 and Area 5 North:
4m at 7.14 per cent TREO (6,712ppm Dy) from 4m, including 2m at 13.9 per cent TREO (13112ppm Dy) from 4m;
3m at 2.13 per cent TREO (944ppm Dy) from 70m;
19m at 0.73 per cent TREO (517ppm Dy) from 56m, including 3m at 1.66 per cent TREO (1339ppm Dy) from 62m;
3m at 1.23 per cent TREO (1,040ppm Dy) from 1m;
3m at 1.41 per cent TREO (1,093ppm Dy) from 14m;
7m at 1.08 per cent TREO (868ppm Dy) from 67m; and
3m at 1.62 per cent TREO (1,281 ppm Dy) from 44m.
“These results have surpassed our expectations, and have really established Browns Range as an exciting HREE project,” Northern Minerals managing director George Bauk said in the company’s announcement to the Australian Securities Exchange.
“We are now moving as quickly as possible to take the project forward, and the next milestones are to define a JORC resource and complete scoping studies which we are aiming to do in the first half of next year.
“Based on these results, Northern Mineral’s strategy is to develop a project to produce and deliver 3,000 tonnes per annum contained HREO in concentrate in 2015.”