THE DRILL SERGEANT: RareX Limited (ASX: REE) reported results from the most recent drilling completed at the company’s 100 per cent-owned Cummins Range rare earths project in the Kimberley Region of Western Australia.
RareX has completed a further 18 holes (CRX0020 to CRX0037) as part of its in-fill and extensional drilling program at Cummins Range.
The objective of the drilling was to upgrade the current Inferred Resource of 13 million tonnes at 1.13 per cent total rare earth oxide (TREO) with 22.1 per cent neodymium-praseodymium (NdPr), and to define a high-grade component.
62 metres at 2.6 per cent TREO and 0.5 per cent niobium pentoxide (Nb2O5), including 25m at 4.4 per cent TREO and 0.6 per cent Nb2O5, including 6m at 9.4 per cent TREO and 1.5 per cent Nb2O5;
45m at 2.4 per cent TREO and 0.5 per cent Nb2O5, including 20m at 4 per cent TREO and 0.9 per cent Nb2O5, including 6m at 6.2 per cent TREO and 1.4 per cent Nb2O5;
CRX0032 – Open to the north
46m at 2 per cent TREO and 0.2 per cent Nb2O5, including 5m at 3.1 per cent TREO and 0.2 per cent Nb2O5, including 8m at 5.1 per cent TREO and 0.4 per cent Nb2O5, including 3m at 8 per cent TREO and 0.3 per cent Nb2O5;
CRX0033 – Open to the south
52m at 1.2 per cent TREO and 0.2 per cent Nb2O5, including 3m at 4 per cent TREO and 0.3 per cent Nb2O5;
CRX0022 – Open to the south
16m at 3.8 per cent TREO and 0.2 per cent Nb2O5, including 3m at 14.8 per cent TREO; and
CRX0025 – Open at depth
15m at 5.3 per cent TREO and 0.3 per cent Nb2O5, including 5m at 10.2 per cent TREO and 0.4 per cent Nb2O5.
RareX interpreted the recent drilling to demonstrate mineralisation is thickening towards the east in the central portion of the current Inferred Resource, while maintaining excellent widths and grades.
“I think it’s fair to say that the vast majority of the results received to date have exceeded our expectations in terms of width and grade, giving us a high degree of confidence in the ability to define a solid high-grade component as part of the resource update planned for early next year,” RareX managing director Jeremy Robinson said in the company’s ASX announcement.
“The thick, bonanza grade mineralisation in the north-west sector of the deposit was certainly a pleasant surprise and we are now seeing much thicker zones in the central part of the deposit while still achieving some really strong grades well above the average grade of the current Inferred Resource.
“We are now awaiting results from the final 21 holes, which should be received over the next 2 to 3 weeks.
“That will pave the way for work to begin on the updated Mineral Resource, which we are targeting for completion and reporting early in the New Year.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE