THE DRILL SERGEANT: RareX Limited (ASX: REE) informed of the identification of numerous nickel-copper-PGE targets on the company’s 100 per cent-owned Byro East project, located in the Western Gneiss Terrane north-west of Geraldton in Western Australia.
RareX pegged Byro East in February this year for rare earths exploration, after which it carried out a geological review subsequent to the Julimar discovery of Chalice Gold Mines (ASX: CHN).
The review highlighted the presence of ultramafic intrusions within the Narryer Gneiss Complex.
RareX completed a further review of publicly available data that showed its new landholding contains extensions of the Milly Milly Intrusion and multiple other ultramafic intrusions contained within the Byro East ultramafic corridor and the Brockman ultramafic corridor.
The company is of the opinion that the geological setting of the Milly Milly Intrusions is analogous to the Gonneville Intrusion that hosts the Chalice discovery.
“RareX has now begun collating all previous exploration data and reprocessing historical geophysical data ahead of the ground being granted in the coming months, with ground-based exploration expected to follow on from Cummins Range and Weld North later this year,” the company said in its ASX announcement.
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