THE DRILL SERGEANT: RareX Limited (ASX: REE) reported on the first batch of assays it has received from a recently completed in-fill and extensional drilling program at the company’s 100 per cent-owned Cummins Range rare earths project in the Kimberley region of Western Australia.
RareX reported that assays from the first three Reverse Circulation (RC) holes have returned results above the current Inferred Resource for Cummins Range of 13 million tonnes at 1.13 per cent total rare earth oxide (TREO), including impressive widths and grades in both CRX0002 and CRX0003.
41m at 4 per cent TREO from 29m down-hole, including 29m at 5.2 per cent TREO from 29m, including 3m at 13.9 per cent TREO from 30m;
12m at 1.7 per cent TREO from 3m down-hole, including 3m at 4.8 per cent TREO; and
10m at 1.3 per cent TREO from 79m down-hole including 6m at 1.7 per cent TREO
36m at 4.6 per cent TREO from surface, including 3m at 25.1 per cent TREO from 15m down-hole;
11m at 1.8 per cent TREO from 50m down-hole, including 2m at 6.8 per cent TREO; and
5m at 1.3 per cent TREO from 86m down-hole including 1m at 4.1 per cent TREO
The in-fill drilling program was designed both to increase the confidence of the Resource from Inferred to Indicated category and to better define a higher-grade portion of the Resource.
“We could not have wished for a better start to our exploration campaign at Cummins Range,” RareX executive director Jeremy Robinson said in the company’s announcement to the Australian Securities Exchange.
“The objective of the recent program was to upgrade confidence levels in the current Resource, define a possible high-grade zone within the Resource and potentially increase the scale of the Resource.
“These first three holes have already gone a long way towards achieving these first two objectives, with the width and grade of the intercepts significantly exceeding our expectations.
“We are delighted with these initial results and look forward to updating the market on the balance of the assays as they come to hand.
“This drill program represents a major step forward in terms of adding value to the Cummins Range project and putting it on a clear trajectory towards development.”
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