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- RareX (REE) unveils more “significant” assay results from diamond drilling at its Cummins Range rare earths project in WA’s Kimberley region
- The assays come from the diamond portion of three drill holes, with one hole revealing a newly-discovered deeper zone from 275 metres down-hole
- RareX says the results increase its confidence in the Cummins Range exploration target and highlight the “outstanding potential” to expand the project’s mineral resource
- RareX is now awaiting assay results from the reverse circulation (RC) portion of its 2021 drilling program ahead of a new drilling program to begin in April
- Shares in RareX were trading grey at 9.5 cents each as of 1:36 pm AEDT
RareX (REE) has today unveiled more “significant” assay results from diamond drilling at its Cummins Range rare earths project in WA’s Kimberley region.
The company said today’s results further increase its confidence in the recently-announced exploration target in the project area while highlighting the “outstanding potential” to expand the Cummins Range mineral resource.
The assays come from the diamond portion of three drill holes, with one hole revealing a newly-discovered deeper zone from 275 metres down-hole. From this zone, REE struck a 21.9-metre hit at 1.7 per cent total rare earth oxides (TREO), and this zone remains open in all directions including up-dip.
REE struck several other mineralised zones through the diamond portion of these three holes.
Managing Director Jeremy Robinson said today’s results, which mark the final batch of assays from diamond drilling in the project area, continued to support the “huge growth potential” in the primary Cummins Range zone alongside new discoveries at depth.
“This gives us great confidence in the outlook for Cummins Range as we prepare to embark on the next major phase of resource expansion drilling, commencing in two-to-three weeks,” Mr Robinson said.
“This next phase of exploration will be designed to convert the exploration target into JORC resources and to elevate the project into what we believe it represents — a top-three rare earths deposit in Australia and one of the largest and most significant new development assets globally.”
RareX said it was now only awaiting assay results from the reverse circulation (RC) portion of its 2021 drilling program.
Shares in RareX were trading grey at 9.5 cents each as of 1:36 pm AEDT. The company has a $53 million market cap.
