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ABx Group (ASX:ABX) has this week expanded its larger rare earths footprint in northern Tasmania after securing a new exploration licence covering 165 square kilometres, which goes some way to strengthening its position in one of Australia’s emerging ionic adsorption clay rare earth districts.
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The new licence was granted by MinRes Tasmania and is ~30 kilometres north of ABx’s Deep Leads rare earth resource. It increases the company’s prospective rare earth tenure in northern Tasmania to over 800 square kilometres.
Investors have increasingly focused on ionic adsorption clay rare earth projects due to their potential to host valuable magnet rare earth elements used in electric vehicles, renewable energy infrastructure, and defence techs.
ABx leadership said the grant highlights the growing recognition of northern Tasmania as an emerging province and provides additional support for more exploration.
ABx is now preparing its next exploration campaign, with field activities scheduled to commence in August. The company also plans to incorporate artificial intelligence tools into its exploration workflow, using geological and metallurgical datasets to assist with target generation and exploration planning.
Aussie market sentiment around the announcement is likely to be constructive, with investors generally viewing tenure expansion and government-backed drilling support as positive indicators for future exploration success. The focus will now shift to the upcoming August field program and whether ABx can continue to grow its rare earth inventory across northern Tasmania.
ABX shares last traded at 47c/share.
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