- ChemX Materials (CMX) intersects “outstanding” rare earth elements (REE) at its Eyre Peninsula tenements in South Australia
- The company receives assays for an initial 129 samples, with up to 2614 parts per million total rare earth oxides intersected
- The company says the results highlight the prospectivity of the tenements for ionically adsorbed REEs
- ChemX will now assay the remainder of the samples to provide an understanding of the distribution of REE across the tenements
- Shares in ChemX are down 2.17 per cent and are trading at 22.5 cents at 2:29 pm AEST
ChemX Materials (CMX) has intersected “outstanding” rare earth elements (REE) at its Eyre Peninsula tenements in South Australia.
The company has received assays for an initial 129 samples, all indicating the presence of REE mineralisation.
Results include 17 metres at 1519 parts per million (ppm) total rare earth oxides (TREO) from 16 metres including four metres at 1833ppm TREO from 25 metres and four metres at 2614ppm TREO from 33 metres.
The company said these results highlighted the prospectivity of the tenements for ionically adsorbed REEs.
ChemX now plans to further assay the remainder of the samples to provide an understanding of the distribution of REE across the tenements.
Managing Director David Leavy said today’s assay results from the maiden drilling program at the Kimba and Jamieson Tank projects confirmed the presence of REE mineralisation across its Eyre Peninsula tenements.
“The next stage is to further confirm the extent of the mineralisation within the results of the samples currently in the laboratory and undergoing beneficiation in preparation for assaying,” Mr Leavy said
“We will also be undertaking metallurgical test work to determine the optimum process to maximise the recoverability of REEs from the host clays.”
Shares in ChemX were down 2.17 per cent and trading at 22.5 cents at 2:29 pm AEST.