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- ChemX Materials (CMX) flags the potential for “world-class” deposits at its Kimba kaolin-rare earth elements (REE) project following a recent bout of aircore drilling
- The company says final assays from targets at the South Australian project returned results of near-pure kaolinite grades with “very low” contained deleterious elements
- Managing Director David Leavy says the results provide a step forward in its geological understanding of the kaolin mineralisation and potential within the project
- Shares in ChemX closed 11.76 per cent higher at 19 cents
ChemX Materials (CMX) has flagged the potential for “world-class” deposits at its Kimba kaolin-rare earth elements (REE) project following a recent bout of aircore drilling
The company said drill hole results from the South Australian project returned assays at near-pure kaolinite grades with very low contained deleterious elements.
ChemX collected 363 drill samples from 80 holes in the area that it then submitted to the laboratory for ICP testing of sub-45 micron fractions. The company said assay results indicated the presence of significant volumes of kaolin with grades above 36 per cent alumina.
ChemX used the results to outline four key targets for its 2022 drill program: the Kelly Tank, Bunora South, Bunora East and Bunora East targets.
Managing Director David Leavy said the assay results provided a step forward in the company’s geological understanding of the kaolin mineralisation and potential within the project.
“As previously reported, the kaolin is associated with significant grades of clay-hosted REE,” Mr Leavy said.
“As an integral part of the REE study program, the Australian Nuclear Science and Technology Organisation (ANSTO) is undertaking a testwork program to determine the optimum conditions for liberating the REE from the clay host materials.”
The company said high-grade kaolin associated with REE enrichment had the potential to improve the overall economics of the project, should it proceed to development.
Shares in ChemX closed 11.76 per cent higher at 19 cents.
