The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Desert Metals (DM1) posts further “outstanding” rare earth results from the Innouendy project in Western Australia
  • Thirty-three aircore holes were completed across the project, 78 per cent of which contained total rare earth oxide grades of over 300 parts per million
  • Desert Metals says the new assays continue to confirm the high-grade, widespread, thick and continuous nature of rare earth element mineralisation at the project
  • A program of follow up drilling is planned to both infill and further test the extent of the discovery, with work scheduled to begin early in the new year
  • Desert Metals shares are down 4.35 per cent, trading at 22 cents at 1:30 pm AEDT

Desert Metals (DM1) has posted further “outstanding” rare earth assay results from its Innouendy project in Western Australia.

The company has now received all assay results from drilling completed this year at the project.

The latest batch of results come from the Cattle Yard prospect and two new rare earth element zones.

Thirty-three aircore holes were completed across the project, spanning 21 kilometres, with 78 per cent of the holes containing total rare earth oxide grades of over 300 parts per million.

Intersections from saprolitic clays included 31 metres at 1425 parts per million (ppm) from 48 metres, including four metres at 3775 ppm, and 16 metres at 1767 ppm from 12 metres, including four metres at 4536 ppm.

Desert Metals said the new assays continue to confirm the high-grade, widespread, thick and continuous nature of rare earth element mineralisation at Innouendy.

A program of follow up drilling is planned to both infill and further test the extent of the discovery, with work scheduled to begin early in the new year.  

Desert Metals was down 4.35 per cent, trading at 22 cents at 1:30 pm AEDT.  

DM1 by the numbers
More From The Market Online
The Market Online Video

ASX Daily Close: ASX matches futures prediction on a green Friday | 21 June 2024

The ASX200 reversed its trend to end the week in the green, up 0.35%. Nearly all…
The Market Online Video

ASX Market Update: Stocks swing from green with energy to remorseful red | 21 June, 2024

The ASX200 came out the gate in the green on Friday, but slipped well below the red line within the first hour of

Week 25 Wrap: No RBA cut yet; India stocks shake off Modi jitters; China concerns remain

The RBA keeps rates on pause; Guzman Gomez falls nearly -5% on Friday; Droneshield's new ATH;…

Plagues precede widespread power shifts. We’re living in one – and minerals are at the fore

The one defining feature of our post-COVID 'new normal' is a USA swing towards domestic supply…