- Frontier Resources (FNT) reports a number of encouraging results from a recent rock chip sampling program at its Gascoyne Project in WA
- The program confirms the presence of rare earth element (REE) mineralised ironstone, with best results of 4800 parts per million (ppm) Total Rare Earth Oxide’s (TREO)
- Additionally a review of Geoscience Australia’s Capricorn Regional Electromagnetic Survey shows the Gifford Creek Carbonatite Complex underlies FNT’s Gascoyne asset
- The data will help drive FNT’s exploration strategy going forward, with Southern Geoscience assigned to process the recently flown magnetic radiometric survey
- Shares in Frontier Resources are down 4.17 per cent at 2.3 cents each
Frontier Resources (FNT) is reporting a number of encouraging results from a recent rock chip sampling program at its Gascoyne Project in Western Australia’s Pilbara region.
The business said assays from the program at the site confirmed the presence of rare earth element (REE) in the outcropping mineralised ironstone.
Best results include 4800 parts per million (ppm) Total Rare Earth Oxide’s (TREO) from sample GPR010 at outcropping ironstone.
The company plans to follow up the results with additional sampling at the mineralised ironstone with the aim of finding higher grades along the strike of the outcrop.
Along with the rock chip sampling, FNT also provided an update on a recent survey by Geoscience Australia on a nearby tenement.
The review of the Capricorn Regional Electromagnetic Survey shows the Gifford Creek Carbonatite Complex underlies FNT’s Gascoyne asset.
The data will help drive FNT’s exploration strategy going forward, with Southern Geoscience assigned to process the recently flown magnetic radiometric survey.
Frontier Resources Non-Executive Director Brian Thomas added that the survey confirms Gascoyne could host significant rare earth oxide mineralisation.
“The The Gifford Creek Carbonatite Complex is a large mineral system, with multiple rare earth deposits discovered to date and host to the world class Yangibana deposit,” Mr Thomas said.
“From the geophysical data we can infer the continuation of the Gifford Creek Carbonatite Complex into our tenure which is highly encouraging.
“Furthermore, the assays returned from the first pass rock chip sampling program has confirmed rare earth oxide mineralisation at an outcropping ironstone, which requires further investigation.”
Frontier Resources were trading down 4.17 per cent at 2.3 cents per share at 11:34 am AEDT.