Heavy Rare Earths (ASX:HRE) - Executive Director, Richard Brescianini
Executive Director, Richard Brescianini
Source: Heavy Rare Earths
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  • Heavy Rare Earths (HRE) identifies new zones of mineralisation at its Cowalinya project in Western Australia
  • The latest assay results are from a 435-hole resource expansion drilling program demonstrating the presence of saprolite-hosted rare earth mineralisation
  • The widest identified zone extends for more than two metres to the west and another zone is emerging to the east which will be confirmed with further assays
  • Heavy Rare Earths says the results received to date will enable an expansion of its metallurgical variability program
  • Shares in HRE are up 4.35 per cent, trading at 12 cents as of 1:46pm AEDT

Heavy Rare Earths (HRE) has identified new zones of mineralisation at its Cowalinya project in Western Australia.

The latest assay results are from the company’s 435-hole resource expansion drilling program which further demonstrate the presence of saprolite-hosted rare earth mineralisation.

The assays come from 39 air core holes, bolstering the data on hand from an initial 53-holes and show that the widest identified zone extends for over two-kilometres to the west of the Cowalinya South deposit.

Additionally, HRE noted a second zone of mineralisation around 600-metres wide that could indicate part of an easterly, south-easterly extension to the resource. This will be confirmed on receipt of further assay results, the company said.

Other coherent zones of rare earth mineralisation were identified up to 4.2 kilometres from the deposit.

The rare earth grades exceed the Cowalinya resource grade in 27 drill intervals up to 22 metres thick.

The latest results included six metres at 1862 parts per million (ppm) total rare earth oxides (TREO) from 20 metres, including four metres at 2593 ppm.

A wider interval of 18 metres graded 710 ppm TREO from 22 metres down hole and included two metres at 3068 ppm.

The company said the results from the first 92 drill holes would be enable an expansion of its metallurgical variability program.

Concurrently, Heavy Rare Earths has been granted two exploration licences for a combined 20 square kilometres immediately south-west and contiguous with its Cowalinya tenement.

Both tenements are on unallocated crown land and neither has been targeted for rare earths in previous exploration.

Heavy Rare Earths paid Future Metals (FME) $50,000 cash for both licences.

Shares in HRE were up 4.35 per cent, trading at 12 cents as of 1:46pm AEDT.

HRE by the numbers
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