iTech Minerals (ASX:ITM) encounters further high-grade REEs at Caralue Bluff

• iTech Minerals (ITM) encounters further thick, high-grade rare earth elements (REE) at the Caralue Bluff Prospect in South Australia
• In April, ITM completed a 478-hole drilling program across four prospects to test the potential for regolith-hosted ion adsorption REEs and high-purity kaolin mineralisation
• The company has now received the results for a further 27 holes, with up to 2434 parts per million total rare earth oxide intersected
• Leaching testwork is now underway on 60 samples from Caralue Bluff, with results expected in the next four weeks
• iTech is up 6.85 per cent with shares trading at 39 cents at 10:33 am AEST

iTech Minerals (ITM) has encountered further thick, high-grade rare earth elements (REE) at its Caralue Bluff prospect in South Australia.

In April, the company completed a 478-hole drilling program across four prospects on the Eyre Peninsula to test the potential for regolith-hosted ion adsorption clay REEs and high-purity kaolin mineralisation.

iTech has now received the results for a further 27 holes, with 12 containing significant intervals of REEs above 350 parts per million (ppm) total rare earth oxide (TREO).

Intersections include 12 metres at 2343 ppm TREO from nine metres, 17 metres at 1774 ppm TREO from four metres and 12 metres at 1326 ppm TREO from six metres.

These results infill and expand the nature of the REE mineralisation in the southeast of the prospect.

Results are pending for a further 103 holes which are expected to be reported before the end of the month.

“The Caralue Bluff prospect continues to deliver thick, high-grade clay-hosted REE mineralisation, close to surface, over a large area of more than 10 kilometres by nine kilometres,” iTech Managing Director Mike Schwarz said.

“With over 100 drill holes still to be reported we hope to see the prospect continue to deliver.”

Leaching testwork is now underway on 60 samples from Caralue Bluff with results expected in the next four weeks.

iTech was up 6.85 per cent with shares trading at 39 cents at 10:33 am AEST.