Join our daily newsletter At The Bell to receive exclusive market insights
- iTech Minerals (ITM) gets the final batch of results from resampling of historical drilling at the Ethiopia prospect in South Australia
- The company says new results confirm thick, high-grade rare earth elements with one hole showing enriched neodymium and praseodymium as well as heavy rare earths
- To determine the extent to which the REEs can be ionically leached, REE leaching testwork is being undertaken
- iTech is also preparing to conduct drilling across the Eyre Peninsula kaolin-REE project
- ITM shares were up 9.52 per cent to trade at 23 cents at 12:00 pm AEDT
iTech Minerals (ITM) has received the last batch of analytical results from resampling of historical drilling at the Ethiopia prospect in South Australia.
The latest results include 32 metres at 1633 parts per million total rare earth oxides (TREO) (-45µm) including 24 metres at 1966ppm TREO (-45µm) from four metres in hole ETH-029.
iTech said these results confirmed its expectation of thick, high-grade rare earth elements (REE). The rare earths in ETH-029 show enriched neodymium and praseodymium (roughly 24 per cent Nd+Pr) which are critical for producing permanent magnets for electric vehicles and renewable energy.
The drill hole also reportedly shows a greater enrichment of high value heavy rare earths (36 per cent).
Additional results include 30 metres at 977ppm TREO (-45µm) from two metres and 26 metres at 866ppm TREO (-45µm) from two metres.
Managing Director Mike Schwarz commented on the results.
“With continued good grades and thick intervals of REEs in the kaolin rich clay at Ethiopia, it is now important to determine how cost effectively the REEs can be recovered. The REE leaching test work being undertaken at ANTSO will be a good first step in determining the extent to which the REEs can be ionically leached.”
Now that iTech Minerals has received the final results from beneficiation testwork, it will commence scoping testwork on the potential for ionic leaching of the REE mineralisation.
The company is also preparing to begin drilling across the Eyre Peninsula kaolin-REE project.
ITM shares were up 9.52 per cent to trade at 23 cents at 12:00 pm AEDT.
