- Petratherm (PTR) uncovers three new areas of rare earth element mineralisation at the Comet project in South Australia
- The company says the best results come from the Southern Zone where drilling intersected 24 metres at 1094 ppm total rare earth oxides and 26 ppm scandium oxide
- The assays build on previous results which intersected significant mineralisation at REE Area 1 and at the Meteor prospect
- Next month, the company will undertake 4000 metres of drilling to test extensions of the mineralisation
- Petratherm shares end the day 2.67 per cent in the red to close at 7.3 cents
Petratherm (PTR) has discovered three new rare earth element (REE) prospect areas at the Comet project in South Australia.
The company received final drill results from the remaining 97 holes which included thick and high-grade intercepts, particularly in the Southern Zone area.
Notable results from the area include 13 metres at 1523 parts per million (ppm) total rare earth oxides (TREO) and 26 ppm scandium oxide from 15 metres, and 24 metres at 1094 ppm TREO and 25 ppm scandium oxide from nine metres.
Additional results come from the Area 1 NE Zone and include nine metres at 1427 ppm TREO and 62 ppm scandium oxide from six metres.
The thickness of intercepts range from 12 to 27 metres and start from a nine to 15-metre depth. The mineralisation remains open to the east and west, as well as to the north and south.
These assays build on previously reported results which intersected significant REE mineralisation at REE Area 1 and at the Meteor prospect.
Petratherm will undertake a 4000-metre drilling program next month at Meteor to test the extent of mineralisation before moving to the Southern Zone area.
Company shares ended the day 2.67 per cent in the red to close at 7.3 cents.