- RareX (REE) has doubled known mineralisation at depth within its Cummins Range project in WA
- The company began a drilling program last month with one hole extending mineralisation 250 metres down-dip and doubling the mineralised zone to at least 500 metres
- Managing Director Jeremy Robinson says the company has made a “great start” to the 2022 program which aims to drill out the recently announced exploration target
- RareX has sent samples to the lab for analysis and the third diamond hole is currently underway
- Company shares last traded at 7.9 cents on May 24
RareX (REE) has extended mineralisation at its Cummins Range rare earths project in Western Australia.
The company began a drilling program in April with 985 metres of diamond drilling and 1074 metres of reverse circulation (RC) drilling completed so far.
This program’s overall aim is to drill out the exploration target of 23 million tonnes at 1.6 per cent total rare earth oxides (TREO) to 41 million tonnes at 2.4 per cent TREO.
All three diamond holes drilled to date have intersected significant visual mineralisation, despite CDX0021 not reaching the high-grade target area.
CDX0020, intersected mineralisation down-dip of a drill hole completed in 2021 which intersected multiple mineralised zones totalling 51 metres of 2.5 per cent TREO intersected in the main fault position.
CDX0020 extended the rare earth mineralisation in the Main Zone 250 metres down-dip which doubles the extent of mineralisation to at least 500 metres below surface.
Drilling intercepted rare earths mineralisation in the last two metres before CDX0020 was lost at 666 metres down-hole. According to the company, this indicates that there isn’t a depth constraint to the Cummins Range intrusive complex and rare earth mineralisation.
The hole has been processed and is being transported to the lab for assaying.
Managing Director Jeremy Robinson said the company has made a “great start” to the 2022 program.
“The drilling completed to date has exceeded our expectations and goes a long way to vindicating the exploration target we published earlier this year,” Mr Robinson said.
“Importantly, we have already demonstrated that the scale of the system at depth is enormous, with the known dip extent of the mineralisation having effectively been doubled to 500 metres with hole CDX0020.”
Looking ahead, RareX plans to re-enter drill hole CDX0021 and CDX0023 is currently underway with a second diamond drill rig scheduled to arrive in early June.
Company shares last traded at 7.9 cents on May 24.