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- RareX (REE) has identified new nickel-copper-Platinum Group Element (PGE) targets at the Byro East Project
- The company applied for the two tenements in January as the Geological Survey of Western Australia showed the area contained PGE anomalies
- Following Chalice’s Julimar discovery, RareX reviewed available geological data for Byro East, as both lie within the Western Gneiss Terrain
- The exercise identified multiple ultramafic intrusions and at least one nickel-copper-PGE gossan
- The company intends to carry out ground exploration at Bryo East later this year, once the tenements are granted
- Shares have been trading 8.45 per cent higher at 7.7 cents
RareX (REE) has identified new nickel-copper-Platinum Group Element (PGE) targets at the Byro East Project in WA.
The company applied for the two tenements, E09/2386 and E09/2387, in January as the Geological Survey of Western Australia showed the area contained consistent PGE anomalies.
Following Chalice Gold (CHN)’s Julimar nickel-copper-PGE discovery in March, RareX reviewed available geological data for Byro East, as both lie within the Western Gneiss Terrain.
The exercise identified extensions to the Milly Milly Intrusion and multiple ultramafic intrusions within the Byro East ultramafic corridor and the Brockman ultramafic corridor, as well as at least one nickel-copper-PGE gossan.
The company expects the ground to be granted later this year and intends to then carry out ground exploration following exploration at its Cummins Range Rare Earths Project in the Kimberly and Weld North circular anomaly in WA.
Shares have been trading 8.45 per cent higher at 7.7 cents at 1:15 pm AEST.
