- RareX (REE) suspends drilling at its Cummins Range project due to early wet season in Kimberley region of WA
- A total of 5272 metres of drilling was completed before work was halted, with all reverse circulation assays received and initial results returned from diamond drill holes
- REE says the results provide evidence of a primary mineralised zone at the project, with potential to expand the current mineral resource
- Assays are pending and once received the company will provide scope of the potential of the Cummins Range Project as a new rare earths development opportunity
- Shares were trading 4 per cent lower at 9.6 cents
The early arrival of the wet season in the Kimberley region of WA has forced RareX (REE) to suspend its 2021 drill program at the Cummins Range project.
REE’s subsidiary, Cummins Range, owns the project which has a Mineral Resource of 18.8 million tonnes at 1.15 per cent total rare earth oxides (TREO) and 0.14 per cent niobium.
Before work was halted, the company managed to complete 5272 metres of drilling, which included a combination of diamond core and reverse circulation drilling.
The program was designed to test for primary mineralisation below the regolith and has returned results that REE said confirms high grade primary rare earth and niobium mineralisation.
The initial assays from diamond drilling have been received with REE marking one intercept as “outstanding,” which included 34.6 metres at 1.3 per cent TREO and 0.4 per cent niobium, including 3.6 metres at 2.5 per cent TREO and 0.7 per cent niobium within an overall zone of 61.4 metres at 1 per cent TREO and 0.3 per cent niobium.
Coupled with visual results, REE said the initial diamond drill assays provide evidence of a primary mineralised zone at the project, with potential to expand the current mineral resource.
Additional assays are pending and expected to be received over the next two months.
The diamond drilling is the first to be undertaken at the project in over 40 years and the company said it is pleased with the initial results.
All reverse circulation drill assays have been received. One drill hole reportedly intersected two wide breccia zones with rare earth mineralisation the company considers significant.
Below this zone, a further wide zone was intersected which comprised 31 metres at 1.4 per cent TREO and 0.4 per cent niobium.
Commenting on the results, RareX’s Managing Director Jeremy Robinson said the company is encouraged by the results received so far.
“The presence of disseminated to massive monazite in fresh rock over multiple lenses to
depths of nearly 300m is very encouraging and highlights the huge potential of the underexplored Cummins Range Carbonatite,” he said.
Mr Robinson also said once received, the remaining assays will “help to scope out the potential of the Cummins Range Project as a major new rare earths development opportunity.”
Shares were trading 4 per cent lower at 9.6 cents at 4:10pm AEDT.