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- Rare earths explorer RareX (REE) has engaged drilling contractors to begin a maiden drilling program at the Weld North Project
- Weld North lies north of Laverton in Western Australia and covers a large magnetic anomaly prospective for a carbonatite intrusive complex
- This complex is similar to the company’s own Cummins Range Rare Earth Project which has a maiden JORC 2012 inferred resource of 13 million tonnes
- Work is expected to begin in November and updates will be provided as operations progress
- RareX is up 12.5 per cent on the market and shares are trading for 18 cents each
Rare earths explorer RareX (REE) has engaged drilling contractors to begin a maiden drilling program at the Weld North Project.
Weld North lies north of Laverton in Western Australia and covers a large magnetic anomaly prospective for a carbonatite intrusive complex.
This complex is similar to the company’s own Cummins Range Rare Earth Project which has a maiden JORC 2012 inferred resource of 13 million tonnes at 1.13 per cent total rare earth oxide (TREO).
Further, Weld North is located 84 kilometres north of Lynas Corporation’s (LYC) Mt Weld carbonatite-hosted rare earth element deposit.
Mt Weld hosts a TREO resource of 54.5 million tonnes at 5.4 per cent TREO for 2.8 million tonnes of contained rare earth oxide (REO).
Work is expected to begin in November and updates will be provided as operations progress.
RareX is up 12.5 per cent on the market and shares are trading for 18 cents each at 11:18 am AEST.
