- Taruga Minerals (TAR) reports the highest rare earths grades to date from the Morgans Creek prospect within its Mt Craig project in South Australia
- Rotary air blast drilling returned total rare earth oxides grading up to 9082 ppm within a broader interval of 43 metres at 1687 ppm total rare earth oxides
- The results also have a high basket average of 34 per cent magnet rare earth oxides, which is reportedly much higher than the peer average of 25 per cent
- Moreover, the second batch of results extends the mineralised strike by 300 per cent to 4.3 kilometres, and it remains open
- Taruga shares are up 7.69 per cent to trade at 3.5 cents at 12:30 pm AEDT
Taruga Minerals (TAR) has reported the highest rare earths grades to date from the Morgans Creek prospect within its Mt Craig project in South Australia.
The 2156-metre rotary air blast drilling program tested strike extensions of known clay-hosted rare earth element (REE) mineralisation intercepted at Hydrothermal Hill.
Drilling successfully intersected high-grade, clay-hosted REEs, with a highlighted result of one metre at 9082 parts per million (ppm) total rare earth oxides (TREO) from 13 metres.
This intercept lies within five metres at 3343 ppm TREO from 12 metres, also within a broader interval of 43 metres at 1687 ppm TREO from surface to end-of-hole.
Taruga said the newest set of results extended the mineralised strike by 300 per cent, from 1.4 kilometres to 4.3 kilometres, and it remained open.
The company also noted that the results had a basket average of 34 per cent magnet rare earth oxides (MREO), which is higher than the peer average of 25 per cent MREO.
MREOs include rare earths such as neodymium, praseodymium, dysprosium and terbium.
CEO Thomas Line described the intercepts as “remarkable”.
“They are by far the highest grades we have seen at Morgans Creek to date, with the highest grade exceeding 9000 ppm TREO. Many of the intercepts start from surface and end in mineralisation, with some holes ending in high grade,” Mr Line said.
“We are excited to return to complete systematic drilling over the Yednalue formation and other new clay-hosted REE targets at Morgans Creek early in Q1 2023.”
All remaining samples that weren’t originally despatched have now been sent for lab analysis, with the results expected in late November.
Taruga shares were up 7.69 per cent to trade at 3.5 cents at 12:30 pm AEDT.