- Torian Resources (TNR) labels its Mt Stirling Project as a major “triple play” development after a “significant” critical minerals discovery at the Yttria prospect
- The first 30 auger vacuum drill holes have found cobalt and scandium mineralisation at the project, located in Leonora, Western Australia
- Executive Chairman Paul Summers says Torian has emerged this year as a multi-commodity explorer focusing on gold, REEs, and now critical minerals
- Torian is also planning to change its name to Asra Minerals which will be proposed at the annual general meeting next week
- Torian is up 18.2 per cent and trading at 3.9 cents per share
Torian Resources (TNR) has labelled its Mt Stirling Project as a major “triple play” development after a “significant” critical minerals discovery at the Yttria prospect.
The company has found cobalt and scandium minerals at the project, located in Leonora in Western Australia.
The first 30 auger vacuum drill holes at Yttria have found widespread occurrences of the critical minerals, and confirmed the presence of heavy rare earths elements (HREE).
Intercepts include 10 metres at 743 parts per million (ppm) total rare earths and yttrium oxides (TREYO) plus scandium oxides from seven metres, including two metres at 1351 ppm TREYO.
Yttia and the Wishbone prospect have a combined HREE, cobalt, scandium mineralisation potential strike of 3.6 kilometres.
Drilling programs are planned to extend REE mineralisation and deliver a maiden JORC Resource by the end of the third quarter this year.
Executive Chairman Paul Summers said Torian has emerged this year as a
multi-commodity explorer focusing on gold, REEs, and now critical minerals.
“The sheer size and homogenous distribution of scandium and cobalt at our Yttria prospect is an exciting addition to our endowment of the five most-in-demand REEs,” he said.
“An exceptionally high ratio of HREEs, a lack of processing nasties uranium and thorium,
and the potential of a 3.6-kilometre continuous HREE corridor amenable to known extraction technologies combine to position Yttria as a significant discovery for Torian.”
Torian is also planning to change its name to Asra Minerals which will be proposed at the annual general meeting next week.
“Torian was known for just gold. Asra will be known for gold, clean heavy rare earths, and
critical minerals. The company’s new ‘triple play’ focus deserves rebranding,” Mr Summers said.
“We are excited by our new brand and are looking forward to launching our new website in the coming weeks.”
Torian was up 18.2 per cent and trading at 3.9 cents per share at 10:23 am AEST.