The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • West Cobar (WC1) reports more “high-grade” results from its 283-hole maiden aircore drilling program at the Newmont and O’Connor prospects in WA
  • The latest batch of assays from 68 holes at the Newmont deposit returned results of up to 2626 parts per million total rare earth oxides from 18 metres deep
  • WC1 says all Newmont results received so far lie outside of the existing inferred resource in the area, showing mineralisation extends to the north and south
  • The company is still awaiting assays for another 175 holes completed in the area, which it expects to receive in March
  • WC1 shares are trading at 15.5 cents at 1:40 pm AEDT

West Cobar metals (WC1) has reported more “high-grade” results from its 283-hole maiden aircore drilling program at the Newmont and O’Connor prospects within its Salazar clay project in WA.

The latest batch of assays came from 68 holes at the Newmont deposit and returned results such as seven metres at 2626 parts per million (ppm) total rare earth oxides (TREO) from 18 metres deep

Other results include 15 metres at 1028 ppm TREO from 17 metres and 11 metres at 1415 ppm TREO from eight metres.

“We continue to be highly encouraged by the assay results coming from the Salazar project, which still represent less than 35 per cent of the total number of drill holes completed,” West Cobar Non-Executive Chairman Rob Klug said.

“We are seeing significant thicknesses and REE grades extending outside the existing inferred resource at Newmont which may be included in the resource upgrade to be undertaken once all the remaining assays are received.”

The recent drilling was designed to extend and infill an inferred resource of 43.5 million tonnes of rare earth elements (REE) at 1192 ppm TREO in the Newmont area.

West Cobar is still awaiting assays for another 175 holes completed in the area, which it expects to receive in March alongside the results from 27 holes completed in the O’Connor area.

WC1 shares were trading at 15.5 cents at 1:40 pm AEDT.

Phase one also explored part of the O’Connor license area within the Salazar project

WC1 by the numbers
More From The Market Online
The Market Online Video

ASX Market Close: Bourse finishes week on a high as Wisetech pummeled | November 22, 2024

The ASX200 closed up 0.85% at 8,393 points. Economists increasingly expect interest rates in Australia won’t…
The Market Online Video

HotCopper Highlights: Your most watched stocks for Week 47, 2024

In this segment we’ll look at the top stocks HotCopper users have been watching, and discussing,…
Nuclear explosion mushroom cloud concept

Week 47 Wrap: HotCopper users’ most watched; Brent lifts on Putin’s scary letter; RFK dents CSL

Welcome to the end of another week. Let's start with what HotCopper users have been watching…
Dale Gillham's photo, and wording 'Words from Wealth Within's Chief Analyst Dale Gillham.

Dale Gillham’s weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

The $8.8 billion dollar merger between Sigma Healthcare and Chemist Warehouse is poised to reshape the Australian pharmacy landscape, consolidating power in th…