- West Cobar Metals (WC1) commences a phase one, 9000-metre aircore drilling program at its Salazar clay rare earth element (REE) project in Esperance, Western Australia
- The company says the drilling work will be completed in early 2023 and is planned to extend the existing inferred resource at the Newmont deposit
- Assay results from the drilling are expected within four to six weeks of sample dispatch and will be integrated with available historical data
- These results and data will then provide the basis for an updated inferred resource for the Newmont deposit, expected to be delivered in the second quarter of 2023
- Shares in West Cobar are up 2.94 per cent and trading at 17.5 cents at 2:50 pm AEDT
West Cobar Metals (WC1) has commenced a phase one, 9000-metre aircore drilling program at its Salazar clay rare earth element (REE) project in Esperance, Western Australia.
The company said phase one drilling will be completed early in the new year and is planned to extend the existing inferred resource of 43.5 million tonnes (Mt) at 1192 parts per million (ppm) total rare earths oxide (TREO) at the Newmont deposit.
The program will also explore the southern part of the deposit and the O’Connor licence area.
Assay results from the drilling are expected within four to six weeks of sample dispatch, which will be integrated with available historical data.
These results and data will then provide the basis for an updated inferred resource for the Newmont deposit, expected to be delivered in Q2 2023.
“We are very pleased to have commenced drilling at our Salazar REE project, which already stands as one of the more advanced clay-hosted REE projects in Australia,” Non-Executive Chair Rob Klug said.
West Cobar has also re-engaged beneficiation trials with the University of Newcastle and is in the process of re-engaging metallurgical studies with industry partners in the new year.
The company has planned to commence aeromagnetic surveys and drill programs at its Cobar West projects once landholder negotiations have concluded.
West Cobar’s programs of work (PoWs) for the planned drill programs have been approved by the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS).
Shares in West Cobar were up 2.94 per cent and trading at 17.5 cents at 2:50 pm AEDT.