RareX (ASX:REE) - Executive Director, Jeremy Robinson - The Market Herald

  • Rare earths explorer RareX (REE) has returned the highest-grade drilling results yet from its Cummins Range deposit in WA’s Kimberley region
  • One 90-metre sample graded 3.8 per cent total rare earth oxides (TREO) and 0.3 per cent niobium pentoxide (Nb2O5) from four metres below surface
  • These assays confirm the presence of an outcropping, thick, high-grade mineralised channel trending northwest 100 metres along strike from previous drilling
  • The extensional and in-fill drilling is seeking to expand the overall inferred mineral resource of 13 million tonnes at 1.13 per cent TREO with 22 per cent NdPr content
  • Further assay results are expected from Cummins Range next week
  • RareX is trading 6.67 per cent higher for 16 cents

Rare earths explorer RareX (REE) has returned the highest-grade drilling results yet from its Cummins Range deposit in WA’s Kimberley region.

Long and strong

Assays have been returned for the most recent drilling, with one outstanding intercept of 90 metres at 3.8 per cent total rare earth oxides (TREO) and 0.3 per cent niobium pentoxide (Nb2O5) from four metres below surface.

A second drill hole returned a best intercept of eight metres at 3.3 per cent TREO and 0.1 per cent Nb2O5 from 26 metres.

These most recent assays confirm the presence of an outcropping, thick, high-grade mineralised channel trending northwest 100 metres along strike from previous drilling.

The new holes also have very high-grade seams within the broader mineralised zone, with with smaller intercepts up to three metres at 11.3 per cent TREO, five metres at nine per cent TREO and two metres at 10.4 per cent TREO.

The extensional and in-fill drilling is seeking to expand the overall inferred mineral resource of 13 million tonnes at 1.13 per cent TREO with 22 per cent NdPr content.

RareX Managing Director Jeremy Robinson says the new results are world-class.

“90 metres at 3.8 per cent TREO is easily the best-ever hole drilled at Cummins Range and would have to be up there globally from anything I can recall,” Jeremy said.

“It provides a strong indication of the quality, scale and grade of this deposit, which is characterised by its high neodymium-praseodymium (NdPr) content and location in a tier-one mining jurisdiction,” he continued.

“We continue to be impressed by Cummins Range and look forward to receiving further assay results that will pave the way for an updated mineral resource, as well as commencing drilling at Weld North next month,” Jeremy concluded.

Outlook

Further assay results are expected from Cummins Range next week.

The company has already engaged a drill contractor for its maiden drilling program at its Weld North project in WA’s Laverton district next month.

RareX is trading 6.67 per cent higher for 16 cents at 11:15 am AEDT.

www.themarketherald.com.au