Following on from a series of high-grade results at its Tasmanian rare earths discoveries, ABx Group has embarked on a 120-hole drilling campaign that seeks to extend the mineralised zone between the company’s Deep Leads and Rubble Mound prospects.
The warmer summer months mean drill rigs that were previously unable to reach low-lying targets during the wetter than expected winter will be able to belatedly do so. The campaign is expected to last for three months and first results could start flowing in the next few weeks.
The diversified metals company tabled a maiden 3.94 million tonne rare earths resource at its Deep Leads – Rubble Mound channel area within its northern Tasmanian portfolio in November last year.
The inventory offers an average total rare earths oxide, or “TREO” grade of 918 parts per million and ABx expects the asset’s footprint to expand from the latest campaign.
ABx Group CEO Dr Mark Cooksey said: “This is a critical campaign in understanding the potential scale of ABx’s REE domain in northern Tasmania. While this campaign will seek to extend the mineralised zone between the Rubble Mound and Deep Leads discoveries, it may be extended to also test the 13.5km corridor between Wind Break and Rubble Mound / Deep Leads.”
The company has also applied for a new exploration licence that will cover the corridor between Deep Leads, Rubble Mound and its Wind Break discovery which sits 13.5km northeast of Deep Leads.
Management says it has a strong indication that any future exploration will connect all three of the discoveries that it hopes will form a large rare earths domain that already extends over an area that is 13.5km x 7km so far.
ABx is one of a handful of ASX-listed companies that lay claim to projects which host the lucrative ionic clay-style deposits that have drawn comparisons with some of China’s best.
Clay style rare earths deposits have grabbed the headlines recently due to their cost effective processing and potentially massive mineralised horizons that can be jam packed with permanent magnet materials including terbium, dysprosium, praseodymium and neodymium – all critical components in the construction of electric vehicles engines.
ABx’ mineralisation is concentrated within shallow depths of between 6m and 16m from surface and contain mostly very low concentrations of the radioactive elements thorium and uranium.
The company plans to update its JORC-compliant mineral resource towards the end of March once sufficient laboratory results are received and data from the latest exploration has been reviewed and modelled.
The drill bit will do the talking for now however.
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