ASX-listed Godolphin Resources believes maiden metallurgical results from independent laboratory Australian Nuclear Science and Technology Organisation (ANSTO) have confirmed the low-cost development potential of its Narraburra rare earths project in New South Wales.
The company says a recovery rate of 92 per cent of the key magnet rare earths praseodymium, neodymium, terbium and dysprosium, puts the project in a good position ahead of larger-scale testing and a bulk sampling program.
The results were drawn from six diamond drill core samples across a range of rock types. Extraction of heavy rare earths was preferred over light rare earths, with individual rates of 94 per cent for neodymium, 90 per cent for praseodymium, 83 per cent for terbium and 80 per cent for dysprosium.
Godolphin says the aim of the testwork was to provide a better understanding of Narraburra’s rare earth elements and rare metals composition, with ANSTO having more than 30 years of expertise and experience in critical minerals and rare earths extraction processing.
Notably, management says there was a significant increase in the rare earths extraction for the clay-rich samples when tested at 50 degrees celsius for 24 hours.
Godolphin managing director Jeneta Owens said: “These first results also indicate Narraburra as an Ionic Clay-hosted source of Rare Earths, which are very amenable to relatively low cost processing, as opposed to hard rock sources, which require substantially more complex and expensive, processing methods. This will play very well for Godolphin, particularly as discussions with offtake partners commence.”
The results will be used as part of Narraburra’s updated mineral resource estimate which is currently being finalised to JORC 2012 standards and is expected in the coming weeks. The prior resource reveals there is 73.2 million tonnes at 1250 grams per tonne zirconium oxide, 327g/t rare earth oxides, 146g/t yttrium oxide, 126g/t niobium oxide and 118g/t lithium oxide.
Located some 340km west of Sydney in central NSW, Narraburra is in the geologically-important Lachlan Fold Belt - a well-established mining precinct with access to extensive infrastructure. The project laid largely untouched until 1999, when rare earths were found in the Devonian Age rocks resting in the granite.
Narraburra has been earmarked as one of Australia’s biggest zirconium, rare earth elements and rare metals resources while also being prospective for lithium. It received a political boost when it was afforded “critical minerals project” status by the Australian Trade and Investment Commission.
Mining and processing of rare earths is dominated by China, with the People’s Republic controlling up to 90 per cent of both the upstream and downstream processes, depending on who you believe. But what is undoubted, is that demand for rare earths has skyrocketed given their essential use in several industries linked to the green-energy transition.
Yesterday, the UK Minister for the Indo-Pacific, Anne-Marie Trevelyan, signed a letter of intent with Australia’s Federal Resources Minister, Madeleine King, in an effort to lock in supply as both countries work towards achieving their goals of net zero emissions.
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