Junior gold explorer, Torian Resources looks set to add rare-earth metals to its arsenal with the discovery of a significant yttrium anomaly at its Mt Stirling project in WA’s Eastern Goldfields. A broad one kilometre surface soil anomaly has been uncovered at the project with peak values up to 521 parts per million of yttrium. The critically-listed rare earth metal is used in various technologies including renewables and electric vehicles.
A total of 151 auger vacuum, or “AV” drill holes peppered the regionally significant Arktos Fault and adjacent structures at Mt Stirling as part of a broader gold search.
AV drilling is typically used in the exploration industry as a first pass broad-scale technique to probe the upper soil. The samples are tested for multi-element anomalism, including rare earth minerals, that are key indicator elements in the hunt for gold.
Management said the focus on the presence of yttrium in surface soil samples was to guide AV drilling for gold exploration.
In a technical coup for the company, Torain said handheld portable X-Ray Flourescence, or “pXRF” analysis at one metre oxide intervals in the drilling samples revealed the enrichment of discrete yttrium anomalies on a broad 1km scale.
From the 151 AV drill holes completed, 36 holes reportedly contain anomalous yttrium values greater than 100 ppm with a peak grade of 521 ppm.
Torian said 170 one metre intervals from 41 AV drill holes have been submitted to the laboratory for multi-element analysis, including yttrium and other rare earth elements. The results are expected by the end of the month.
Torian Resources Executive Director, Peretz Schapiro said:“We are excited to potentially add a rare earths project to our development plans at the Mt Stirling Gold Project. The supply shortages of rare earths have been well documented and have led to significant price increases in the sector. These increases seem to be happening at a much faster rate than even some of the more bullish predictions from just a few months ago.”
An additional 5,000m of AV drilling is being smashed out over the Mt Stirling project to test high priority gold targets whilst also gaining a greater understanding of the scale and significance of the rare earth potential.
The Perth based gold explorer also continues its energetic 17,500m drilling blitz at Mt Stirling after securing the services of a highly coveted third reverse circulation drill rig. The campaign has been designed to test multiple regional high priority gold targets whilst also looking to lift the company’s existing 100,000 ounce plus Mt Stirling inferred resource to the higher confidence indicated category. An updated mineral resource estimate is anticipated in the first quarter of this year.
A further 12 drill holes have been completed in the 38-hole Mt Stirling-Viserion program with drilling also commencing at the Skywing gold targets.
The company said the next set of metre assay results have also been received from composite assay results and are being compiled in preparation to release to the market.
As the rigs continue to churn out the metres for the junior gold-explorer and the assay results pour in, market watchers will no doubt be closely following further news flow from Torian. With the market hungry for critically listed metals, the rare earth potential at Mt Stirling may hold the market’s attention for some time yet.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
