ABx Group (ASX:ABX) reports it has begun a 70-hole drilling campaign targeting a 6.5km mineralised corridor between Deep Leads and Rubble Mound Rare Earth (REE) discoveries in northern Tasmania.
Mobilisation of the reverse circulation (RC) drill rig to site was completed on 10 October, and the company estimates the drilling campaign will take 6 weeks to complete, with assay results expected to be received in batches from early November into early 2023.
This third drilling campaign consists of 70 holes of aircore RC drilling and push-tube coring totaling 800m, and it is designed to follow up on previous campaigns of first-pass exploratory drilling that discovered a continuation of the REE mineralisation for the entire distance between Deep Leads and Rubble Mound REE discoveries.
That exploratory drilling confirmed a 6.5km contiguous mineralised corridor which remains open for possible extension to the east, north and south, and the new drilling program aims to test.
The previous drilling campaign results highlighted clay-hosted REE that occurs within a shallow channel structure that increased the prospective size by 27% to 5.1km, and demonstrated the potential for the mineralised zone to deliver thick intersections.
Assay results and ABx’s knowledge of this REE mineralisation have also seen the project expand significantly, increasing the combined prospective area to be drill tested to more than 30km-square.
Follow-up drilling will focus on widening the mineralised corridor by drilling holes that step out from the known northwest trending channel.
The drilling program will also test in-fill targets between Deep Leads and Rubble Mound, as well as inspect a new style of REE mineralisation encountered in river flats to the south of the project.
In addition, ABx anticipates finalising a maiden JORC Resource Estimation based on drilling results to date in the next few weeks with results from the upcoming drilling campaign to feed into an expanding resource estimate anticipated in Q1 2023.
ABx Group Managing Director Mark Cooksey said the new drilling campaign has all the qualities of a major expansion.
“ABx is highly excited to get the drill bit turning again to further test this mineralised corridor and increase the potential for further mineralisation by extending the channel.
“This third campaign has all the hallmarks of a major expansion of the mineralised area with results anticipated to continue early into the new year, and I look forward to keeping the market abreast of our progress”
This third campaign has all the hallmarks of a major expansion of the mineralised area with results anticipated to continue early into the new year, and I look forward to keeping the market abreast of our progress.”
ABx Group is an Australian minerals company developing two ‘high-tech’ businesses, the first is the discovery of REE within the company’s Tasmanian bauxite projects, and the second is ‘high-priced’ aluminium fluoride for aluminium smelters and lithium-ion batteries.
The company plans to continue ‘enhancing’ the value of its bauxite resources for cement, aluminium and fertilisers.
In 2021, ABx confirmed the discovery of ‘potentially’ ore-gade REE at its Deloraine Bauxite Project in northern Tasmania, which made the discovery ‘ideal’ as it is rich in super magnet REEs, especially neodymium which is the main component of super magnets that are essential for electric vehicles, wind turbines, modern smartphones and military devices.
It is also suited to water soluble ionic clay type of REE which can be developed ‘quickly’ at ‘low cost’, and its ‘shallow’ depth typically 6m to 16m from surface also make it favourable to ABx.
ABx also notes it is free of the radioactive elements thorium, and uranium, making it processable in any country.
