ABx increases rare earths resource by 70%

ABx Group (ASX:ABX) has increased its rare earths resource by 70% at the Deep Leads-Rubble Mound and Wind Break deposits in northern Tasmania. 

The upgraded resource contains 89 million tonnes averaging 844 parts per million total rare earth oxides (TREO) with a cut-off grade of US$30 per tonne of contained rare earth oxide value. 

“Because ABx is beginning economic studies, we have introduced a cut-off grade based on the gross value of contained rare earth oxides that allows us to easily vary the in-situ gross dollar value of resource estimates in the higher grade zones,” Managing Director Mark Cooksey says.

ABx, which has a market capitalisation of $15.25 million, reports the resource has the highest proportion of dysprosium and terbium — averaging 4.3% TREO — of any clay-hosted rare earths resource in Australia. 

Cooksey says the 70% increase derives from 400 new drillholes and expansion of the mineralised outline by the company’s proprietary exploration technology. 

“This campaign has enhanced the higher grade zones that are our top candidates for production studies. 

ABx’s resource is exceptionally enriched in permanent magnet rare earths, especially dysprosium and terbium, which have the highest global supply risk and are almost exclusively produced from ionic adsorption clay rare earth deposits in China and Myanmar. 

ABx is focused on creating a rare earths project that can address looming supply shortages of these critical minerals.”

The resource model is based on 3,843 rare earths assays from 895 drillholes and covers 29% of the identified mineralised outline, including the Wind Break deposit for the first time. 

Resource modelling has highlighted four zones that require follow-up for economic and metallurgical assessments. 

The company says the exploration potential is expanding as exploration technology is being refined. 

ABx Group’s two main focus areas are rare earths and hydrogen fluoride/aluminium fluoride via its 83% owned subsidiary ALCORE.

Write to Aaliyah Rogan at Mining.com.au  

Images: ABx Group 
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.