ABx Group (ASX:ABX) expects to update the Rubble Mound project’s resource in April 2024, after receiving more ‘high-grade’ rare earths results from the latest drill program.
Managing Director and Chief Executive Officer Mark Cooksey says the resource update will include Wind Break for the first time “but will still only cover a fraction of ABx’s northern Tasmanian rare earth exploration target area of over 100km-square”.
Once the remaining 100 assays have been received, ABx, which has a market capitalisation of $13.25 million, will go ahead with conducting the resource update.
ABx Director Ian Levy adds that the company has the experience and knowhow to find this unique Tasmanian type of rare earth resource, mainly in pine tree plantations and degraded scrubland.
“We’re aiming to develop a low-cost method of extracting the rare earths, and also improve the land. Sustainable production from Tasmania can ease the global shortage of these critically important rare earths and show the world that it can be done to a high standard.”
As Mining.com.au previously reported, ABx conducted a 97-hole drilling campaign which has continued to return ‘high-grade results, confirming it as worthy of further economic assessment.
The company reports the results expand the extent of rare earth mineralisation towards the Alluvial Flats zone that has some especially thick mineralisation.
Cooksey says: “Our exploration results at Rubble Mount are outstanding and expand the Rubble Mound high-grade zone more than expected. ABx’s distinctively high proportion of dysprosium and terbium with high extraction rates under relatively neutral conditions is rare.”
ABx’s rare earth mineralisation is ‘highly’ enriched in dysprosium and terbium, with Dy+Tb exceeding 4.5% of total rare earth oxides, which the considered to be the ‘highest’ proportion of Dy and Tb of any clay-hosted rare earth resource in Australia.
ABx Group is a high-tech Australian company focused on delivering materials for a cleaner future. The company is focused on ionic adsorption clay rare earths, hydrogen fluoride, aluminium fluoride, and bauxite.
Write to Aaliyah Rogan at Mining.com.au
Images: ABx Group
