ABx Group (ASX:ABX) is testing extensions to its T8 rare earth element (REE) discovery with a new drilling campaign at the Tasmanian asset.
The company secured approval to drill 39 holes last month, as reported by Mining.com.au.
CEO Dr Mark Cooksey says T8’s mineralisation hosts an “exceptionally high-grade” of dysprosium and terbium which is unique for Australia.
“ABx is investigating a low cost, low impact method of rapidly developing this rare earth province,” Cooksey says.
“China’s restriction on exports of critical heavy rare earths, especially dysprosium and terbium, sends a clear message to the global market and ABx is in a unique position with its dysprosium and terbium-rich shallow clay-hosted rare earth deposit in a stable jurisdiction.
“This is recognised by the industry, for example our memorandum of understanding to supply rare earth feedstock to Ucore, which is planning a strategic metals complex in Louisiana with the support of the US Government.”
ABx says its Tasmanian rare earth projects are suited to early low cost production as they are shallow, ionic absorption clay types of rare earth resources enriched in the most critical ones dysprosium (Dy) and terbium (Tb).
The company has established relationships with planned processing operations in the US, such as Ucore Rare Metals (TSX-V:UCU).
Dysprosium and terbium play key roles in modern technology, vital for sectors such as modern cars, phones, military technologies, and offshore wind turbines.
ABx Group is a critical materials-focused company that aims to supply light and heavy weight rare earths from Tasmania into western supply chains.
Write to Maddison Elliott at Mining.com.au
Images: ABx Group
