Australian Critical Minerals (ASX:ACM) is mapping out more reverse circulation (RC) drilling at its Rankin Dome Rare Earth Project in Western Australia.
The critical minerals-focused explorer says drilling aims to extend the current RC drill coverage to the north and south as to test the total rare earth oxide (TREO) delineated by the auger sampling program.
The first assay results from a RC drilling program returned thick continuous ‘high-grade’ TREO and importantly, the ‘significant’ TREO intercepts comprised between 20% and 26% magnetic rare earth oxides (MREO).
Drilling consisted of 6 holes for 864m over areas uncovered by Kula Gold (ASX:KGD) as having anomalous rare earth geochemistry in shallow auger samples that appeared to be coincident with aeromagnetic anomalies.
Australian Critical Minerals also recently completed a 254-hole high-definition auger sampling program over 2.5km-square which clearly delineated a ‘substantial’ rare earth anomaly.
The auger anomaly is based on values above 500 parts per million (ppm) TREO and a peak value of 1,297 TREO was returned.
Further, 132 samples returned greater than 300ppm TREO.
The auger sampling program aimed to provide further geochemical definition and on the depth of the saprolite profile.
Australian Critical Minerals Managing Director Dean de Largie says these latest drilling results confirm Rankin Dome’s prospectivity and the auger sampling brought ‘great’ clarity to the northwest sector.
“The substantial consistent strike lengths of highly anomalous near surface geochemistry in the auger area and consistent anomalous grades returned from the RC drilling is a significant result over a broad area and validates the approach taken by the company.”
The Rankin Dome Project consists of 3 exploration licences in the Youanmi Terrane. Australian Critical Minerals has an agreement with Kula Gold to earn a 51% interest in the project.
The company’s key assets include the Cooletha Lithium and Rankin Dome projects.
As of 30 September 2023, the company had $3.734 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Australian Critical Minerals