Codrus reveals key Karloning REE targets

Codrus Minerals (ASX:CDR) has revealed key targets for zones that warrant follow-up drilling at its Karloning Rare Earth Element Project in Western Australia. 

Upon completing an extensive electromagnetic (EM) survey in January, 58km of Loupe EM data was collected across Karloning and processed, which delivered multiple target horizons to test for areas of thicker clay development, as well as generating drill targets. 

Managing Director Shannan Bamforth says the data has vindicated the decision to increase the exploration footprint at Karloning. 

“Initial interpretation of the data indicated multiple areas where there is potential for high-grade mineralisation. The data will help to refine drill targeting, reduce the overall amount of drilling we need to do, and focus our efforts on areas.”

A low-cost aircore drilling program is being planned to begin in the coming weeks. 

Drilling will target the horizons, and it is expected that this will support Codrus to ‘substantially’ expand the scale and potential of what is emerging as a ‘significant’ new clay-hosted REE discovery. 

The company collected 10.5km of data over areas that had been previously drilled and demonstrated a ‘strong’ correlation of clay development to a conductive response in the geophysics. 

Codrus reports the calibration data collected had previously returned ‘excellent’ drill results including hole KGRC008 with 24m @ 1,503 parts per million (ppm) total rare earth and yttrium oxide (TREYO) from 8m, including 12m @ 2,081ppm TREYO from 8m. 

Previous drilling at Karloning intersected mineralisation in both clays and saprock, including a standout intercept of 29m at 5,915ppm TREYO from 12m including 4m grading 12,366pmm (1.2%) TREYO from 24m in drill-hole KGAC054.

Further, 47.5km of data was collected over tenement E70/5630 which comprises the company’s expanded tenement holding at Karloning. 

The company is actively engaged with stakeholders in the district and has land access agreements in place over all current target areas where it operates. 

Codrus Minerals is a rare earths-focused explorer that has assets in Australia and the US. 

As of 31 December 2023, the company had $1.601 million cash and cash equivalents at hand, according to its latest quarterly report. 

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Images: Codrus Minerals
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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.