iTech identifies rare earth potential at Eyre Peninsula prospect

iTech Minerals (ASX: ITM) reports that it has identified rare earth mineralisation at its Salt Creek Prospect on South Australia’s Eyre Peninsula.

The discovery, in clay-rich weathering profile, comes from re-analysis of historical drilling carried out in 2011 by Archer Materials, who were carrying-out exploration work in search of manganese.

Key results include:

• Hole SRC11-002: 30 m @ 511 ppm TREO from 3m
  • including 2m @ 1306 ppm TREO from 4m
  • and 3m @ 1327 ppm TREO from 30m
• Hole SRC11-003: 13m @ 1047 ppm TREO from 0m
• Hole SRC11-004: 6m @ 1507 ppm TREO from 16m
  • and 4m @ 1307 ppm TREO from 30m
• Hole SRC11-006: 12m @ 1698 ppm TREO from 0m
  • including 4m @ 3093 ppm TREO from 0m
  • and 5m @ 1439 ppm TREO from 8m
• Hole SRC11-012: 32m @ 891 ppm TREO from 6m
  • including 16m @ 1137 ppm TREO from 10m
  • and 2m @ 1079 ppm TREO from 35m
• Hole SRC11-014: 3m @ 1015 ppm TREO from 0m
• Hole SRC11-015: 8m @ 790 ppm TREO from 4m
  • including 4m @ 1157 ppm TREO from 8m
• Hole SRC11-016: 23m @ 1065 ppm TREO from 12m
  • including 4m @ 3019 ppm TREO from 20m
  • and 4m @ 1090ppm TREO from 28m

Importantly, the rare earth mineralisation displays ‘significant’ levels of neodymium and praesidium (~23% Nd+Pr), which are critical elements in the production of permanent magnets for electric vehicles and wind turbines. In addition, premium-priced heavy rare earth elements were also identified (~39% HREO).

“With over 1,400km2 of ground in the region, and a huge amount of historical data from Archer Materials to guide us, we are in a very strong position to capitalise on this potentiaL”

Addressing the news, iTech Minerals Managing Director Mike Schwarz said: “The Salt Creek Prospect confirms the prospectivity of the Eyre Peninsula for REE. With over 1,400km2 of ground in the region, and a huge amount of historical data from Archer Materials to guide us, we are in a very strong position to capitalise on this potential.”

iTech reports that the results come from 19 holes, of which 15 displayed ‘high levels’ of rare earth mineralisation consistent with ion adsorption clay style mineralisation.

The mineralisation was identified in thick intervals of up to 32m of rare-earth-rich clay-dominant material, across an area extending 1km north-south.

These results are guiding iTech with planning of upcoming drilling across its Eyre Peninsula Kaolin and rare earth prospects.

Additionally, samples from the original Salt Creek drilling program have been recovered and are being sent for laboratory analysis to identify expected recovery rates, and to determine if the ionic adsorption plays a significant role in the rare earth mineralisation style.