Marquee Resources (ASX:MQR) has staked an additional 405km2 to strengthen its land position within the Redlings Rare Earth Element (REE) Project in Western Australia.
The company received assay results from a reverse circulation (RC) drilling program, which resulted in immediately staking the additional ground.
Executive Chairman Charles Thomas says the company decided to expand its footprint in the region following recent conversations with experts in the industry.
“The next phase of exploration will be very exciting as we use our knowledge and understanding to unlock the project’s full potential and we plan to be able to delineate a mineral resource post our next phase of drilling at Redlings.”
Marquee, which has a market capitalisation of $5.37 million, reports hole MQRC170 intercepted 14m @ 980 parts per million total rare earth oxide from surface.
The company says the latest results from recent and historical work suggest the potential for multiple zones of shallow mineralisation.
Four holes were drilled for 1,304m at the Redlings project, targeting dense pipe-like bodies that are interpreted to represent carbonatite intrusions, extending to “significant” depths.
The Redlings project lies 40km west of Leonora and 77km north of Menzies in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Marquee Resources
