Mount Ridley Mines (ASX:MRD) has reported re-assay results the company says confirm ‘high-grade’ scandium mineralisation extends beyond the current Block 2 resource average grade in all directions.
The company’s phase one scandium re-assay program returned broad, near-surface intercepts above the current Block 2 mineral resource estimate (MRE) average grade of 86.9 parts per million (ppm) scandium oxide (Sc₂O₃). Notable results include 19m @ 127.68ppm Sc₂O₃ from 20m in drill hole MRDD034 and 24m @ 114.54ppm Sc₂O₃ from 24m in drill hole MRAC0943, with the hole ending in mineralisation.
Additional intersections include 12m @ 110.05ppm Sc₂O₃ from 22m in hole MRAC0942, 19m @ 114.25ppm Sc₂O₃ from 33m in hole MRAC1030, and 12m @ 105.72ppm Sc₂O₃ from 24m in hole MRDD033. The company says the holes ending in mineralisation indicate the system remains open.
Managing Director Allister Caird says the Block 2 results complement the Block 1 results reported on 23 June 2026.
“Following our Block 1 re-assay results reported on 23 June 2026, this next tranche of phase one work has turned our focus to the Block 2 resource. Results confirm scandium mineralisation extends beyond the current resource boundary in multiple directions, with intercepts including 19m at 127.68ppm Sc₂O₃ and 24m @ 114.54ppm Sc₂O₃, both well above the existing 86.90ppm Sc₂O₃ resource average,” Caird says.
“Together with the Block 1 results, this gives us a full picture of the scandium system across Grass Patch, generated entirely from the re-assay of historical drill material rather than new drilling, a low-cost pathway to materially expand a resource that already ranks among the largest scandium discoveries reported globally.”
Mount Ridley says the re-assay results indicate potential to expand the Block 2 MRE beyond its current boundaries. ‘High-grade’ scandium mineralisation extends along the northern, southern, eastern and western margins of the existing resource, which the company says indicates the system remains open.
Southern and eastern extensions returned several intercepts exceeding 100ppm Sc₂O₃ over broad widths. The company says the results suggest the ‘higher-grade’ core of the mineralised system continues beyond existing resource boundaries.
The scandium mineralisation occurs within an established critical minerals district that hosts rare earth element (REE) and gallium (Ga) resources. Block 2 contains a REE resource of 87.18 million tonnes (Mt) @ 947ppm total rare earth oxides and a Ga resource of 372.3Mt @ 40.40ppm Ga oxide.
Mount Ridley says it will incorporate these results into an updated MRE targeting an upgrade of the current JORC 2012 inferred mineral resource classification. The company plans to collect a further 2,000 historical pulps this week as part of phase two of the re-assay program.
Scandium is recognised as a critical mineral by Australia, Canada, the US, and the EU.
Write to France Pinzon at Mining.com.au
Images: Mount Ridley Mines
