OD6 Metals (ASX:OD6) has doubled the tonnage and increased the confidence of the resource for its Splinter Rock Rare Earth Project in Western Australia.
The updated resource now totals 682 million tonnes @ 1,338 parts per million total rare earths oxides (TREO) for 910 kilo-tonnes of contained TREO, compared to the 344 million tonnes @ 1,308ppm TREO defined in the maiden inferred resource in mid-July last year.
The resource, which uses a cut-off grade of 1,000ppm, also now includes a higher confidence indicated component of 119 million tonnes @ 1,632ppm TREO.
The high-value magnet rare earths oxides represent around 23% of the TREO grade, for about 205 kilo-tonnes of contained magnet rare earth oxides.
Managing Director Brett Hazelden says the latest mineral resource estimate (MRE) sets OD6 apart from other clay hosted rare earth projects in Australia, and highlights Splinter Rock as “one of the largest and highest-grade projects globally”.
“The MRE has significant further upside based on the identified clay basins that remain open in multiple directions or have yet to be drill tested,” he says.
“It is worth pointing out that if a lower cut of grade of 600ppm was utilised, the tonnage grade curve shows a mineralised tonnage of 1.6 billion tonnes at 1,014 ppm TREO. This is a truly massive resource that puts Western Australia and Australia on the worldwide REE map.”
Hazelden says the Inside Prospect, which hosts the indicated resources, will be the main focus for a planned Scoping Study due for completion by the end of this year.
“The metallurgical recoveries of ~60%, along with an anticipated low stripping ratio, plus low acid consumptions, no private royalties, access to green-energy generation potential, proximity to port and and strategic location away from farm land, sets the project apart from so many of clay hosted deposits around the world,” he says.
Earlier in May, OD6 reported that metallurgical testing on Splinter Rock samples can recover up to 90% magnet rare earths – including neodymium, praseodymium, dysprosium and terbium – from multiple prospects.
The Splinter Rock Project comprises 2,579 km2 of granted exploration licences and is located about 150km northeast of Esperance in Western Australia.
Write to Angela East at Mining.com.au
Images: OD6 Metals
