RareX (ASX:REE) reports ‘significant’ new results received from diamond and reverse circulation (RC) drilling at the Cummins Range Rare Earths and Phosphate Project in the Kimberly region of Western Australia.
The first assays for a complete diamond drillhole have been received for CDX0020, which returned an ‘impressive’ intercept of 384.4m @ 4% P2O5 and 0.3% Total Rare Earth Oxide (TREO), and a ‘high-grade’ rare earths zone of 11.6m @ 1.9% TREO.
Assays have also been received for 6 RC drillholes which returned wide and ‘high-grade’ phosphate and rare earth intercepts including 153m @ 11% P2O5 and 0.4% TREO from hole CDX0081.
Multiple broad intercepts over 100m have the potential to ‘significantly’ expand both the rare earths and phosphate components of the Cummins Range Project deposits and add to the current JORC 2012 Indicated and Inferred Mineral Resource Estimate (at a 0.5% TREO cut-off) of 18.8 million tonnes at 1.15% TREO and 10% P2O5.
These ‘outstanding’ results add further momentum to the Cummins Range Project following the delivery of the recent positive Scoping Study, and are expected to further enhance project economics.
RareX Managing Director Jeremy Robinson said the initial assay results from deeper drilling had further increased the scale of the Cummins Range deposit and confirmed the presence of a very large mineral system.
“Our deeper drilling has shown that carbonatite pipes are very large mineralising systems capable of hosting millions of tonnes of rare earth oxides and top-quality rock phosphate.
We look forward to releasing further results from diamond holes to the south-east, closer to the centre of the system.
“The phosphate mineralisation on the Phos Dyke is shaping up to be a very large body of phoscorite”
The phosphate mineralisation on the Phos Dyke is shaping up to be a very large body of phoscorite, with the rare earths-rich carbonatite veins reported in this release and in our last announcement proving to be an added bonus.”
CDX0020 intersected numerous phosphate and rare earths zones including 384.4m @ 4% P2O5 and 0.3% TREO. The wide zone is centred around the 80m wide Rare Dyke.
The Rare Dyke and hanging wall and footwall positions have abundant coarse disseminations of apatite with 26 monazite/bastnasite mineralised zones ranging from 0.3m to 11.6m. These zones accumulate to a total of 43m at 1.7% TREO.
The strongest mineralised zone of 11.6m at 1.9% TREO and 7% P2O5 is located on the hanging wall contact of the Rare Dyke.
Multiple rare earth zones above are hosted in carbonatite bands proximal to the Rare Dyke.
Assays for the first 3 drillholes at the Phos Dyke (CRX0074, CRX0075, and CRX0081) have been received with all three generating intercepts of more than 100m of high-grade phosphate.
The most mineralised was CRX0081, which intersected 153m @ 11% P2O5 and 0.4% TREO, including 20m at 25% P2O5 and 0.82% TREO and 10m at 31% P2O5 and 1% TREO.
An additional rare earths domain is also emerging to the north of the Pho Dyke, with the widest intersections being 46m at 1.1% TREO including 1m @ 8.2% TREO in hole CRX0075.
A ‘higher-grade’ zone of 7m @ 2.5% TREO was also intersected in the upper 30m of hole CRX0074.
Assay results are pending for surrounding drillholes to support this new development.
Assays have been received for the three RC drillholes (CRX0071, CRX0072 and CRX0073) drilled in the north-western extent of the Rare Dyke, testing along strike hole of CDX0013, which intersected 26m @ 2.3% and 13% P2O5.
Numerous mineralised zones were intersected in hole CRX0071, including 7m @ 1.9% TREO and 6% P2O5, 29m @ 0.9% TREO including 5m @ 2% and 4m @ 2% TREO.
All of these intersections are located within a larger phosphate intersection of 98m @ 8% P2O5 and 0.7% TREO.
CRX0072 was drilled in front of CRX0071 and intersected 76m at 5% P2O5 and 0.5% TREO, with rare earth intercepts of 4m @ 1.4% TREO and 14m @ 0.9% TREO.
CRX0073 had narrower rare earths mineralisation and weaker phosphate.
The weaker mineralisation likely marks the north-western edge of the Rare Dyke.
RareX is an ASX-listed specialist company focused on developing Rare Earth deposits in Australia, including Cummins Range Rare Earths Project in the East Kimberly region of Western Australia.
The Cummins Range deposit is a weathered carbonatite host to an Inferred and Indicated Resource of 18.9Mt at 1.15% TREO for a contained 147Mkg of REO.
The known Resource occupies a small portion of the Cummins Range Intrusive Complex that is approximately 2km-square and this offers ‘significant’ potential to expand the known Resource.
Images: RareX Limited
