Resource Base (ASX:RBX) reports recent exploration activities at its 100% owned Mitre Hill Project on the South Australian and Victorian state border has highlighted the consistency of the mineralisation.
The strategic metals explorer, which is targeting clay hosted REE and VHMS in Victoria and South Australia, notes that drilling also confirms the potential for broader occurrence at very shallow depths of clay hosted rare earth elements (REE).
The Mitre Hill Project is prospective for clay hosted REE within the southern margin of the Murray Basin.
The project consists of 4 granted tenements in Victoria, 1 granted tenement in South Australia and 22 applications in Victoria.
Addressing the drill program, Resource Base Executive Chairman and CEO Shannon Green commented: “The success of this drilling program has highlighted the consistency of the mineralisation and confirms the potential for broader occurrence at very shallow depths of clay hosted REE across the Mitre Hill Project tenements, consistent with the company’s geological hypothesis.
“The success of this drilling program has highlighted the consistency of the mineralisation”
Tenement EL007646 represents less than 1% of the total Mitre Hill Project landholding and as such this project as the potential to yield scale.
The landowners and stakeholders have been very supportive of the Company’s activities in the region and we look forward to continuing to build on these positive relationships as we continue to drill across the substantial project area.”
Results from 56 of the 125 air‐core holes drilled in the step out program on farmland within EL007646 have been received from the Bureau Veritas assay laboratory in Adelaide.
From the 56 holes currently assayed 53 holes intercepted REE mineralisation grade above 350ppm TREO or 95% of holes assayed to date intercepted REE mineralisation grade above 350ppm TREO with maximum intercept grade being 1,397ppm TREO.
The mineralisation is very shallow with an average depth to the upper boundary of the mineralisation only 5m and occurs in clayey sediments located proximal to the upper boundary of an underlying limestone unit which is known to be very widespread throughout the region.
The company reports that these results prove the consistency of mineralisation and gives the exploration team confidence in planning step out drilling from broadly spaced reconnaissance programs utilising easily accessible roadsides.
