ASX-listed minerals exploration company Traka Resources (ASX:TKL) reports the presence of ‘significant’ rare earth element (REE) mineralisation following auger geochemical sampling at its 100% owned Mt Cattlin Gold-Copper (Au-Cu) Project in Western Australia.
The results indicate that the intrusive complex, which is host to identified REE mineralisation, has the potential to include alkali-rich intrusive-like carbonatites, the most ‘significant’ hard-rock source of REE anomalism.
This belief is further supported by the previous recognition of fenite alteration, which is characteristically located on the margins of the carbonatites.
It is reported a deep diamond drilling (DD) program supported by EIS funding of about $220,000 is currently being planned to test several targets for Au-Cu potential within the multiphase intrusive complex, as well as assess the overlapping REE potential.
The auger geochemical sampling was conducted for the purposes of geochemical footprint modelling at the project.
As of 12noon AWST Traka Resources’ share price had increased by 40%.
Commenting on the results, Traka Resources’ Managing Director, Patrick Verbeek says: “This is a very exciting development that further upgrades the prospectivity of the Mt Cattlin project, indicating compelling potential for rare earth elements alongside the known gold-copper mineralisation.
The planned deep diamond drillholes will test the buried intrusive complex for both opportunities, with a program of aircore drilling also being considered to test for REE’s closer to surface within the regolith profile.
“This is a very exciting development that further upgrades the prospectivity of the Mt Cattlin project…”
What is most exciting is that we already have early evidence for underlying hard rock alkali intrusives – with fenite alteration observed in several drillholes – and a very favourable geological setting for REE mineralisation.”
The company also notes that several of the highlighted REE anomalous trends are partly aligned with dominant northeast trending structures and overlying buried intrusions.
In addition, aircore (AC) drilling is also planned to test for near-surface REE ionic clay potential within the project area.
Traka Resources is a minerals exploration company focused on unlocking the potential of its Mt Cattlin project in south-west WA. The project is situated within a proven mining district, located immediately north of the Mt Cattlin Lithium Mine, which is currently owned by speciality lithium chemicals company Allkem (ASX:AKE). Allkem, formerly Orocobre, gained ownership of the mine following a merger with Galaxy Resources on 25 August 2021.
The project is also situated in close proximity to the Ravensthorpe Nickel Mine and the Ravensthorpe Au Project, which is currently owned by minerals explorer Medallion Metals (ASX:MM8).
With results from the auger geochemical sampling now received, Traka Resources announces it remains focused on conducting its planned DD and AC campaigns in order to identify potential REE’s closer to surface within the regolith profile.
Images: Traka Resources Ltd
