West Cobar Metals (ASX:WC1) has received ‘outstanding’ assay results from its latest bout of drilling at the Salazar Clay Rare Earth Element (REE) Project in Western Australia.
The company says the results have increased its confidence in and supported extensions to the north and south of the Newmont deposit in the project area.
As such, West Cobar will now focus on upgrading the mineral resource for the Newmont deposit. AMC Consultants is set to engage with the company to upgrade the mineral resource, which is expected in late June 2023.
West Cobar reports the following results, which underpin a planned revised mineral resource: drillhole SZA070 with 34m @ 2,337 parts per million (ppm) total rare earths oxide (TREO) from 7m; and drillhole SZA077 with 20m @ 1,449ppm TREO from 9m.
Commenting on the results and the company’s ongoing activities, West Cobar Metals Chairman Rob Klug says: “The excellent high-grade near-surface REE results received to date confirm the presence of high TREO grades at Newmont and, in particular, high heavy rare earth and magnet rare earth oxide content, making the Newmont deposit stand out from its peers.
“The excellent high-grade near-surface REE results received to date confirm the presence of high TREO grades at Newmont”
The full complement of phase one assays, together with a revised geological model, confirm high-grade, continuous near-surface rare earth mineralisation at the Newmont deposit. The robust drill results also confirm the potential of the O’Connor prospect for major additional tonnages.
Now that all assay results have been received, our focus will be to integrate the recent drill data to produce an updated Inferred Mineral Resource for the Newmont deposit. In parallel, the company will progress its metallurgical and beneficiation testwork to provide data to move the Newmont deposit towards development.”
The phase 1 aircore program consisted of 283 holes for 9,342m and was designed to extend and infill the existing Inferred Mineral Resource of 43.5 million tonnes @ 1,192 parts per million (ppm) total rare earths oxide (TREO) at the Newmont deposit.
The Salazar REE Project is located about 120km northeast of the Port of Esperance in Western Australia and comprises tenements E63/1469, E63/1496, and E69/3982, which lie on non-agricultural undeveloped state land.
West Cobar Metals is an ASX-listed minerals exploration and development company focused on exploring for rare earths and battery metals. The company’s portfolio of assets includes the Salazar REE, Nevada Lithium, Hermit Hill Lithium, and Cobar West projects.
Write to Aaliyah Rogan at Mining.com.au
