Join our daily newsletter At The Bell to receive exclusive market insights
- Desert Metals (DM1) intersects up to 4376 parts per million (ppm) total rare earth oxides (TREO) at the Innouendy Project in Western Australia
- Samples have been received from a further 93 samples with assays confirming significant, thick and high-grade rare earth element (REE) mineralisation
- A 20,000-metre reverse circulation and aircore drilling program is now underway to test the extent of the mineralisation and follow-up previously identified nickel mineralisation
- DM1 has also received assays from five holes drilled at the Belele Copper Project which confirm that mineralisation intersected in hole BRC004 reaches a depth of more than 400 metres
- Shares in Desert Metals are up 9.09 per cent and were trading at 24 cents at 3:11 pm AEST
Desert Metals (DM1) has intersected up to 4376 parts per million (ppm) total rare earth oxides (TREO) at the Innouendy Project in Western Australia.
Samples have been received from a further 93 samples with assays confirming significant, thick and high-grade rare earth element (REE) mineralisation.
Significant results include 20 metres at 2139 ppm TREO from 16 metres including four metres at 4376 ppm TREO, and 12 metres at 1404 ppm TREO from eight metres including four metres at 2786 ppm TREO.
These intersections confirm the continuity of the mineralisation down-hole and between holes over a four-kilometre strike which remains open to the north, south and west.
A 20,000-metre reverse circulation (RC) and aircore drilling program is now underway to test the extent of the shallow clay-hosted REE mineralisation and follow-up previously identified nickel mineralisation where up to 1.76 per cent nickel was intersected.
The holes will be relatively close together to allow Desert Metals to work towards an inferred resource if consistent grades and widths are intercepted.
Desert Metals has also received assays from five RC holes drilled at the Belele Copper Project.
Assays confirm that mineralisation intersected in hole BRC004 reaches a depth of more than 400 metres.
A $180,000 grant has been received as part of the Western Australian state government Exploration Incentive Scheme to test the extent of the mineralisation at Belele.
Shares in Desert Metals were up 9.09 per cent and were trading at 24 cents at 3:11 pm AEST.
