Market Herald logo

Subscribe

Be the first with the news that moves the market
  • iTech Minerals (ITM) expands rare earth element (REE) mineralisation at the Caralue Bluff and Ethiopia prospects in South Australia
  • A recently completed drilling program tested the potential for regolith-hosted ion adsorption clay (IAC) REEs and high-purity kaolin mineralisation across four prospects
  • Both prospects intersected thick, high-grade intervals of REE mineralisation with mineralisation at Caralue Bluff now covering 10 kilometres by six kilometres
  • REE mineralisation at the Ethiopia prospect now extends for 1.7 by 1.3 kilometres and pending results have potential to further expand the mineralised zone
  • Company shares are down 3.23 per cent to trade at 30 cents at 12:18 pm AEST

iTech Minerals (ITM) has announced more drill results from the Caralue Bluff and Ethiopia prospects in South Australia.

The company recently completed a 478-hole program across the Burtons, Bartels, Ethiopia and Caralue Bluff prospects. Drilling aimed to test the potential for regolith-hosted ion adsorption clay (IAC) rare earth elements (REEs) and high-purity kaolin mineralisation.

iTech geologists identified significant REEs in the kaolin-rich intervals at the Ethiopia, Burtons and Bartels prospects and suspected that Caralue Bluff might also be prospective for regolith-hosted REE mineralisation.

Initial drill results received in mid-April returned thick intervals of elevated REE mineralisation over eight kilometres and latest assays have now extended this to an area of approximately 10 kilometres by six kilometres.

Results from Caralue Bluff include 30 metres at 1783 parts per million (ppm) total rare earth oxides (TREO) from three metres, 23 metres at 1058 ppm TREO from seven metres and 20 metres at 936 ppm TREO from eight metres.

Highlighted results from Ethiopia include five metres at 1315 ppm TREO from three metres (-45 µm) and 16 metres at 758 ppm TREO from two metres (-45 µm).

Thirteen of the 19 holes reported today from the Ethiopia prospect have been submitted for kaolin testwork, which involves separating the kaolin-rich portion of the sample and testing its technical characteristics for a variety of industrial uses.

The other six holes won’t undergo kaolin testwork for kaolin but have been submitted for REE analysis and will be reported separately.

iTech has completed 115 holes over a five-kilometre by three-kilometre area at the Ethiopia prospect and current results suggest that mineralisation extends over at least 1.7 kilometres by 1.3 kilometres. However, pending results may expand mineralisation further.

Company shares were down 3.23 per cent to trade at 30 cents at 12:18 pm AEST.

ITM by the numbers
More From The Market Herald
Ballymore Resources (ASX:BMR) - Non Executive Chairman, Nick Jorss

" Ballymore Resources (ASX:BMR) intersects significant assays at Seventy Mile Mount

Ballymore Resources (ASX:BMR) has intersected significant assays in its initial drilling program at the Seventy Mile…

" Ballymore Resources (ASX:BMR) begins stage one drilling at Ruddygore

Ballymore Resources (ASX:BMR) has begun stage one drilling at the Ruddygore Prospect in North Queensland.

" Ballymore Resources (ASX:BMR) confirms displacement of Duffer lode at Dittmer mine, QLD

Ballymore Resources (ASX:BMR) has confirmed through diamond drilling that the historic Duffer lode at its Dittmer…
The Market Herald Video

" Bannerman Resources (ASX:BMN) raises $12M for Etango-8

Bannerman Resources (ASX:BMN) has successfully tapped investors for an extra $12 million in funding for its…