iTech Minerals (ASX:ITM) - Managing Director, Michael Schwarz
Managing Director, Michael Schwarz
Source: Michael Schwarz/LinkedIn
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  • iTech Minerals (ITM) intersects thick, high-grade rare earth element (REE) mineralisation at the Caralue Bluff prospect in South Australia
  • In April, a 478-hole drilling program was completed over four prospects to test the potential for regolith-hosted REEs and high purity kaolin mineralisation
  • Up to 2050 parts per million total rare earth oxide was intersected and the REE mineralisation at Caralue Bluff now spans an area of 10 by nine kilometres
  • Leaching is currently underway on 60 samples with results expected in the next four weeks and once results have been received, additional samples will be subject to leaching
  • iTech has ended the day up 17.2 per cent to close at 34 cents

iTech Minerals (ITM) has intersected thick, high-grade rare earth element (REE) mineralisation at the Caralue Bluff prospect in South Australia.

In April, a 478-hole drilling program was completed over four prospects to test the potential for regolith-hosted REEs and high purity kaolin mineralisation.

New results include 18 metres at 2050 parts per million (ppm) total rare earth oxide (TREO) from four metres, four metres at 1810 ppm TREO from 18 metres and 32 metres at 1223 ppm TREO from four metres.

The REE mineralisation at Caralue Bluff now spans an area of 10 by nine kilometres with the more significant results encountered in the southeast of the prospect.

Of the 260 holes drilled at Caralue Bluff, results have been received for 130 with results for the remaining holes expected before the end of the month.

“This batch of drill results show a significant extension of the REE mineralised clays in the southeast of the Caralue Bluff prospect, with additional infill results suggesting that the prospect is consistently mineralised over a large area.”

Leaching testwork is currently underway on 60 samples with results expected in the next four weeks and once the results have been received, additional samples will be subject to leaching testwork.

iTech was up 17.2 per cent on the market with shares trading at 34 cents at market close.

ITM by the numbers
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