iTech Minerals (ASX:ITM) - Managing Director Michael Schwarz
Managing Director Michael Schwarz
Source: iTech Minerals
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  • iTech Minerals (ITM) sees more rare earth potential at the Ethiopia prospect in South Australia
  • The company received a second batch of results, which includes results from beneficiated and unbeneficiated samples from historical drill holes
  • iTech says the beneficiated results show an increase in thickness and the extent of REE mineralisation
  • The unbeneficiated results show an enrichment of neodymium and praseodymium of around 24 per cent and confirm iTech’s belief of thick, high-grade REEs
  • Company shares have been trading steady at 23 cents

iTech Minerals (ITM) has received more results from resampling of historical data at the Ethiopia prospect on the Eyre Peninsula in South Australia.

The company reviewed historical drilling data from a 41-hole aircore program and sub-sampled an initial 10 holes to assess their potential for high purity kaolin and ion adsorption clay (IAC) rare earth element (REE) mineralisation. After successful results, the company sampled the other 31 holes.

This second batch includes results from beneficiated samples that concentrate the clay fraction and unbeneficiated samples which come straight from the ground, with no processing.

Beneficiated results include 22 metres at 904 parts per million (ppm) total rare earth oxides (TREO) from two metres including 10 metres at 1113ppm TREO from 14 metres, and 18 metres at 839ppm TREO from two metres.

According to iTech, these results show an increase in thickness and extent of REE mineralisation across the Ethiopia prospect.

Unbeneficiated results from ETH-029 include 32 metres at 1038 ppm TREO including eight metres at 1687ppm TREO from eight metres.

These results reportedly suggest ongoing improvements to thickness and grade. In particular, the initial results from ETH-029, which showed enrichment of neodymium and praseodymium of around 24 per cent, have confirmed iTech’s belief of thick, high-grade REEs at the end of a line of drilling.

Managing Director Mike Schwarz commented on the results.

“What is particularly significant is that these results not only confirm the anticipated higher rare earth grades but the location of these holes also suggests that the potential IAC style of mineralisation is open in several directions,” he said.

“iTech is really looking forward to testing these areas in our upcoming drilling program.”

iTech is now undertaking the kaolin beneficiation process on selected samples from the remaining 13 drill holes.

Company shares were trading steady at 23 cents at 1:28 pm AEDT.

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