- Marquee Resources (MQR) is set to restart exploration at the Redlings Rare Earth Element Project in Western Australia
- After recently completing reverse circulation drilling at the project, Marquee decided to fast-track its regional geochemical sampling program
- This sampling program aims to outline additional rare-earth element bearing carbonate dykes with specific focus on potential laterite mineralisation
- Marquee ends the day in the grey with shares trading at 7.4 cents
Marquee Resources (MQR) is set to restart exploration at the Redlings Rare Earth Element (REE) Project in Western Australia.
The 108-square kilometre project lies 40 kilometres west of Leonora and 77 kilometres north of Menzies.
Previous work has intersected up to 7.8 per cent total rare earth oxides (TREO) and recent drilling has intersected a 25 metre-wide structural zone of fenitic alteration.
After recently completing reverse circulation (RC) drilling at the project, Marquee decided to fast-track its regional geochemical sampling program.
This sampling program is aiming to outline additional rare-earth element (REE) bearing carbonate dykes.
Marquee’s specific focus will be on potential laterite REE mineralisation, similar to that seen at Lynas Rare Earths’ (LYC) Mount Weld and Hastings Technology Metals’ (HAS) Yangibana deposits.
Executive Chairman Charles Thomas commented on the exploration program.
“After announcing the exploration plans at the West Spargoville project earlier this week, I am pleased to say that we will now have two exciting exploration campaigns going on within Western Australia,” Mr Thomas said.
“The acceleration of exploration campaigns is aimed at positioning the company to give our shareholders the best future exposure to this electrification boom.”
Marquee has ended the day in the grey with shares trading at 7.4 cents in an $11.07 million market cap.