RareX (ASX:REE) - Managing Director, Jeremy Robinson
Managing Director, Jeremy Robinson
Source: 121 Mining Investment Events
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  • Further infill and extensional drilling at RareX’s (REE) Cummins Range project in WA’s Kimberley region has returned high grades of niobium and rare earths
  • A 109-metre intercept contained “bonanza” grades, including 70 metres at 5.4 per cent total rare earth oxides and 0.64 per cent niobium from 54 metres
  • The new drilling confirms mineralisation to 130 metres below surface, significantly extending historical results by 60 metres
  • Coupled with the positive results released last week, Cummins Range seems to be exceeding expectations
  • The company is eagerly awaiting results from a further 38 reverse circulation holes to see just how far the high-grade resource extends
  • RareX is trading 7.41 per cent higher for 14.5 cents

Further infill and extensional drilling at RareX’s (REE) Cummins Range deposit has returned high-grade assays for niobium and rare earths.

Rare bonanza

The project in WA’s Kimberley region returned “bonanza” grades including a best intercept of 109 metres at 3.6 per cent total rare earth oxides (TREO) and 0.44 per cent niobium pentoxide (Nb2O5) from a depth of 24 metres.

The latest assays have been returned from two reverse circulation (RC) drill holes.

High-grade mineralisation now extends to 130 metres below surface, which is a significant extension to the historical intercepts which only went down to 70 metres.

The two new holes have confirmed an extension to the northwest-trending channel located. in previous drilling, further enhancing the potential size and grade of the resource.

While results from one hole peak at the lesser grade of 37 metres at 1.4 per cent TREO and 0.2 per cent Nb2O5, the mineralisation is still at least quite shallow, beginning just 21 metres below surface.

The second hole contains stunning grades across the 109-metre intercept, including 13 metres a 10.7 per cent TREO and 1.04 per cent Nb2O5 from 76 metres.

RareX Managing Director Jeremy Robinson says Cummins Range keeps exceeding expectations.

“We continue to be impressed by the consistency of this thick, high‐grade mineralisation within this north‐west channel within the resource,” he said.

“These impressive results provide strong support for the potential both to upgrade the resource and to define a high‐grade component within the broader resource.”

RareX Managing Director, Jeremy Robinson

“Understanding the controls on the high‐grade mineralisation in the weathered zone will also assist with targeting potential high‐grade primary mineralisation in follow‐up drilling to further expand the overall size of the resource,” he concluded.

Next steps

The extensional and infill drilling is seeking to expand the overall inferred mineral resource of 13 million tonnes at 1.13 per cent TREO with 22 per cent neodymium-praseodymium content.

Coupled with the positive results released last week, Cummins Range seems to be exceeding expectations.

The company is eagerly awaiting results from a further 38 RC holes to see just how far the high-grade resource extends.

RareX is trading 7.41 per cent higher for 14.5 cents at 10:11am AEDT.

REE by the numbers
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