Australian Rare Earths (ASX:AR3) - Technical Director, Rick Pobjoy (left)
Technical Director, Rick Pobjoy (left)
Source: Rick Pobjoy/LinkedIn
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  • Drilling at Australian Rare Earths’ (AR3) Koppamurra ‘ionic clay’ project in South Australia and Victoria confirms significant regional prospectivity
  • The completed exploration program drilled 899 drillholes totalling 9921 metres
  • The drilling confirmed clay-hosted rare earth mineralisation at least 40 kilometres north of the existing mineral resource area and identified extended prospectivity to the Red Tail and Yellow Tail inferred resources
  • A new exploration program of 10,000 metres of drilling is planned to commence in February
  • Shares in Australian Rare Earth were down 8.93 per cent on Wednesday, closing at $1.02 each

Drilling at Australian Rare Earths’ (AR3) flagship Koppamurra ‘ionic clay’ project in South Australia and Victoria has confirmed significant regional prospectivity.

The completed exploration program drilled 899 drillholes, totalling 9921 metres, and successfully achieved two key objectives.

First, the regional exploration drilling demonstrated the prospectivity of the Koppamurra region by confirming clay-hosted rare earth mineralisation at least 40 kilometres north of the existing mineral resource area.

Results from 174 drillholes representing a significant portion of the regional prospectivity drilling conducted on Francis region, confirmed shallow rare earth mineralised clayey sediments across a wide region of the Koppamurra Project area.

At a cut-off grade of 350 parts per million (ppm) Total Rare Earth Oxide (TREO), 124 or 71 per cent of the drill holes generated significant intersections, averaging 663 ppm TREO.

At a 500 ppm TREO cut-off grade, 109 or 63 per cent of the drill holes generated significant intersections, averaging 800 ppm TREO

The second objective achieved was the identification of extended prospectivity to the Red Tail and Yellow Tail inferred resources.

Managing Director Don Hyma said the significant mineralisation observed north of the Red Tail and Yellow Tail resource indicates the potential scale of Koppamurra.

“With a growing demand for magnet rare earth elements and the upwards trend in pricing, Australian Rare Earths will continue working to create a sustainable business that participates in this forward-looking industry,” he said.

AR3’s Technical Director Rick Pobjoy, meanwhile, said the results indicate that a much larger resource area can be assessed as part of the upgrade to the existing resource estimate.

“A new exploration program of 10,000 metres of drilling is planned to commence in February which will leverage the tremendous support of the landowners we are working with and is planned to allow for a significant addition to the MRE already defined at Red Tail and Yellow Tail,” Mr Pobjoy said.

The company said it is confident that the inclusion of the additional exploration work will ultimately provide greater potential value to shareholders.

Shares in Australian Rare Earth were down 8.93 per cent on Wednesday, closing at $1.02 each.

AR3 by the numbers
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