- Voltaic Strategic (VSR) unearths one of the largest clay-hosted rare earth element (REE) intersections in Australia to date at its Neo prospect within the Paddy’s Well project in WA
- Assays from its first two drill holes confirmed the presence of a large REE-enriched clay system, with grades of up to 10,072 parts per million total rare earth oxides
- The mineralisation remains open at depth and along strike, with metallurgical testing still underway
- VSR plans to follow up on target areas with metallurgical testing and drilling, focusing on several carbonatite REE targets at Paddys Well
- VSR shares soar 28 per cent to 6.4 cents at 10:40 am AEST
Voltaic Strategic (VSR) has unearthed one of the largest clay-hosted rare earth element (REE) intersections in Australia to date at its Neo prospect within the Paddy’s Well project in Western Australia.
The company received assays for the first two reverse blade drill holes at its Neo prospect which confirmed multiple, thick zones of REE mineralisation 80 metres from the surface, with grades up to 10,072 parts per million (ppm) total rare earth oxide (TREO).
Further hits included 78 metres at 1001 ppm TREO from the surface, and 52 metres at 1270 ppm TREO from 21 metres.
The mineralisation remains open at depth and remains along strike. While assays from the remaining holes are still pending, the company has metallurgical testing underway.
“The results provide unequivocal evidence for the presence of a large REE clay system at Neo, with individual metre values up to one per cent TREO, high tenor magnet REE percentages up to 30 per cent, and very large, mineralised intercepts up to 78 metres in width,” Voltaic CEO Michael Walshe said.
“We are now eagerly awaiting the results of the metallurgical testing on the clays to determine their preliminary economic viability.”
The Neo prospect is part of an expanding unexplored regional area, home to multiple target zones holding more than 1000 ppm TREO and a high ratio of magnet
REEs, peaking at 30 per cent.
To date, only a fraction of the area has been tested, and VSR plans to follow up on target areas with more testing and drilling to focus on several carbonatite REE targets at Paddys Well.
VSR shares soared 28 per cent to 6.4 cents at 10:40 am AEST.