RareX identifies elevated niobium and REE mineralisation at Khaleesi project
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2024-10-14
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RareX (ASX: REE) has identified significant niobium and rare earth element (REE) potential in a study of historical material at its new Khaleesi project in Western Australia.The company elected to re-assay prior drilling material in an area that had previously been targeted for its gold potential.The historical air core drilling pulps from AngloGold Ashanti were re-assayed, with numerous intervals of elevated rare earths identified at Niobe and Luchini.“We are exploring predominantly for niobium-REE carbonatites within the basement rocks of the Khaleesi alkaline intrusion complex and these assays, with highly elevated REEs and high-field-strength elements in the regolith profile, confirm we are in the right environment for carbonatites and will help us home in on the targets,” managing director James Durrant said.“We are very excited by the prospects of Khaleesi,” he added.“Not only the intrusive carbonatites within the underlying basement rocks for niobium and REE that haven’t been targeted by prior drilling, but also the structural features including deep plumbing faults identified through extensive reinterpretation of the geophysical data, where the prospects for precious and base metal mineralisation and enrichment are very real.”RareX’s only disappointment was that a prolonged tenement application process has pushed the exploration drilling plans it hopes to undertake in one campaign back to next year.The tenement was pegged on 9 May 2024 and an immediate request for an expedited process was made, with a heritage agreement signed with the Upurli Upurli Nguratja people by 29 July.However, the tenement application was not referred to native title until 24 July and the advertising period, which started on 9 August, doesn’t end until 9 December, making a 2024 start to drilling impossible.RareX signed a site access agreement in late September with AngloGold Ashanti in relation to exploration licence E39/2504, part of the 100%-owned Khaleesi project.The agreement includes the use of the Tropicana access road, facilitating efficient travel into the licence area for exploration activities—the final step for the granting of the exploration licence and access to priority drilling targets.RareX is targeting niobium-REE carbonatite intrusions at the site, like at Mt Weld to the north-west, or intrusion-related hydrothermal mineralisation such as those found at Ponton Dyke to the south.
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source:SMALL CAPSRareX (ASX: REE) has identified significant niobium and rare earth element (REE) potential in a study of historical material at its new Khaleesi project in Western Australia.The compa...