Northern Minerals boosts Dazzler rare earths resource estimate more than 50%
source：Proactive Investors Australia
The Dazzler deposit is now the second-largest resource at the Browns Range Project behind the Wolverine deposit.
Northern Minerals Ltd (ASX:NTU) has increased the total rare earth oxides (TREO) resource at Dazzler deposit within the Browns Range Heavy Rare Earth Project in northern Western Australia by more than 50%.
The updated inferred mineral resource for Dazzler has been estimated at 214,000 tonnes at 2.33% TREO for 5 million kilograms TREO at a cut-off grade of 1.15% TREO.
This represents a more than 50% increase in contained TREO from the maiden mineral resource estimate reported on March 6, 2019
Shares are up more than 12% to 2.7 cents.
“Significant increase in high-grade tonnes”
Managing director and CEO George Bauk said: “We are extremely pleased with the growth of the Dazzler resource in a short period of time.
“This is a significant increase in high-grade tonnes for the project and highlights the potential of this style of mineralisation.
“We look forward to getting back on the ground in the future to further test extensions of Dazzler, as well as other unconformity-related targets.”
High proportion of HREO
There is a high proportion of heavy rare earth oxides (HREO) at 95% with 2,170ppm dysprosium compared to 750ppm at Wolverine.
This new estimate, which is the result of several reverse circulation (RC) and diamond drilling programs in 2019, sees Dazzler become the second-largest resource at Browns Range behind Wolverine.
Dazzler is less than 15 kilometres from the Browns Range Pilot Plant on the edge of a small scarp slope and was first drilled in 2013 with only patchy mineralisation intersected within the Browns Range Metamorphics.
In 2018 follow-up drilling intersected encouraging mineralisation within the Gardiner Sandstone and subsequent drilling in early 2019 led to a maiden mineral resource estimate.
Northern Minerals is planning mining studies to be undertaken for the remaining part of 2020.