source:Small Caps
After a thorough review, RareX (ASX: REE) will begin a major drilling program later this month, which is designed to test a new geological model at its flagship Cummins Range rare earth element project in Western Australia’s Kimberly.
The upcoming program will comprise up to 6,000m of reverse circulation and diamond drilling and will follow up on newly identified targets.
RareX geologists undertook a “thorough” review of the project including analysing data from 58 RC holes that were completed in August through to October last year.
The review has led to the development of a new geological model for Cummins Range and “significant” exploration targets.
This revised model has underpinned planning for the upcoming program.
RareX managing director Jeremy Robinson said the company’s geological team’s new understanding of Cummins Range could be a “game-changer” and builds on its existing attributes as an “advanced, high-quality” REE project.
“If the new geological interpretation is confirmed, the upcoming drilling has the potential to dramatically expand the scale of the deposit and delineate a significant volume of new high-grade material,” he added.
April exploration re-start
RareX has already secured drill contractors for the program that will start towards the end of this month.
The company has also begun mobilisation of the camp.
About 10 holes for 2,000-3,000m of diamond drilling has been planned to test down-dip extensions to the main fault, which has been identified over 550m of strike. Holes will be drilled to depths ranging from 150m to 400m.
Another 2,000-3,000m of RC drilling will target extensions to the main fault along with other anomalies.
This information is expected assist with upgrading the current inferred resource of 13 million tonnes at 1.13% total rare earth oxides with 22.1% neodymium-praseodymium.
As well as mineral exploration, several holes will be drilled to feed into mining study work.
These will include three diamond holes to obtain geotechnical information for pit designs and further metallurgical samples.
In line with pre-mining requirements, six water monitoring bores will be completed to gather information on water movement and impacts on local and regional environments.