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Maiden JORC 2012 Mineral Resource Estimate completed for Narraburra Rare Earth Element Project: 94.9 Mt @ 739ppm TREO, including a high-grade core of 20Mt @ 1,079ppm TREO within the Indicated Resource.
Significant improvements to the Narraburra Mineral Resource Estimate: 126% uplift to TREO grade, 50% Indicated Resource, 30% increase to tonnage from previous JORC 2004 MRE.
Mineralisation open in multiple directions providing excellent exploration potential, with mineralogical characterisation results expected in Q2 CY2023 and expedited metallurgical test work program to commence in Q3.
Assay results received for 22 diamond cored drillholes - 19 drillholes intersected significant Rare Earth Element (“REE”) and Rare Metal (“RM”) mineralisation.
11 drillholes intersected REE/RM mineralisation within previously identified mineralisation envelope – affirms Project’s REE prospectivity and potential.
Significantly, in terms of the upcoming Mineral Resource Estimate (“MRE”), eight drillholes intersected mineralisation outside the bounds of previously identified REE mineralisation confirming an open system and the potential for a considerably larger REE/RM system at the Project.