ABx Unveils Rare Earths Sample from Deep Leads Resource

The ABx Group Ltd (ASX:ABX) confirmed on Tuesday (December 2) that the Australian Nuclear Science and Technology Organisation (ANSTO) has produced the first mixed rare earth carbonate (MREC) sample from its Deep Leads resource in northern Tasmania.

According to the report, the sample contains 4 percent dysprosium and 0.7 percent terbium, more than twice that of any other peer. The company added that these high proportions suggest that the ABx MREC basket price is 17 percent to 51 percent higher than all peer MRECs.

Deep Leads is among ABx’s priority projects, with the project making it the first company to discover rare earths in Tasmania.

Its JORC-compliant mineral resource is 89 million tonnes at its Rubble Mound and Wind Break deposits.

The company engaged ANSTO to conduct desorption tests.

ABx said on its website that ANSTO “found the highest extractions under relatively neutral pH conditions reported from any clay-hosted resource in Australia.”

“We’ve been eagerly anticipating confirmation of this MREC product, which is simply the best we know of from any ionic rare earth resource outside of China,” said ABx Managing Director and CEO Mark Cooksey.

He added that this result, alongside Deep Leads’ resource size, grade and location, makes it a highly compelling opportunity and encourages high investor interest.

The project also places Tasmania on the rare earths map, with ABx anticipating attention from customers seeking high dysprosium and terbium and low uranium and thorium.

ABx said that its next steps include sharing the MREC composition and samples with possible customers and offtake partners for further evaluation.

Column leach tests on a bulk sample from Deep Leads are to be conducted after, with preliminary results expected in December.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.