Peak Resources Announces Drill Results from Ngualla Rare Earth Project

Peak Resources (ASX: PEK,OTCQX:PKRLY) announced drill results from its Ngualla Rare Earth Project in Tanzania.

As quoted in the press release:

Using a simple and cost effective sulphuric acid leach process, Peak generated results showing rare earth leach extraction rates of up to 96.5% and an average rate 80% across the central portion of the Southern Rare Earth Zone (SREZ), the Bastnasite Zone that is targeted for initial production by early 2016.

Managing Director of Peak Resources, Richard Beazley, said:

The high recoveries achieved over a wide area support the Company’s chosen simple sulphuric acid leach process for Ngualla’s rare earth mineralisation. This means a relatively simple processing plant, lower capital costs and faster start-up.

To view the whole press release, click here.