
September 19, 2022
Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) is pleased to update the market on the identification of several high priority targets prospective for REE mineralisation. Targets were identified by expert geophysical consultant, Southern Geoscience. The Company’s aim is to identify pegmatite bodies or carbonatite-associated intrusions within these targets that have the potential to host REE mineralisation.
HIGHLIGHTS
- High priority REE (rare earth element) targets identified by expert geophysical consultants, Southern Geoscience
- Multiple radiometric anomalies and structural zones prospective for pegmatite intrusions identified
- REE targets are located on the Company’s exploration licences E09/2354 and E09/2377 in the highly prospective Gascoyne Province, Western Australia
- Initial exploration program to commence later this month, comprising ground reconnaissance, rock chip sampling and geochemical analysis
The high priority targets sit within tenements held by Reach Resources wholly owned subsidiary, Critical Elements Pty Ltd (Critical Elements), that were acquired in November 2021. The Critical Elements Project lies in close proximity to successful explorer Kingfisher Mining (ASX:KFM) and are also only ~80km south of the Company’s Skyline tenure, which is immediately adjacent to Hastings Technology Metals Limited (ASX: HAS “Hastings”), Yangibana REE development which has a current Ore reserve of 16.7Mt at 0.95% TREO for 158Kt (Refer HAS ASX Announcement 27 July 2021). (Refer to Figure 1).
Figure 1: Reach Resources regional locations
Southern Geoscience focussed on structural interpretation and target generation based on airborne magnetic data, with additional detail derived from interpretation of radiometric data and satellite imagery. Resulting from the interpretation was the identification of six REE targets within Reach tenure. A full list of identified targets within Reach tenure is included in Table 1 and depicted in Figure 2.
All targets display geological and structural complexity combined with previously identified prospective critical metal and/or REE mineral association.
Figure 2: Targets and Magnetics
Costeaning has been undertaken previously within the project areas and returned significant results including 12.4% Ta2O5, 32.0% Nb2O5, 0.95% WO3 and 0.25% Sn, from selective rock chip samples (Refer ASX Announcement 29 November 2021). REEs were not analysed at that time however thorium anomalism, which has been shown by Kingfisher Mining and others to be associated with REE mineralisation in the region, has also been identified on Reach tenure from the radiometric data for the area interpreted by Southern Geoscience.
Click here for the full ASX Release
This article includes content from Reach Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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13 October 2023
Odessa Minerals: Exploring for Lithium and Rare Earths in Western Australia's Resource-rich Gascoyne Region
Odessa Minerals (ASX:ODE) explores for lithium and rare earths in the Gascoyne Region with a total land package of over 3,000 square kilometres surrounded by some of the most promising projects and most significant lithium discoveries. The company is uniquely positioned to leverage a quickly emerging battery metals market to drive its fully funded lithium and rare earths exploration strategy.
Western Australia's Gascoyne region is currently in the midst of a proverbial gold rush and is now the target of several large mining and exploration companies including Delta Lithium (ASX:DLI), Voltair Strategic Resources (ASX:VSR), Minerals 260 (ASX:MI6) and Reach Resources (ASX:RR1).
Odessa is still at the beginning of its journey but its value proposition is noteworthy making it an ideal investment alternative for consideration for anyone looking to get involved with lithium and the significant potential of the Gascoyne region.
Company Highlights
- Driven by lithium demand, Western Australia's Gascoyne region — previously under-explored — has become a hot zone of mining exploration and development.
- Some of the region's largest and most successful mining companies have already staked their claims there, including Delta Lithium and Dreadnought Resources.
- Odessa is an exploration company still at the beginning of its development journey, with a low market cap and strong leadership.
- Odessa's land package comprises one of the largest land holdings in the Gascoyne region, with some 3,000 square kilometres of claims divided into three distinct projects, all highly prospective and incredibly promising, located in close proximity and displaying similar geology to several recent lithium pegmatite discoveries in the region.
- Odessa's leadership team are all highly invested in the company. All planned exploration and development work is well-funded for the year.
- Over 56,000 metres strike-length of pegmatites have now been mapped by geology crews on Odessa’s Yinnetharra Lockier Range tenement
- Pegmatites at over 30 metres in width are already mapped
This Odessa Minerals profile is part of a paid investor education campaign.*
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28 July 2023
Quarterly Activities/Appendix 5B Cash Flow Report
Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) provides its activities report for the quarter ended 30 June 2023.
HIGHLIGHTS
High-Grade Lithium Results at Yinnetharra (15 May 2023)
- Lithium mineralisation confirmed with rock chip samples reporting highly encouraging assays of up to 2.3% Li2O (lithium oxide); 4295ppm Cs (caesium) and 705.8ppm Ta2O5 (tantalum oxide).
- Multiple large, strike extensive, lithium-bearing pegmatites of the Spodumene-Petalite Subtype (Featherstone, J.M, 2004) confirmed at the Company’s Yinnetharra tenements, directly adjoining Delta Lithium (ASX: DLI) and Minerals 260 (ASX: MI6).
- Results from the Bonzer include:
- 23RRRK0003 - 14,422ppm or 1.4% Li2O, 2873ppm Cs ,714.4ppm Ta2O5 and 4891ppm Rb.
- 23RRRK0002 - 12,832ppm or 1.3% Li2O, 2205ppm Cs, 243.4ppm Ta2O5 and 4108ppm Rb.
- Results from the Bonzer include:
Outcropping Copper Gossan Delivers 33% Cu Assays (18 May 2023)
- High grade copper-oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag.
14.3% Niobium & 70.3% HREO-Rare Earth Element NYF Pegmatite (1 June 2023)
- Sensational high-grade results from surface eluvial samples at Wabli Creek, Yinnetharra
- 14.3 % Nb2O5, 6.7% Ta2O5, 3689 ppm TREO with 70.3% HREO
- Independent geological experts RSC have advised that the consistent high-grade niobium and HREO is associated with a ~2.5km long rare element pegmatite swarm identified from historical records at Wabli Creek
- Importantly the mineralisation likely extends under cover (Jacobson et al, 2007)
- Source of high-grade niobium and heavy rare earth oxide (HREO) results confirmed as a rare element pegmatite swarm with niobium, yttrium, fluorine (NYF) geochemical signature
- Rare element (NYF) pegmatites are characterised by their unusual enrichment of niobium and heavy rare earth elements (HREE), in contrast to clay hosted or carbonatite deposits which predominantly contain light rare earth elements (LREE)
- Confirmation of a rare element pegmatite system increases the likelihood of identifying additional high-grade niobium and HREE which are listed as critical minerals by governments worldwide
Latest Assay Results Return up to 10.3% Niobium (28 June 2023)
- Spectacular assay results received from the latest surface eluvial and rock samples taken at the Wabli Creek rare element (NYF) pegmatite field have returned high grade niobium of 10.3% Nb2O5 (23RRRK243) and 2.6% Nb2O5 (23RRRK244). Additional anomalous rare earth elements (REE) results returned of up to 7082 ppm TREO.
- Importantly, samples from the latest program were taken up to 400m east of the previously mapped north-west pegmatite trend spanning ~1.5km, which returned results up to 14.3% Nb2O5, 6.7% Ta2O5, 3689 ppm TREO
- Latest results indicate a potential stacked pegmatite sequence and/or a new niobium/REE mineralisation source.
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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18 May 2023
Outcropping Copper Gossan Delivers 33% Cu Assays At Morrissey Hill Project, Yinnetharra
Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce that it has received high grade copper, gold and silver results up to 33% copper, 0.2g/t gold and 142g/t silver from its recently completed rock chip sampling program at the Company’s Morrissey Hill Project, Yinnetharra, W. A (Refer to Figure 4).
HIGHLIGHTS
- High grade copper‐oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag. (Figure 1).
- Results follow Morrissey Hill assays of up to 2.3% Li2O (ASX Announcement 15 May 2023).
- Mineralisation at the Swallowtail Copper Prospect was mapped over a strike length of at least 150m and remains open in all directions.
- Significant results include:
- 33.2% Cu, 0.2g/t Au and 141.8g/t Ag (23RRRK0039).
- 14.7% Cu, 0.02g/t Au and 55.6g/t Ag (23RRRK0042).
- 4.2% Cu, 0.3g/t Au and 5.7g/t Ag (23RRRK0041).
- 2.3% Cu, 0. 2g/t Au and 5.0g/t Ag (23RRRK0043).
- Historical sampling 3.0km’s west of Swallowtail could potentially extend the strike with historical results returned:
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation.
- Morrissey has never been drilled & geochemical surveys planned to commence next week.
Commenting on the results CEO Jeremy Bower said:
“The Morrissey Hill tenement at our Yinnetharra Project continues to deliver. These are outstanding copper results and in conjunction with the 2.3% Li20 announced earlier this week, it is clear how prospective the ground is. We’re focused on sourcing the critical and battery minerals of the future and copper is an important part of our strategy. Despite several world class copper‐gold and polymetallic base metal deposits in the East Capricorn Orogen, the West Capricorn and Gascoyne has been massively under‐ explored. We see this as a huge opportunity.
Importantly, we are fully funded to complete our field programs and drilling campaigns earmarked for this year. Our focus remains on thorough geochemical assessment of each target and getting drill rigs out to Morrissey Hill as soon as possible. This will mean consistent news flow for our shareholders over the coming months.”
FIGURE 3: Morrissey Hill showing location of the Swallowtail Prospect along Stringer Fault line
FIGURE 4: Regional location of Reach Yinnetharra projects
The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation. Systematic surface geochemical surveys including soils, stream sediment and rock chip sampling are planned to commence immediately. Results from this work will guide follow up programs which if warranted may include electromagnetic geophysical surveys and drill testing of priority targets.
The results were reported from an outcropping quartz‐veined gossan, the Swallowtail Prospect, showing visible malachite (copper‐oxide) over a strike length of approximately 150m. The gossan strikes east‐ west, appears to dip steeply towards the south and remains open in both directions. A single historical sample located some 3.0km’s west of Swallowtail, and within the same structural corridor, also reported high grade copper, gold and silver assays indicating a potential strike length of the target zone in excess of 3km’s (Refer to Figure 3).
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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14 May 2023
Reach Resources’ Strategic Position Between Two of WA’s Mining Heavyweights
Reach Resources’ (ASX:RR1) strategic position with its Morrissey Hill project has placed the critical mineral explorer on the radar of two of Western Australia’s mining giants Delta Lithium (ASX:DLI) and Minerals 260 (ASX:MI6), according to an article published in The West Australian.
“While Delta and Minerals 260 have between them wrapped up what appears to be the region’s prime ground, both of their maps show a glaring and curious anomaly. Closer inspection reveals that a reasonable chunk of ground, right in the middle of the two bigger players, is held by the $10m market-capped Reach Resources,” the article said.
Reach acquired the Morrissey Hill lithium project in February, at the same time that it acquired the Camel Hill and White Castles tenements prospective for rare earths and manganese, respectively, covering four tenements. Morrissey hosts historical, high-grade lithium, tantalum, rubidium, caesium and niobium, according to Reach.
Click here to connect with Reach Resources’ Limited (ASX:RR1) for an Investor Presentation.
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14 March 2023
Multiple New Lithium (LCT) Pegmatite Targets Confirmed
Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) engaged globally renowned geological consultants RSC Consultants Limited (RSC) to assess the potential of the Company’s Gascoyne projects for:
- Lithium (Li): hard rock, high grade LCT Pegmatites
- Rare Earth Elements, Heavy and Light (HREE; LREE): clay/hard rock hosted
- Manganese (Mn): high grade strata bound, supergene, and• Precious and base metals (Au; Ag; Cu-Pb-Zn)
HIGHLIGHTS
- Independent geological experts RSC consultants have identified four priority target areas for Lithium-Caesium-Tantalum (“LCT”) Pegmatites within the Company’s Critical Elements Projects, located in the centre of the rapidly developing Gascoyne “Battery Metals” Province, WA
- Each of the target areas are associated with confirmed fertile parental granites of the Thirty Three and Durlacher Supersuites and contain the same metasedimentary sequences which host Red Dirt Metals (ASX: RDT) Yinnetharra Lithium Project, less than 10 km’s to the NE of Reach Resources’ tenure
- All of the targets are defined by favourable geology, multi-element pathfinder geochemistry and the presence of mapped Geological Society of Western Australia (GSWA) Tin, Tantalum and Lithium pegmatites
- A helicopter supported field reconnaissance program has been initiated to assess the priority areas in more detail
- Drilling of priority targets is scheduled to commence in CY Q3/4 2023 once all regulatory approvals are received
CEO Jeremy Bower commented:
“RSC’s independent expert analysis confirms our belief that our landholding in the Gascoyne has the potential to host significant battery metal deposits.
Phase 1 of the assessment focused on the lithium potential at our Critical Elements Projects and has not only cemented Morrissey Hill as our primary lithium target but importantly has identified three new lithium target areas. Each of the areas are defined by the presence of a highly fertile parent granite and supported by key multi-element geochemistry including lithium, caesium, tantalum, tin and rubidium which are all well documented associations of lithium bearing “rare metal” LCT pegmatite mineral systems.
This is an exciting time for the Company and our shareholders, and we look forward to delivering updates to the market over the coming months. The Future is within Reach”.
Phase 1 of the assessment focused on the lithium potential of the Company’s Critical Elements Projects which includes the newly acquired Morrissey Hill and Camel Hill projects as well as the Wabli Creek project (Figure 1).
Figure 1: Critical Elements Projects
The assessment included a review of relevant deposit models and mineralisation styles of interest, regional and local geology, local mineral systems, academic papers, open file company and government reports and all available geochemical, geophysical and remote-sensed data sets.
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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26 February
Ema Rare Earths Scoping Study Confirms Potential for Ultra Low CAPEX and OPEX Project, Showing Strong Financial Returns at Current Commodity Prices
Brazilian Critical Minerals Ltd (BCM or the Company) (ASX: BCM) advises of completion of a Scoping Study on its 100%-owned EMA Rare Earths Project (Ema Project) in southeastern Amazonas, Brazil.
The Scoping Study was completed utilising industry recognised experts in the Australian engineering group, Ausenco Pty Ltd (Ausenco), to assist with engineering and process flowsheet development, capital and operating costs as well as pre-tax financial modelling.
Brazilian GE21 completed the mineral resource estimation (MRE) and supervised the large drill program during 2024. The Australian Nuclear Science & Technology Organisation, ANSTO, was engaged for metallurgical work development from leaching recoveries, impurity removal, precipitation and final product MREC production, whilst international engineering group, WSP, were contracted for hydrogeological development, modelling and well field design.
SCOPING STUDY HIGHLIGHTS
- Sustained, operating scale: 4,800t pa of TREO production (average LOM) within a high-grade (55.3%) final MREC
- Unit cash operating costs of US$6.15/kg LOM TREO: Industry low TREO Opex
- Unit cash operating costs of US$16.95/kg LOM NdPr: Industry low NdPr Opex
- Pre-production capital cost of US$55M (inclusive of 35% contingency): Industry low capital requirement to produce MREC in Western world
- Post-tax NPV8% of US$498M: at LOM prices of US$74/kg NdPr
- Post-tax IRR of 55%: payback period calculated to 28 months
The Scoping Study incorporates the recent Ema Project mineral resource upgrade1 into the mine schedule to drive project simplification, permitting efficiency and development fast-tracking. It also incorporates capital and operating cost estimates. All other key input parameters were developed from first principal calculations and assumptions from existing referenced operations and were applied to the Scoping Study.
The Scoping Study delivers a post-tax NPV8% (US$498M), driven by producing a high-value mixed rare earth carbonate (MREC) product, low capital costs, minimal product extraction costs, simple low-cost processing infrastructure through a long-life Mineral Resource. This Scoping Study places the Ema Project as the western world’s lowest cost Rare Earth Project producing an MREC amenable for downstream processing.
Click here for the full ASX Release
This article includes content from Brazilian Critical Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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19 February
Dalaroo Secures Option on Blue Lagoon Zirconium, Niobium and Rare Earth Project in Greenland
Dalaroo Metals Ltd (ASX: DAL, “Dalaroo” or “Company”) is pleased to advise that it has entered into a binding heads of agreement (“Agreement”) with Ox Resources Pty Ltd (“Vendor”) to potentially acquire the Zr-Nb-REE Blue Lagoon Project (tenement MEL 2022-07) (“Project”) located in the Gadar Province of South Greenland (refer Figure 1 and 3). The Project has been historically sampled as part of a regional stream sediment program undertaken by the Greenland and Denmark Geological Society (‘GEUS”) for uranium exploration in 1979.
Highlights
- Binding Heads of Agreement executed for an Option to acquire 100% of Blue Lagoon Zirconium-Niobium-Rare Earth Element (REE) Project, (MEL 2022-07), located in the Gadar Province of Greenland.
- The USGS reports Greenland has the third highest reserves of REE in the western world, following US and Australia respectively, which has significance given current geopolitical dynamics and security of supply chain concerns.
- President Trump’s recent interest in Greenland as a source of critical resources and its strategic location highlights the growing importance Greenland has for critical metals and their ownership.
- The Project has been historically sampled as part of a regional stream sediment exploration undertaken by the Greenland and Denmark Geological Society (‘GEUS”) for uranium in 1979. Dalaroo is planning a program of systematic exploration to seek to report the historical results on the Project in accordance with the JORC Code 2012.
- Project has similar geochemical anomaly footprint to the Kvanefjeld (ASX: ETM Energy Transition Metals) and Kringlerne/Tanbreez (NASDAQ: CRML Critical Metals Corp) multi- element deposits in South Greenland, showing enrichment in critical minerals and high value LREE elements from regional stream sediment sampling:
- Up to 0.93% Zirconium (Zr)
- Up to 320 ppm in Niobium (Nb)
- Up to 520 ppm in Neodymium (Nd)
- Sampling has not returned any elevated radioactive elements, which is significant given the current Greenland Government ban on any activities related to mining if uranium concentrations are over 100ppm.
- Project sits on the westernmost part of the highly prospective Gadar Block alkaline intrusives belt in SW Greenland. This belt hosts significant advanced critical metals-REE deposits.
- Project area contains potential bulk tonnage options from beach-like deposits of weathered granitic rock, providing potential low-cost options for separation and the planned focus for preliminary work.
Dalaroo MD & CEO, Mike Brown commented “We are very excited to have secured this Option on the Blue Lagoon REE-Nb-Zr Project in Southwest Greenland. Regional stream sampling has indicated significant LREE anomalies and other critical metals that have both similar tenor to the geochemical footprint and geological setting of three other REE deposits in South Greenland. We see this as a strategic play on two levels; firstly, exposure to high demand commodities such as REE, niobium and zirconium and secondly, exposure to a highly prospective and unexplored jurisdiction that is getting significant attention with respect to the vital role Greenland could play in providing critical metals in the future. With the Project being located on the coast with ice free water we are looking forward to getting onto the ground to commence exploration activities.”
Figure 1: Project location, GEUS regional stream sediment location and neodymium assay results.
Click here for the full ASX Release
This article includes content from Dalaroo Metals Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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05 February
High Grade discoveries with enriched MREOs at Agostinho highlight Caldeira’s scale
Meteoric Resources NL (ASX: MEI) (Meteoric or the Company) is pleased to provide an update on recent drilling completed at the Agostinho Prospect (Figure 1), located in the north of its 100%-owned Caldeira Rare Earth Ionic Clay Project (Caldeira Project or Project), in the state of Minas Gerais, Brazil.
Highlights
- Exceptional ionic clay intercepts up to 19,183ppm Total Rare Earth Oxides (TREO)
- Enriched Magnetic Rare Earth Oxide (MREO) up to 6,691ppm
- MREO peak zones up to 38% with an average of 30.4%, an increase of 7.4% compared to the Global Resource average.
- Elevated Heavy Magnetic Rare Earths (HREO) up to 2% of TREO
- Drilled 3,301m for 116 holes with outstanding intercepts:
- AGOAC0107 - 24m @ 6,918ppm TREO [0m] with 27% MREO
- including 6m @ 19,183ppm TREO [2m] with 34.9% MREO
- AGOAC0110 - 22m @ 4,422ppm TREO [0m] with 27.7% MREO
- including 10m @ 7,831ppm TREO [0m] with 35.6% MREO
- AGOAC0079 - 28m @ 3,183ppm TREO [0m] with 26.9% MREO
- including 8m @ 7,462ppm TREO [0m] with 37.6% MREO
- AGOAC0098 - 28m @ 5,315ppm TREO [0m] with 27.4% MREO
- AGOAC0070 - 22m @ 4,890ppm TREO [0m] with 27% MREO
- AGOAC0092 - 22m @ 4,323ppm TREO [0m] with 27.2% MREO
- including 6m @ 19,183ppm TREO [2m] with 34.9% MREO
- Mineralisation averages 28.4m thickness from surface over of the entire License
Meteoric’s Chairman, Andrew Tunks said:“The exploration and drilling teams continue to identify additional high-grade areas across the Caldeira Project. These remarkable results confirm the extensive nature of mineralisation outside the current resource base. Further it highlights that there is considerable opportunity for Meteoric to target enriched zones of magnetic rare earths and heavy rare earths using our extensive database of project wide sampling which is unmatched inside the Caldera.
It’s important to remember that we have still only infill drilled eight of the 69 licenses available at the Project and continued identification of high-grade mineralisation creates greater optionality for the potential expansion of the Project, at the right time, to support the sustainable supply of rare earth materials to the western world.”
Click here for the full ASX Release
This article includes content from Meteoric Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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05 July 2024
Seren Technologies Acquisition Update
Ionic Rare Earths Limited (Ionic RE or the Company) (ASX: IXR) is pleased to provide an update on the acquisition of 100% of Seren Technologies Limited (SerenTech), a UK private company with unique and leading-edge rare earth separation technology, as announced on 8 December 2021.
SerenTech is commercialising technology using ionic liquids for separation and refining of rare earth elements (REE), which includes the full cohort of the proposed basket from Makuutu, consisting of the lanthanides series, Lanthanum (La), to Lutetium (Lu), plus Scandium (Sc) and Yttrium (Y).
SerenTech has an exclusive “patent and know-how” licence from Queens University Belfast (QUB) allowing it to develop and commercialise the technology. Additionally, SerenTech has also developed know-how in this area and lodged a further four (4) global patents, providing a pipeline of opportunities in which to deploy the technology.
Click here for the full ASX Release
This article includes content from Ionic Rare Earths, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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09 May 2024
Reducing Reliance on China for Rare Earths Production and Processing
Experts have long warned that global overreliance on China for the production and processing of rare earth elements (REEs) was akin to a house of cards — and the Chinese government keeps proving them right.
In December 2023, China announced a ban on the export of multiple technologies related to REE extraction processing, including those used in the production of rare earth magnets. Rather than a new development, this announcement was simply the latest in a series of restrictions implemented over the previous year. Other banned exports include extraction technology, separation technology and rare earth alloys.
In response, governments around the world are ramping up their efforts to strengthen alternative sources for REE production and processing. There is considerable investment potential to be found in these efforts, provided one knows where to look.
By understanding the global REE market and what projects and technologies are gaining traction outside China, investors can identify and evaluate promising REE stocks.
An unsustainable market dynamic
At present, China is responsible for nearly 90 percent of all REE processing and 60 percent of global supply. Part of the problem, notes Reuters, is the solvent extraction process China uses to refine the critical minerals. Though highly effective, western companies have historically struggled to deploy it due to a combination of technical complexity and environmental concerns.
China, unfortunately, has no such concerns. Much has already been written about the dismal state of the Chinese mining sector. Kachin State in Myanmar, for instance, is dominated by rare earths mines that cover a surface area roughly the size of Singapore. Many of these mines are entirely unregulated and unsafe for both the people and the environment.
Although the Chinese government recently began flirting with sustainability as it pursues a transition to electric vehicles, it has actually been ramping up rare earths production over the past several years. This is in spite of the country's stated policy of shifting away from REE production to REE processing.
A report by Harvard International Review notes that producing a single ton of rare earths yields roughly 2,000 tons of toxic waste. The report further adds that Bayan-Obo, located in Inner Mongolia, China, and the largest rare earths production and processing facility in the world, has to date produced over 70,000 tons of radioactive thorium. This hazardous material is stored on site in a tailing pond, where it has contributed heavily to groundwater toxicity.
Moreover, conventional solvent extraction also requires significant volumes of energy and water. One report noted that the process is responsible for roughly 30 percent of REE production's environmental impact, adding that it could also contribute heavily to global warming, eutrophication of aquatic environments, and toxicity in humans.
As demand for REEs continues to increase, so too will production and processing, resulting in potentially more damaging environmental consequences. This paradigm arguably makes it functionally impossible to truly achieve carbon neutrality.
Finding a way forward through innovation
In recent years, western companies have made enormous strides in developing cleaner, more efficient solvent extraction techniques. Emerging production and processing strategies are considerably more sustainable, eschewing harmful chemicals and producing considerably less waste. Examples of technologies and techniques include:
Circular processing
In 2020, the Saskatchewan Research Council (SRC) and the Saskatchewan government announced plans to create Canada's first rare earths processing facility. The first-of-its-kind facility combines proprietary extraction cells, metal smelting and hydrometallurgy into a fully integrated process supported by artificial intelligence. More importantly, the facility will emit neither water nor waste. Instead, everything it produces will be recycled and reused.
MP Materials (NYSE:MP) has taken a similar approach with its Mountain Pass rare earths mine and processing facility, developing it into a completely self-contained operation with a dry tailings facility and state-of-the-art water recycling systems.
Aclara Resources’ (TSX:ARA) Circular Mineral Harvesting process to extract clean rare earth minerals follows the principles of circular processing, by recirculating up to 95 percent of the water used and 99 percent of a common fertilizer main reagent. Aclara also recently joined the United Nations Global Compact, a global corporate sustainability initiative aligning strategies and operations with the universal principles on human rights, labour, environment and anti-corruption.
Sustainable vertical integration
The idea behind vertical integration is quite simple — by controlling the full supply chain, a company has far more control over the sustainability of its production. Aclara Resources is also pursuing this strategy, driven by its Chilean assets containing ionic clay deposits rich in heavy rare earths. In April 2024, Aclara completed a deal with plans to work with the Saskatchewan Research Council and Hatch to develop rare earths processing capabilities in the United States. Aclara also secured an equity investment deal with CAP, in which the latter will invest in a 50/50 joint venture with Aclara to develop metals and alloys for the permanent magnet industry.
Aclara was already notable for being one of the cleanest future suppliers of heavy rare earths in the world, using a unique extraction process that does not require crushing, blasting or milling, minimizes water consumption and facilitates leaching through the use of common fertilizer. With this announcement, it is positioned to become the first vertically integrated heavy rare earths company outside of Asia.
The company plans to source high-purity mixed rare earth carbonates from its sustainable extraction facilities in Chile and Brazil. It will process these materials via a conceptual solvent extraction process within a separation facility engineered by Hatch. Aclara has also contracted SRC to develop a production flowsheet for its carbonates. All these efforts will establish Aclara as a vertically integrated rare earths supplier in North America.
Biomining
Biomining feeds ores or electronic waste into large, microbe-filled tanks. The microorganisms within these tanks are specialized to consume a specific type of material as they multiply. Processing and separation happen naturally as the microbes 'eat' their way through the unwanted materials.
This process produces virtually no waste, has minimal energy requirements and does not require high temperatures. The company responsible for its development, BiotaTec, notes that in addition to processing rare earths, biomining could be used to treat waste products and pollutants from other industrial processes.
The microbes used in biomining also pose minimal risk to the environment should a tank be breached. BiotaTec is currently in the process of developing the technology for licensing purposes.
Column-based extraction
Developed by Ucore Rare Metals (TSXV:UCU,OTCQX:UURAF), column-based extraction is a new spin on existing solvent extraction. While it relies on the same basic reactions as a conventional plant, Ucore's proprietary RapidSX platform is able to process REEs up to three times faster. The technology can also process light and heavy rare earths simultaneously, eliminating the need for a powered mixing tank.
Additionally, the RapidSX system allows for far more efficient and effective waste management with minimal risk of generating toxic pollution.
Investor takeaway
The world cannot continue to rely exclusively on China for REE production and processing. Governments and mining companies alike understand this. As the two sectors work together to establish a stable domestic supply chain, the innovations and new projects that emerge will offer considerable investment opportunities.
This INNSpired article was written as part of an advertising campaign for a company that is no longer a client of INN. This INNSpired article provides information which was sourced by INN, written according to INN's editorial standards, in order to help investors learn more about the company. The company’s campaign fees paid for INN to create and update this INNSpired article. INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled. If your company would benefit from being associated with INN's trusted news and education for investors, please contact us.
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01 November 2023
E-Tech Resources
Overview
E-Tech Resources (TSXV:REE, FSE:K2i) is a Halifax, Nova Scotia-based exploration company developing its high-grade Eureka rare earths project in Namibia, a top-tier and mining-friendly jurisdiction in Southern Africa. The company is focused on exploring for neodymium and praseodymium, two critical minerals necessary for the global energy transition goals.
Part of the rare earth elements (REE) family of minerals, neodymium and praseodymium are essential to high-performance magnets used for electric motors, generators and electric vehicles. As demand for REEs is expected to increase by 400 to 600 percent over the next few decades, the focus is shifting toward developing a supply chain outside of China, which has long been a dominant supplier of the world’s REE.The company's fully owned flagship Eureka project is located in the Erongo Mining Corridor of Namibia. The Eureka project has a maiden inferred resource of 310 kt at 4.8 percent TREO with grades ranging from 1 to 16 percent. The company believes there is strong potential to increase the inferred and indicated mineral resource by at least 0.5 to 1.5 million tonnes, based on a technical scoping study.
E-Tech Resources completed a combined diamond drilling and reverse circulation drilling campaign at Eureka in 2022, with final assays indicating significant intersections of 11.2 meters at 1.2 percent TREO, 2.2 meters at 2.4 percent TREO, 8.8 meters at 1 percent TREO, and 6.3 meters at 1.9 percent TREO.
In addition, preliminary pXRF drilling results1 for the Adder Target have confirmed a discovery zone with the presence of REE mineralization identified in multiple zones in a drill hole correlating with REE mineralization identified on surface. Mineralization remains open at depth and along strike.
The results are part of the ongoing extended exploration of one of the 17 targets identified through ground radiometric and magnetic geophysical surveys and a geological mapping program completed earlier.
The Eureka project is strategically located near several mines and projects, including Rossing Uranium's Rossing Uranium mine, QKR's Navachab Gold mine, Namib Lead and Zinc Mining's Namib Lead and Zinc mine, and AfriTin's Uis mine. Eureka has excellent infrastructure and access to a major highway, a railway, roads, power, water and skilled professionals.
The company has taken steps to expand its land holdings within the Erongo Mining Corridor in Namibia, by entering into an agreement to acquire an 85-percent interest in EPL 874, which lies adjacent to and surrounds the company’s EPL 6762. The approximately 165-square-kilometer EPL 8748 contains a significant portion of the prospective Eureka Dome, the geological feature hosting mineralised REE-bearing carbonatites. Approximately a third of the Eureka Dome falls within the boundary of E-Tech Resources’ EPL 6762 and the remaining portion falls on the adjoining license EPL 8748.
E-Tech Resources is committed to maintaining the highest ESG standards to sustainably supply the green economy and adhere to the guidelines of the United Nations' Sustainable Development Goals. E-Tech Resources plans to create a sustainability committee to guide its ESG efforts and will be conducting further environmental and social impact assessments as part of ongoing feasibility studies to maintain responsible sourcing. E-Tech Resources' Eureka project is currently expected to have no major negative socio-environmental impact on the region.
The company is exploring the potential of a feasibility study for a rare earth separation plant in Namibia. Recognizing the need for a de-risked supply chain for these strategic critical raw materials, E-Tech is collaborating with Ondoto Rare Earth, a private Namibian company developing the high-grade Ondoto bastnaesite deposit in northern Namibia, and Namibia Critical Metals (TSXV:NMI, OTCQB: NMREF), which is developing the tier-1 heavy rare earth project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Together, the three companies will participate in a joint venture known as Rare Earth Alliance Namibia (REAN).
E-Tech Resources also signed a memorandum of understanding (MOU) with Novamera to evaluate the use of surgical mining and Novamera's technologies as the extraction method for the Eureka Project. The MOU sets out a series of milestones that include a conceptual surgical mining economic desktop evaluation (commencing immediately), Guidance Tool calibration activities and a bulk sample which could provide a more cost-effective and faster path to production, while also radically reducing environmental and social impact.
After evaluating the results of the current exploration program, the company engaged Gecko Namibia and Flightec Namibia to support ongoing exploration and development activities on the project. Phase 1 ultra-high resolution UAV-borne magnetic survey will be conducted by Flightec.
Company Highlights
- E-Tech Resources' fully owned flagship Eureka project is located in the Erongo Mining Corridor of Namibia and has a maiden inferred resource of 310 kilotons at 4.8 percent total rare earth oxide (TREO) with significant growth potential.
- The Eureka project is strategically located near several mines and projects, as well as excellent infrastructure, with access to a major highway, a railway, roads, power, water and skilled professionals.
- E-Tech Resources is focused on exploring for neodymium and praseodymium, critical minerals essential to permanent magnets for electric vehicles.
- Early metallurgical testing has indicated the potential to be one of the simplest REE projects to process in the world.
- Recently completed ground geophysical and exploration mapping programs at the Eureka project identified 17 robust targets for exploration drilling
- Preliminary pXRF drilling results1 for the Adder Target have confirmed a discovery zone with the presence of REE mineralization.
- E-Tech Resources is committed to maintaining the highest ESG standards in adherence to the United Nations' Sustainable Development Goals.
- E-Tech Resources is led by a highly skilled management team with a proven track record of success in the mining industry and capital markets.
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