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Investing Guides
Outstanding Wide Rare Earths-Phosphate Intercepts Pave Way for Pivotal Resource Upgrade at Cummins Range in Early 2023
November 28, 2022
Australian sustainable rare earths company, RareX Limited (ASX: REE) (RareX or the Company), is pleased to report results from a further two diamond drill-holes completed as part of the 2022 drilling program at its 100%-owned Cummins Range Rare Earths and Phosphate Project in the Kimberley region of Western Australia.
Highlights
- Assays received for two new diamond drill-holes completed as part of the 2022 drilling program at the Cummins Range Rare Earths and Phosphate Project, WA.
- CDX0023 intersected 373m at 0.3% TREO, 4% P2O5 from 14m:
- Including a cumulative 51.7m at 1.3% TREO, which includes:
- 8m @ 1.4% TREO & 3% P2O5from 131m; and
- 5.3m @ 1.8% TREO & 3% P2O5from 297m; and
- 8.85m @ 1% TREO & 6% P2O5from 325.3m; and
- 4.45m @ 1.8% TREO & 5% P2O5from 347.8m
- Including a cumulative 51.7m at 1.3% TREO, which includes:
- CDX0024 intersected 264.3m at 0.4% TREO 4% P2O5 from 150m:
- Including a cumulative 71m at 1.1% TREO, which includes:
- 27.7m at 1% TREO and 3% P2O5;
- 5.2m at 1% TREO and 4% P2O5; and
- 5.85m at 2.1% TREO and 4% P2O5
- Including a cumulative 71m at 1.1% TREO, which includes:
- Results to contribute towards key Mineral Resource Upgrade due next quarter
- Assay results awaited for 49 holes and expected to be received over the coming months
The holes, CDX0023 and CDX0024, returned exceptional wide intercepts of significant rare earths and phosphate mineralisation, confirming the significant scale and potential of the mineralised system at Cummins Range.
The results will contribute to a resource upgrade scheduled for Q1 2023.
Drilling has now stopped for the wet season, with a total of 16,000m of reverse circulation (RC) and diamond drilling completed in 2022.
RC drilling focused on the shallow Phos Dyke phosphate and rare earths mineralisation, including a north- east fence line (CRX0076-CRX0079) with consistent visual apatite, confirmed by XRF.
Diamond drilling tested the down-dip extension to fresh rock rare earths and phosphate mineralisation on the Rare Dyke to 500m below surface.
Commenting on the results, RareX Managing Director, Jeremy Robinson, said: “The wide intercepts continue to come through for Cummins Range and we expect to see a strong flow of news through until January next year now the program is complete.
"Once we have received all assay results, work will commence on what we expect to be a significant resource upgrade in the first quarter of next year.
“The mineralised system is now wider than it is long, with dimensions reaching 750m of strike, a width of 900m wide and extending to a depth of 500m.”
This article includes content from RareX, 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.
REE:AU
10 October
Results of General Meeting
In accordance with Listing Rule 3.13.2 and section 251AA of the Corporations Act, CuFe Ltd (ASX: CUF) (CuFe or the Company) provides the results of its General Meeting of Shareholders held at 2:00pm (WST) on 10 October 2024, as set out in the attached schedule. The Company advises that the resolution was passed and decided by way of a poll.
The Company confirms that receipt of shareholder approval of the transaction (as referred to in the ASX Announcement of 26 August 2024), satisfies a key condition precedent. The Company is working with the purchaser Newcam Minerals Pty Ltd to finalise the remaining conditions precedent. Completion is expected to occur this month.
This announcement is intended to lift the trading halt requested by the Company on 10 October 2024 in relation to its securities.
Announcement released with authority of the CuFe Board of Directors.
Click here for the full ASX Release
This article includes content from CUFE 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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09 October
CuFe Ltd (ASX: CUF) – Trading Halt
Description
The securities of CuFe Ltd (‘CUF’) will be placed in trading halt at the request of CUF, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 14 October 2024 or when the announcement is released to the market.
ASX Compliance
Click here for the full ASX Release
This article includes content from CUFE 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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08 October
WA1 Resources Reports "Excellent" Refining Testwork Results
WA1 Resources (ASX:WA1,OTC Pink:WAORF) revealed results from the initial refining testwork conducted at its 100 percent owned West Arunta niobium project on Monday (October 7).
Located approximately 490 kilometers south of Halls Creek in Western Australia, West Arunta hosts the significant Luni niobium deposit, which was discovered during the company’s first on-site drilling in 2022.
According to a July 2024 mineral resource estimate, Luni contains inferred resources of 200 million tonnes at 1.0 percent niobium pentoxide, including a higher grade resource of 53 million tonnes at 2.1 percent.
“In June we reported that beneficiation testwork successfully produced a high-grade niobium concentrate, primarily via flotation – the first stage in a conventional ferroniobium process flowsheet,” said WA1 Resources Managing Director Paul Savich in a press release.
The refining testwork, which used the niobium concentrate produced from the beneficiation in June, returned a refined concentrate grading 66.9 percent niobium pentoxide at 99.9 percent recovery. WA1 said that they consider this an excellent outcome.
The concentrate can now be used for upcoming conversion testwork, the third and final stage in the process, with the goal of producing ferroniobium end-product.
“In parallel, variability and optimisation testwork of the beneficiation stage is ongoing with the aim of demonstrating mineralisation can be beneficiated from a portion of the Luni deposit to support detailed mine planning and other evaluations,” Savich said. "This will support process flowsheet development and preliminary mass balances to support engineering assessments.”
In September, to protect the rights of the Kiwirrkurra people and itself, WA1 Resources signed a negotiation protocol with native title representative body Tjamu Tjamu.
The protocol was entered into to ensure the project “happens the right way and everyone has a good chance to share the benefits of the project.”
Proposed infrastructure for West Arunta includes an access road connecting Luni to the mid-state highway, which has already secured a miscellaneous licence application following the negotiation protocol and other requisite approvals.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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07 October
Strong Drilling Results from Tarraji-Yampi (80%, 100%)
Dreadnought Resources Limited (“Dreadnought”) is pleased to announce results from a diamond drilling program and down hole EM (“DHEM”) surveys at Tarraji-Yampi, located in the Kimberley Region of Western Australia.
HIGHLIGHTS
- Assays from a diamond drilling program (6 holes, 1,524.8m) at Tarraji-Yampi have been received. These holes were designed to test 6 Cu-Au volcanogenic massive sulphide (“VMS”) targets around the Orion deposit and to identify potential off-hole conductors.
- Significant results were returned from the Orion, Orion Repeat, Orion Offset and OR1 targets:
Orion and Orion Repeat: KMDD001: 3m @ 4.5% Cu, 2.2g/t Au, 46.0 g/t Ag, 0.15% Co from 58.3m
And: 16m @ 0.7% Zn, 0.7% Pb, 12.7g/t Ag, 0.1g/t Au from 162m
Including:2m @ 2.6% Zn, 1.1% Pb, 26.8g/t Ag, 0.1g/t Au from 173m
Orion Offset: KMDD004: 5m @ 0.4% Cu, 0.5 g/t Ag from 11m
And: 1m @ 1.3% Zn, 0.7% Pb, 32.2g/t Ag, 0.1g/t Au from 23m
And a 50,000S conductor spanning ~150m x 150m, located ~100m down dip
And: 2m @ 0.9% Zn, 0.2% Pb, 3.8g/t Ag from 106m
And a 15,000S conductor spanning ~90m x 140m located ~80m down dip
OR1: KMDD006: 6m @ 1.2% Cu, 0.08% Co from 27m
Including: 2m @ 2.0% Cu, 0.19% Co from 28m
And a 24,300S conductor spanning ~80m x 200m, located ~180m down dip
- Additionally, a strong 14,500S off hole conductor spanning ~335m x 350m was defined at OR2.
- Results from the regional IP survey are expected in October 2024.
Dreadnought’s Managing Director, Dean Tuck, commented: “This drilling program was designed to identify new zones of mineralisation within and around the same feeder structures as Orion to better understand the Cu-Au VMS system. This program has delivered 6 new zones of mineralisation and four off-hole conductors that warrant follow up drilling. This is a successful outcome for the program and validation of the VMS model of mineralisation. As part of this program, an EIS co-funded IP survey was undertaken to test the effectiveness of IP at identifying Grant’s Find style Epithermal / Mesothermal Cu-Au mineralisation. The significant intersection of this style of mineralisation at OR1 underscores the importance of this work and we expect the results of that survey in October 2024.”
Figure 1: Photo of the Topdrill diamond rig at Orion Repeat.
Technical Discussion of Diamond Drilling
In the Phase 1 drill program (6 holes, 1,640m), 5 of the 6 targets were located along the same interpreted feeder structure as the Orion deposit and were defined by highly conductive, magnetic anomalies associated with elevated pathfinder geochemistry. These targets include the depth extension of Orion. The 6-hole Phase 1 drill program targets are discussed and summarised below.
Click here for the full ASX Release
This article includes content from Dreadnought 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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03 October
Energy Fuels: Uranium Sector Strong, Now Ramping Up Rare Earths
Following the closure of Energy Fuels' (TSX:EFR,NYSEAMERICAN:UUUU)acquisition of Base Resources, Curtis Moore discussed the buildout of the company's rare earths and heavy mineral sands businesses.
"We are creating a truly diversified critical minerals company. This diversification is based upon on our core uranium processing and our core uranium production capabilities, which remain the heart of our business," he said.
"We have been and will be the number one uranium producer in the US ... however, on top of this uranium capability that we have, we've been able to bolt on a world-significant rare earth business and also a world-significant heavy mineral sand business," added Moore, who is SVP of marketing and corporate development at Energy Fuels.
Base Resources holds the Madagascar-based Toliara project, which once up and running will be a source of heavy mineral sands, as well as monazite, which can be used to produce the magnet rare earths used in electric vehicles.
Moore explained that Energy Fuels will be able to process the monazite at its White Mesa mill in Utah.
Using feed from Toliara, as well as the Donald project in Australia and Bahia project in Brazil, the company eventually expects to be able to produce 5,000 to 6,000 metric tons of neodymium-praseodymium oxide annually, as well as about 300 to 400 metric tons of dysprosium and terbium oxides. Moore estimated that it will take two to three years to get to that level of output as the company expands White Mesa and gets Toliara, Donald and Bahia going.
"When you're talking about those levels of rare earths, that's about the same size as a Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF) or an MP Materials (NYSE:MP), and we expect to be highly competitive on costs," he said.
Watch the interview above for more of Moore's thoughts on rare earths, heavy mineral sands and uranium.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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27 September
SRC and Defense Metals Sign MOU for Rare Earths Processing in Canada
Defense Metals (TSXV:DEFN,OTCQB:DFMTF) has signed a memorandum of understanding (MOU) with the Saskatchewan Research Council (SRC) to support the development of a domestic rare earths supply chain.
The collaboration was announced on Thursday (September 26) and has three main objectives.
The organizations will explore potential joint initiatives related to the processing and supply of rare earth materials, and will discuss the use of the SRC's rare earths separation technology for Defense Metals’ products.
They also plan to pursue negotiations for a long-term supply agreement.
The SRC has developed proprietary technologies for rare earths separation, while Defense Metals is developing its Wicheeda rare earths project, located about 80 kilometers north of Prince George in BC, Canada.
Guy de Selliers, executive chairman of Defense Metals, emphasized the partnership's strategic importance in enhancing North American supply chains for critical materials.
“By working together with SRC, we believe we can make substantial progress toward closing the rare earth supply chain loop and ensuring the availability of these critical materials for green energy and defense applications that are essential for national security,” he said in a press release shared by the company.
The agreement coincides with broader national efforts to reduce reliance on foreign sources for critical minerals.
The Canadian government is prioritizing the development of domestic mineral industries through its Critical Minerals Strategy, which seeks to support the country's economic security and competitiveness in clean energy and defense.
The partnership is expected to contribute to national security objectives by ensuring the availability of key rare earths that are essential for a range of modern technologies, including electric vehicles and military systems.
The MOU with Defense Metals is one of several recent moves in the sector by the SRC.
The SRC recently achieved commercial-scale production at its rare earths processing facility in Saskatoon, Saskatchewan. The facility, which became operational this past summer, is now producing rare earth metals at commercial levels, with an initial output of 10 metric tons per month of neodymium-praseodymium metals.
The facility’s purities exceed 99.5 percent, and its conversion rate is reported to be over 98 percent.
This milestone makes the Canadian province the first jurisdiction in North America to achieve commercial-scale rare earths production. The SRC plans to ramp up production to 40 metric tons per month by December of this year, and aims to reach an annual production capacity of 400 metric tons by early 2025.
Last month, the SRC signed a similar MOU with Arafura Rare Earths (ASX:ARU,OTC Pink:ARAFF) to explore the processing of rare earth materials from Arafura’s Nolans project in Australia at SRC’s Saskatoon facility.
This agreement focuses on processing heavy rare earths like dysprosium and terbium, which are used in high-performance magnets for electric vehicles and other technologies.
The rare earths industry has gained increasing attention due to the growing demand for clean energy technologies amid the ongoing energy transition. However, the supply chain remains vulnerable due to China's dominance.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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