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RareX Limited (ASX: REE – RareX, or the Company) is pleased to announce the discovery of high-grade gallium at the Cummins Range carbonatite pipe. The rare earth deposit hosts multiple wide, high-grade intercepts above the Rare and Phos carbonatite dykes. Gallium assays have been identified in the upper 80m of the carbonatite pipe, occurring alongside high-grade rare earths, phosphate, and scandium mineralisation. Deeper gallium has not yet been assayed for.
Highlights
- Historical drill holes contain values up to 6,826 g/t (0.68%) Ga2O3
- Significant Gallium Intercepts include:
- 99m at 106 g/t Ga2O3, 0.77% TREO and 160 g/t Sc2O3 from 1m
- 60m at 124 g/t Ga2O3, 3% TREO and 372 g/t Sc2O3 from 36m, Incl. 12m at 242 g/t Ga2O3, 6.7% TREO and 638 g/t Sc2O3
- 74m at 123 g/t Ga2O3, 2.4% TREO and 186 g/t Sc2O3 from surface, Incl. 30m at 206 g/t Ga2O3, 4.6% TREO and 310 g/t Sc2O3
- Research suggests these are the highest grade gallium assays reported in Australia
- Only 25% of the historical drilling has been assayed for gallium with none of the RareX drilling assayed for gallium – this discovery immediately elevates Cummins Range to the most advanced gallium deposit in Australia
- Gallium is on the critical mineral list for Europe, America and Australia and, with the growth of electronics, semi-conductors and solar panels, it is anticipated the gallium market will grow significantly from US$2.45B in 2024 to US$21.53B by 20341
- Re-assaying of samples is underway
CEO and Managing Director, James Durrant, commented: “The gallium results are an unexpected boost for the Cummins Range deposit, coming from a deep dive reassessment of the deposit in readiness for the 2025 drilling season on the near-mine anomalies. Gallium is on the critical minerals list of every major economy, including the United States and Australia, yet there are no significant Western producers. China controls 98% of the market and has imposed a comprehensive ban on all gallium exports.
“The Cummins Range deposit has been significantly de-risked through advanced heritage agreements, environmental and infrastructure studies, and mine planning. This ne aspect to Cummins Range immediately escalates this project to the most advanced gallium deposit in Australia. We look forard to conducting further studies to determine ho gallium can be integrated into our rare earth and phosphate development plans.”
Most of the world’s gallium is produced as a byproduct of aluminium and zinc refining. Gallium grades are generally classified as follows: low-grade (30–50 g/t), moderate-grade (50–100 g/t), and high-grade (>100 g/t). Initial assessments have identified a moderately mineralized area of 500m x 500m, with higher grade zones occurring within and near high grade rare earth and scandium mineralization. Notable high-grade intercepts include:
- NRC016 - 99m at 106 g/t Ga2O3, 0.77% TREO and 160 g/t Sc2O3 from 1m to EOH
- NRC058 - 74m at 123 g/t Ga2O3, 2.4% TREO and 186 g/t Sc2O3 from surface, including 30m at 206 g/t Ga2O3, 4.6% TREO and 310 g/t Sc2O3
- NRC037 - 56m at 114 g/t Ga2O3, 1.5% TREO and 263 g/t Sc2O3 from 44m, including 11m at 220 g/t Ga2O3, 3% TREO and 639 g/t Sc2O3
- NRC038 - 60m at 124 g/t Ga2O3, 3% TREO and 372 g/t Sc2O3 from 36m, including 12m at 242 g/t Ga2O3, 6.7% TREO and 638 g/t Sc2O3
- NRC068 - 86m at 105 g/t Ga2O3, 2.8% TREO and 200 g/t Sc2O3 from 14m, including 11m at 210 g/t Ga2O3, 6.6% TREO and 376 g/t Sc2O3
- NRC078 - 37m at 145 g/t Ga2O3, 3.2% TREO and 321 g/t Sc2O3 from 30m, including 10m at 292 g/t Ga2O3, 5% TREO and 500 g/t Sc2O3
Gallium at Cummins Range
Historical regolith RC drilling, conducted between 2007 and 2012 by Navigator Resources and Kimberly Rare Earths were mostly assayed for gallium. A total of 11,487 assays for gallium were completed with 36% of the assays containing >40 g/t Ga2O3.
Significant intersections have been calculated using a cut-off grade of 40 g/t Ga2O3 over 5 metres and are shown in Appendix 1. Figure 1 is a cross section showing significant gallium intercepts that have formed in saprolite on top of the Rare Dyke and below an ancient lake.
Figure 1. Section 307340E. Showing gallium intercepts at Cummins Range deposit. Section location is shown in Figure 2 and intersection specifics can be found in Appendix 1
Figure 2. Collar location plan showing carbonatite dykes 100m below surface. Also showing Section (Figure 1) location.
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REE:AU
Magna Terra Discovers Copper Mineralization and Completes Airborne Geophysical Survey at the Humber Copper-Cobalt Project in Newfoundland
Magna Terra Minerals Inc. (TSXV: MTT) ("Magna Terra" or the "Company") is pleased to announce that it has discovered copper mineralization during early-stage prospecting at its 40,675-hectare, 100% owned Humber Copper-Cobalt Project (the "Humber Project" or the "Project") located in western Newfoundland (Figure 1). The discovery of copper mineralization in bedrock is located on the east end of the Hughes Lake Trend. Copper mineralization from surface rock grab samples^^ from outcrop and subcrop comprises between 0.5 to 5% combined, fracture-controlled, foliation parallel stringers and disseminated, malachite, bornite and chalcopyrite hosted within dolomitized limestone and adjacent altered clastic sedimentary and/or mafic volcanic rocks over an observed strike length of 700 metres and marks the first occurrence of copper noted on this under-explored property (Figures 1, 2, and 3). Ongoing and initial field work consisting of prospecting, geological mapping, and the collection of 1,700 soil samples is focused on following up on the Hughes Lake Trend where an 8-kilometre-long anomalous zone of copper and cobalt in soil samples** is coincident with mafic volcanic rocks of the Hughes Lake Complex and associated magnetic rocks.
All soil and rock samples collected will be submitted to Eastern Analytical Ltd. in Springdale, NL and will be analysed for gold (30 g fire assay) and multi-element geochemistry, including elements Cu, Pb, Zn, Co, and Ag (method ICP-34). Analytical results are pending and will be reported in a future news release.
The Company is also pleased to announce that it has completed the previously announced 2,377 line-kilometre ("km") airborne geophysical survey on the Project. The helicopter-borne survey consisted of a systematic, property-wide, time-domain electromagnetic ("VTEM™ Plus") and horizontal magnetic gradiometer survey and will provide the baseline geophysical data to guide geological mapping and assist in focusing exploration efforts on the discovery of Copper-Cobalt deposits. This is the first geophysical survey of this type in the area. The Company is interested in areas of geophysical anomalies coincident with anomalous copper ("Cu"), cobalt ("Co"), lead ("Pb"), silver ("Ag"), molybdenum ("Mo"), gold ("Au"), arsenic ("As"), and antimony ("Sb") lake sediment values found throughout the Project area (Figures 1 and 2).
Magna Terra would like to acknowledge and thank both the Province of Newfoundland and Labrador and the Atlantic Canada Opportunities Agency ("ACOA") for their financial assistance through Junior Exploration Assistance ("JEA") program for work on the Humber Copper-Cobalt Project.
"We are very encouraged to have discovered in-situ copper mineralization within the first few days of working on the Humber Project. This important discovery supports our concept that the Humber Project has the potential to host Sediment-hosted Stratiform Copper Deposits, and with our exploration team currently on the ground we look forward to assessing additional targets across the extensive property. With the completion of the airborne survey, we will have one of the requisite data layers upon which to base further targeting for similar style mineralization. We look forward to updating shareholders on the results of this initial work program and sincerely appreciate the financial support of the Province of Newfoundland and Labrador and ACOA through the JEA program.
"At the Humber Copper-Cobalt Project, we have assembled a rare, first-mover, district-scale project opportunity, that will continue to leverage our expertise. We are eager to demonstrate the Project's prospectivity focused on critical metal discovery and the value we believe this Project brings to our investors."
~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.
Humber Project Highlights
- Potential for discovery of significant Cu-Co deposits;
- Host to regionally anomalous Cu, Co, Ag, Pb +/- Au, Mo, As, and Sb lake sediments;
- 8+ km Hughes Lake Copper-Cobalt Trend;
- Analogous to the Kalahari Copper Belt, Namibia and Botswana; Central African Copper Belt, Zambia and the Democratic Republic of Congo (DRC); and the Kupferschiefer Belt, Poland;
- Globally, these Sediment-hosted Stratiform Copper ("SSC") deposit types represent 20% of Cu production* and 60% of Co production^;
- District-scale land package now comprising 40,675 hectares;
- Located within the premier mining jurisdiction of Newfoundland and Labrador;
- Year-round accessibility with road access to the majority of the Project;
- First mover advantage in a previously unrecognized area of exploration potential; and
- Acquired through staking - cost effective acquisition and with no underlying royalties or option payments.
About the Geophysical Survey
The helicopter-borne survey was completed by Geotech Ltd. and comprised a Versatile Time-Domain Electromagnetic (VTEM™ Plus) and horizontal magnetic gradiometer survey. The survey was flown at 200 metre spacing in a northwest trend across the strike of the underlying geology with perpendicular tie lines flown at 2 kilometre spacing.
Lake Sediment Geochemistry and Global Analogues
The Project is underlain by rocks of the sedimentary Humber Arm Allochthon and adjacent plutonic and volcanic Hughes Lake Complex, which is centred on a series of anomalous lake sediment samples (Davenport et al., 1996) that show regionally elevated levels of Co (up to 160 ppm), Ag (up to 0.6 ppm), Pb (up to 84 ppm), Cu (up to 185 ppm), As (up to 142 ppm), Mo (up to 15 ppm), and Au (up to 10 ppb). An analysis of the lake sediment geochemical data via Principal Component Analysis has indicated that the metal suite present within the Project area is likely related to a black shale source, as many of the anomalous lake sediments have low-Ni values which precludes association with the nearby ophiolite complexes to the immediate west.
This metal signature (Cu, Co, Ag, Pb +/- Au, Mo, As, Sb) and geological environment is supportive of the area being host to SSC deposits. SSC deposits host 60% of global Cobalt production^ and 20% of global Copper production* in deposits such as the Central African Copper Belt, which is thought to be analogous to the geological setting of the Humber Copper-Cobalt Project. SSC deposits are often laterally continuous along bedding and contain consistent grades (1.2 to 5% Cu)* and large resources of by-product Au, U, platinum-group, and rare-earth elements. The exploration potential is also underscored by the presence of base metal deposits nearby including the York Harbour and Daniels Harbour Deposits located at lower stratigraphic levels of the region.
Figure 1: A map showing the Humber Project with underlying geology of the Humber Arm Allochthon, coincident anomalous Cu (ppm) lake sediment samples and location of the recently staked Hughes Lake Block.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11586/259089_270eb151d4c83a9d_002full.jpg
Figure 2: A map showing the geology, lake sediment samples (Cu-ppm) and reconnaissance soil samples** (Cu-ppm) and location of recent copper discovery along the 8-kilometre long Hughes Lake mafic volcanics, Humber Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11586/259089_270eb151d4c83a9d_003full.jpg
Figure 3: Field photographs of representative rock samples displaying fracture and foliation parallel stringer malachite, bornite and chalcopyrite mineralization hosted within dolomitized limestone along the Hughes Lake Trend, Humber Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11586/259089_270eb151d4c83a9d_004full.jpg
Qualified Person and Technical Disclosure
This news release has been reviewed and approved by David A. Copeland, P.Geo., a non-independent consultant to the Company and a "Qualified Person" as defined under National Instrument 43-101 - Standard for Disclosure for Mineral Projects.
All quoted soil and lake sediment samples results were compiled from historic assessment and government reports obtained from the government of Newfoundland and Labrador. The Qualified Person has not completed sufficient work to validate these historic results.
^^Grab samples are selective by nature and may not represent the true metal content of the mineralized zone.
^Petavratzi, E, Gunn, G, Kresse, C. (2019). Commodity review: Cobalt. British Geological Survey.
**(Galloper Gold Corp.; Fage, 2022)
About Magna Terra
Magna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging our ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned Humber Copper-Cobalt Project in Newfoundland and Labrador; our 100% owned Rocky Brook Gold and Critical Metals Project in the historic Bathurst Mining Camp of New Brunswick; and our 100%-owned Cape Spencer Gold Project in New Brunswick. In addition, the Company has optioned the Great Northern Project in Newfoundland to Gold Hunter Resources Inc. ("Gold Hunter") for total cash and share consideration of $9.5 million over a 2-year period, and currently holds an approximate 28.9% equity interest in Gold Hunter. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its large 100% owned Boleadora Project recently retained from Newmont Corp.; a precious metals discovery on its Luna Roja Project proximal to Cerrado Gold's operating Don Nicholas Project infrastructure, as well as several additional district scale drill ready projects available for purchase or option/joint venture.
Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the ability of the Company to file a report that complies with National Instrument 43-101. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, and the ability of the author of the Technical Reports to finalize same.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include the inability of the Company to execute its proposed business plans and carry out planned future activities. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, future prices of gold, changes in the financial markets and in the demand for precious metals, changes in laws, regulations and policies affecting the mineral exploration industry, and the Company's investment and operation in the mineral exploration sector, as well as the risks and uncertainties which are more fully described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
647-478-5307
Email: info@magnaterraminerals.com
Website: www.magnaterraminerals.com
