Significant Primary High-Grade Phosphate Discovery At Cummins Range

RareX Limited (ASX: REE; “RareX” or “the Company”) is pleased to advise that it has intersected a significant high-grade zone of primary phosphate mineralisation immediately north of the main rare earths zone at its flagship 100%-owned Cummins Range Rare Earths Project in the Kimberley region of WA.

Key Points:

• Significant primary phosphate mineralisation intersected for the first time in diamond drilling targeting a northern extension of the main Rare EarthZone.
• Diamond hole CDX0015 intersected what is now referred to as the “Northern Phosphate Zone”,with a spectacular intercept of:
  • 71m at 15% P2O5 from 71.5mdown-hole
  • Assays awaited for the top of thehole
• This is the first time that primary phosphate mineralisation has been intersected at Cummins Range.
• Previous drilling in the northern area intersected wide zones of supergene mineralisation, demonstrating the potential scale of the system:
  • CRX0027 102m at 18%P2O5
  • CRX0028 94m at 11%P2O5
  • CRX0029 87m at 19%P2O5
  • CRX0030 97m at 19%P2O5
  • CRX0064 21m at 20%P2O5
  • CRX0067 46m at 18%P2O5
  • CRX0068 47m at 18%P2O5
• Carbonatite-hosted phosphate deposits are considered premium to sedimentary deposits.
• The grade compares well to other operating mines of this type, in the range of 5% P2O5to 15%P2O5.
• The zone is distinctly separate to the high-grade rare earths zone, with a phoscorite unit identified for the first time.
• Intriguingly high NdPr and HREO content for the rare earths contained in this zone.
• Phosphate is currently in high demand for fertiliser production and food security.

The mineralisation was intersected in diamond hole CDX0015, which was drilled into an interpreted northern structure for its high-grade rare earth potential as part of the extensive diamond drilling program completed late last year.

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