Ann: High-Grade Ionic Rare Earth Zone At Ema Expanded By 54%, page-2

The last of the Ema REE assays are in covering 12km². MRE due by end of March.

Highlights
• 54% increase in high-grade zone (>1000ppm TREO) to 12 km2
• High-grade REE mineralisation extends 3.2km to the east
• Consistent NdPr high grades in the lower horizon at Ema East
• Grades (>1,000ppm TREO) remain open in all directions
• Mineral Resource Estimation on track for release Q1 covering only 82km2 drilled of the 189km2 available

A new 4 km2 zone with outstanding TREO grades (>1,000ppm TREO) with exceptional values for NdPr oxides in the enrichment horizon was defined, extending that zone to 12 km2 (Figure 2), representing a 54% increase in the high grade area within this major and widespread ionic rare earth deposit, which remains open in all directions.

The average grade of the lower horizon within this 12km2 zone is 1048ppm TREO, based on a cut-off of 700ppm TREO combined with NdPr >100ppm. The vast majority of auger holes with composite grades below 800ppm TREO (Figure 2) are holes that, due to the limitations of the drilling technique and the location in respect to the topography, failed to intercept the lower enriched horizon where values are generally above 1000ppm TREO and NdPr >200ppm respectively.

The 36km2 enriched zone in Ema East is similar in grade and thickness to that at Ema, with the higher grades contained within the 10 metres of regolith sitting above the saprock/fresh rock interface, showing a clear increase in grades with depth (Figure 3). All significant intersections (>500ppm TREO) also contain the higher grades (>100ppm) of NdPr oxides.