- RareX (REE) reports “outstanding” results from its 2022 drilling program at the Cummins Range project in Western Australia
- The company recorded a 513-metre intercept grading 0.5 per cent total rare earth oxide (TREO) and five per cent phosphate, as well as 288 metres at 0.4 per cent TREO and four per cent phosphate
- Significant rare earth element and phosphate mineralisation has now been confirmed over 600 metres of strike
- RareX is waiting on further assays from last year’s drilling and will use them to upgrade the Cummins Range mineral resource estimate
- RareX is trading 11.5 per cent higher at 5.8 cents at 1:24 pm AEDT
RareX (REE) has announced “outstanding” results from its 2022 drilling program at the Cummins Range project in Western Australia.
The company recorded an “exceptional” intersection of 513.8 metres at 0.5 per cent total rare earth oxide (TREO) and five per cent phosphate from three metres and 144 metres at five per cent phosphate and 0.7 per cent TREO from 557 metres.
This hole also included higher-grade zones of 7.8 metres at 5.3 per cent TREO and six per cent phosphate.
RareX also highlighted a 288-metre intercept grading 0.4 per cent TREO and four per cent phosphate including 14 metres at 1.4 per cent TREO and five per cent phosphate.
Moreover, significant rare earth element (REE) and phosphate mineralisation has now been confirmed over 600 metres of strike.
Managing Director Jeremy Robinson was pleased with these results as the company gets closer to announcing what it expects will be a “highly significant” resource upgrade for Cummins Range.
“The very wide intercepts seen in these holes show that Cummins Range is a very large bulk tonnage REE-phosphate deposit, capable of supporting a much larger project than what we scoped out initially last year,” Mr Robinson said.
The company is waiting on assays for 48 holes completed in December 22. Once these are received, it will deliver the mineral resource update later in the quarter.
RareX was trading 11.5 per cent higher at 5.8 cents at 1:24 pm AEDT.