- Mount Ridley Mines (MRD) reports further high-grade REE mineralisation at the Mia prospect, located within its Mount Ridley project in Western Australia
- The company received first assays from an aircore drilling program at Mia, its most advanced prospect of 12 within its REE project
- Assays confirmed clay-hosted REE mineralisation with intersection grades of greater than 1000ppm TREO, occurring consistently within a 3-kilometre-wide zone
- Intersections of REE mineralisation range between 3 metres and 41 metres, with an average thickness of approximately 12 metres
- Screen up-grade beneficiation testing of 19 samples is advancing with initial results expected before the end of May
- MRD shares last traded at 0.3 cents
Mount Ridley Mines (MRD) has reported further high-grade rare earth element (REE) mineralisation at its Mount Ridley project in Western Australia.
The company received first assays from an aircore drilling program at its most advanced prospect Mia – one of eleven prospects within its REE project.
Mount Ridley announced that resource-evaluation drilling continued to intercept clay-hosted REE mineralisation with grades greater than 1000 parts per million (ppm) total rare earth oxides (TREO).
This mineralisation is reported to be within a 3-kilometre-wide corridor of parallel in-situ clay units. The company also reported it remained open to the northeast and southwest.
Intersections of REE mineralisation ranged between 3 metres and 41 metres, with an average thickness of approximately 12 metres.
“These results provide confidence regarding the continuity of mineralisation between drill sections for the Mia Prospect as we progress towards our maiden mineral resource estimate,” MRD Chair Peter Christie said.
“Mount Ridley’s geologists have interpreted Mia mineralisation as structurally controlled within a 3-kilometre wide corridor, and drilling has outlined mineralisation over a strike length of approximately 16km and the prospective corridor remains open.”
Additionally, specific gravity measurements from five diamond core samples of Mia clay-hosted REE mineralisation spanned between 1.4 and 1.7, with an average of 1.6.
Drilling efforts focused on the central Mia area using a grid pattern of 2000 metres by 400 metres.
The company also announced that screen up-grade beneficiation testing of 19 samples was advanced, with initial results expected before the end of May.
MRD shares last traded at 0.3 cents.