PINNACLE MINERALS (ASXIM)PIM, which listed May last year as an advanced WA kaolin project developer, has accidentally discovered rare earths at the Disruptor prospect.A hole drilled to test historical elevated nickel geochemical results returned elevated REEs in the bottom 40m, including a maximum value of 626.3ppm TREO.Given the geochemistry of the rock and the overlaying clay regolith, this opens the potential for both hard rock and clay hosted rare earth deposits, PIM says.Based upon these results PIM has approved an immediate follow up, targeted reverse circulation (RC) drilling program to further test Disruptor, which abuts ground held by Chalice Mining (ASX:CHN) and Fortescue (ASX:FMG).“Having only scratched the surface of this unique prospect, the team at Pinnacle is excited about returning to conduct follow up drilling to thoroughly test for mineralisation at depth with the aim ofdefining zones more enriched with rare earth oxides and testing the extent of any clay hosted REE mineralisation,” PIM MD Nic Matich says.The $3m capped, tightly held minnow is up 30% year-to-date. It had $3.3m in the bank at the end of December.
Ok this is interesting.... a unexpected stumble..whilst digging for something else.. i like and it has cash in bank
PIM Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
IM)PIM, which listed May last year as an advanced WA kaolin project developer, has accidentally discovered rare earths at the Disruptor prospect.A hole drilled to test historical elevated nickel geochemical results returned elevated REEs in the bottom 40m, including a maximum value of 626.3ppm TREO.Given the geochemistry of the rock and the overlaying clay regolith, this opens the potential for both hard rock and clay hosted rare earth deposits, PIM says.Based upon these results PIM has approved an immediate follow up, targeted reverse circulation (RC) drilling program to further test Disruptor, which abuts ground held by Chalice Mining (ASX:CHN) and Fortescue (ASX:FMG).“Having only scratched the surface of this unique prospect, the team at Pinnacle is excited about returning to conduct follow up drilling to thoroughly test for mineralisation at depth with the aim ofdefining zones more enriched with rare earth oxides and testing the extent of any clay hosted REE mineralisation,” PIM MD Nic Matich says.The $3m capped, tightly held minnow is up 30% year-to-date. It had $3.3m in the bank at the end of December.
