So things seem as though they are starting to heat up at mukinbudin.
For those that aren't aware, CRS & CDR both announced REE results on the same day (05/05/23).
CRS- SIGNIFICANT RARE EARTH ELEMENT ANOMALY IDENTIFIED
CDR- "Assays from the Company’s first drill hole reveal shallow clay-hosted REE’s with grades of up to 4,764ppm TREYO"
CRS identified a rare earth soil anomaly over a minimum 300m and is open long strike on the southern portion of their tenement. Rock chips and Soil samples returned up to 3,761ppm REO after they tested 3 pegmatites prospective for REE.
CRS also have a further 5 known pegmatites on the 380 km2 tenement (E70/5939) to be tested & they are still mapping the area for further pegmatites.
CDR announced High grade REE in clay after they had received assay results for the first 40 metres of their first drill hole (KGRC001) that they had expedited. CDR are still waiting on assays for their remaining 1,866m / 12 holes plus the rest of KGRC001.
Below I've highlighted CDR's tenement boundary adjoining CRS. CDR's drill hole KGRC001 (yellow arrow) is less than 500m from CRS' tenement (E70/5939) And holes 4 & 5 (Assays pending) are 200m- 300m from CRS The image above also shows CDR's soil sample contours with TREY values. So to me it's likely that CRS have REE at their North Easterly area of E70/5939 as the closest confirmed REE values are 50m from CRS.
CDR have also indicated that they believe 3 more pegmatites may run toward CRS' tenement as seen below-
From CDR Announcement- location of the mapped Karloning Pegmatite (red) and potential extensions by way of extending the known occurrence and identifying multiple horizons on the property (yellow), based on GSWA geophysical and radiometric data Interesting how CDR are thinking there may be three addition potential pegmatites.
Below- Are CDR basing their three addition pegmatites on their REE soil contour results as seen below (yellow arrows)? Below shows 3 more potential pegmatites at CDR's southern area of tenement with 3 contours Is it possible that the 3 potential pegmatites may in fact be one large pegmatite heading in a WNW- ESE direction? The pegmatite may intermittently daylight & go back under cover as i've marked on the below image. Full disclaimer: I'm not a geologist; Just my 2 cents of possibilities!
So in theory, could there be just two REE pegmatites both heading for CRS' tenement??
Please excuse the messy mouse writing but I have marked below Karloning Pegmatite's (KP) implied direction according to CDR & Pegmatite 2 (P2) instead of 3 additional. Either way, it seems like a win win for CRS with potentially 4 new pegmatites as well as our already known 8 pegmatites on our tenement with only 3 tested. In fact QC2 P is still open....... PLUS...... CRS are still mapping for more pegmatites.
So do CRS have REE underground? CRS have only just started testing for REE on (E70/5939) and have already had an elevated REE sample early on. Now CDR with their high grade REE in clay literally right next to our tenement at the opposite end of our significant REE anomaly at QC2.
So IMO based on probability, things are looking good for CRS!
Below video on REE anomaly already posted
And finally, below is a new video on Lady Sampson.
At the end, CRS' MD, Andrew Muir mentions Mukinbudin-
"We are back out in the field following our success at QC2 as well as testing a few new areas. We've gotten a lot of traction on the rare earths lately and we're ramping up our field work in the area".
CRS -380km2- $6M MC vs CDR 15km2- $12M- MC
GO CAPRICE!!!! GLTAH- CRS & CDR
Watchthisrise
CRS Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
