Ann: Codrus Confirms High Grades at Niobium-Rich REE Project, page-83

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Ooh, here’s another company-making big, niobium-rare earths rich hits – we haven’t seen one of these since WA1’s (ASX:WA1) niobium-rare earths discovery at West Arunta, which caused the stock to jump a barely believable 420% on the day.

CDR says assays confirm the potential for the Karloning REE Project in WA’s Wheatbelt to host high-value permanent magnet rare earths dysprosium, neodymium, terbium and praseodymium in xenotime, within a large-scale pegmatite.

The pegmatite system also hosts significant niobium, a critical metal used in the steel industry with applications including wind turbines and high-performance batteries.Final assays for grab samples have returned outstanding high grades such as 2.85% dysprosium oxide, 6.41% niobium and 18.60% tantalum.

CDR says the large-scale pegmatite system at Karloning is estimated to be up to 1.5km long and up to 200m wide with the company having pegged additional tenure adjacent to the southwestern boundary of the Karloning Joint Venture tenement – which encompasses potential extensions to the pegmatite system.

“The project provides an outstanding opportunity for Codrus to diversify into the critical minerals space and build on its current gold and copper assets by securing exposure to a commodity sector with outstanding fundamentals and a strong growth outlook,” managing director Shannon Bamforth says.