Ann: Drilling Underway at the Hyperion REE Prospect Arkun Project, page-14

“My take away is most of the momentum is from the HPA project not the REE drilling as ionic deposits are not common in WA.”

Yep — agreed.

Not all clay REE deposits are created equally.

Most REE minerals, but especially bastnäsite and monazite, are colloidal, and must be decomposed prior to leaching — stronger acids, longer leach times, and higher temperatures — so more expensive to process, and probably not worth pursuing any further than simply identifying that aspect, and moving on.

The WA clays in weathered bedrocks and lateritic deposits, and there are vast amounts of them, are mostly these colloidal REE’s. Impact has been very clear of the need to determine the types of deposit. IF, Hyperion has truly and heavily ionic clays, THEN, and only then, it’s a very different story.

Elsewhere in Arkun, 3 reasons for no drilling yet:

• multiple land access negotiations are in progress,
• Arkun is smack in the middle of the wheat belt - and it’s the wheat seeding season,
• MMT surveys in central Arkun are being analysed.

hth,
Ice