Interesting ITM neighbour CMX has announced some positive...

Interesting ITM neighbour CMX has announced some positive kaolin/REE results. This is the tenement where ITM has the graphite rights and is in between the Caralue and Ethiopia tenements. Results aren't as widespread as Caralue, but there are some shallow and good grade intercepts. Most of the drilling was in the east of the tenement towards Ethiopia.

ChemX Managing Director, David Leavy, commented:

“These assay results confirm a significant body of clay hosted REE within ChemX’s tenements and will assist to rapidly advance our tenement geological modelling program. As an integral part of the REE study program, the Australian Nuclear Science Organisation (ANSTO) is undertaking a test work program to determine the optimum conditions for liberating the REE from the clay host materials. These REE results, together with several other regional discoveries are very positive for future development options.”

REE Results
Samples collected from the Kelly Tank, Bunora East and Bunora South prospects, comprised predominantly kaolin clay associated with silica as quartz sand, and mica with variable quantities of iron oxides, were screened at sub 45 micron and assayed. The results demonstrate the strong potential of the Company’s Eyre Peninsula tenements for ionically adsorbed REE. All results of sub 45-micron TREO greater than 500 ppm is included as Appendix 3.Further results interpretation is in progress and will inform future exploration activities. The relevance of REE being associated with kaolin clay is that; they are loosely bonded to the surface ofthe clay particles and can be readily displaced by simple low-cost chemical solutions which can be further processed to recover the individual rare earth oxides. ChemX has engaged ANSTO to conduct diagnostic test work for determination of potential REE extractability, with the results of this programme expected late 2022. Once received, this report will inform ChemX on feasible flowsheet optionality and serve as a key input to future downstream processing studies.