"...the Weld North circular magnetic anomaly has a diameter of...

"...the Weld North circular magnetic anomaly has a diameter of 5km with a similar magnetic anomaly pattern to the Mt Weld carbonatite complex, where the magnetic anomaly amplitude is less pronounced – indicating less magnetite content of the rocks.

This characteristic may not have a bearing on the REE potential of the target, since many REE-bearing carbonatite phases are non-magnetic. For example, the majority of the current RareX Cummins Range REE resource is closely associated with non-magnetic carbonatite intrusive rocks and shear zones within a circular diatreme structure.

It is possible that the Weld North magnetic anomaly is caused by an Archean granitic intrusion. Surface inspection of the Weld North intrusion did not result in any positive identification of a magnetic source, nor identification of any primary geology due to the significant sandy cover sequence.

The circular shape and size comparison to Mt Weld indicates that the Weld North magneticanomaly is highly prospective for a significant rare earths discovery."

Informative and similar to what a few others have suggested. The surface has nothing to show for it, but might there be something underneath.

"The program will assess if the source of the magnetic anomaly is a carbonatite intrusion, similar to the high-grade Mt Weld mine, or a granitic intrusion. Drilling will take 2-3 weeks, with results expected to be available in January"

Not a such a long wait at all.