Ann: MOU for processing of heavy mineral sands and rare earths, page-8

Thanks for the reply @BeerBloke - today's ann is highly significant I think because it gives info about assays and benefaction results on a large portion of the air-core drilling done to date. Not just supposition any more, and confirmation that the gravity concentrate will contain 51% TREO, and of course there will be extra value from Rutile and Zircon sands.

Also advice that all the air-core drilling in the chosen initial resource area is done - next news could be a MRE over that area which is only postage stamp size on the total project.

A concentrate containing 51% TREO - perhaps as high as 71% - and containing 24% magnet REs is just too much to concentrate on (ha ha, pun) - maybe punters here regarded it as unbelievable and explains why the M.Cap here is 7 mil.

"With ~34% of Stage 1 assays being returned to date (see Appendix B), a reasonable statistical picture of the mineralisation is emerging.
With no cut-off grade and no top cut grade, the average grade of Total Rare Earth Oxides (TREO) + Yttrium (Y) + Scandium (Sc) is 498.7 ppm.

This compares well with the material sent to Downer Mineral Technologies (‘Downer’) for gravity concentration beneficiation testing (refer ASX Announcement 24 November 2023), which had raw grades at a slightly lower 463.0 ppm, and yielded a 51.9% TREO (519,000ppm) concentrate.
Based on the results of that testing, Downer estimated that a 71.7% TREO concentrate could be achievable."


I take that to mean - and this is important - that this concentrate test is for the rare earths only - the rutile and zircon, while valuable are not on the target minerals list. Is that how others see it ???

Pls DYOR, this is not advice.

@Giovanni33