Ann: New Rare Earth Prospect on Eyre Peninsula, page-10

hey mate, well aware of this area in particular along with ITM and the companies hunting in this area.

This along with 13 others have found REO in clay. Nothing too ground breaking there. grades are decent, intervals are decent, and some at surface.

the part of the data that is missing and is usually absent from all projects (ixr and ar3 are the only 2 who have proven them to be ionic). This basically determines how easily liberated the REO are.

if there low ionic or no ionic, it's a dead rubber. like the other 13-15 I've reviewed. They'll show recoveries but they will be under high acidic conditions which becomes economically unviable at scale and unless your grades are outrageously high.

hence the term ionic adsorption clay. not just clay deposits. REO's can be found in anomalous values in clay all over the globe.

the part that is making this not sound like an ionic clay is that the LREO content is a high percentage. typically you'll see ionic clays have a much higher HREO content. secondly the HREO and LREO content is usually more uniform across the deposit not bouncing from 20% to 70%. the underlying granites is positive but not the monazite aspect. As if the uranium and thorium (which are deleterious elements) are not in an ionic state you end up with radionuclides in the processing circuit generally at concentrated levels as you attempt to purify the REO into a 90% REO concentrate.

will call the company and push on them about what testing their doing and what their geologist has to say. 9/10 I don't get much back or they know less than I do.

if I come back today with a buy status, it's a good sign. but the eyre peninsula area along with the other areas up near Mt Clare is WA and the area north east of Esperance have all proven to have relatively the same recipe. REO in clay, not ionic.

SF2TH