IMHO, today's announcement was highly significant and very encouraging. With a total of over 45 million FNT shares being traded today on the ASX and Chi-X, and with the SP rallying +17.4% today, I am not the only one who thinks this way.
Unfortunately the title of FNT's announcement makes no reference to which project/tenement this potentially game changing news refers to, nor to which type of mineralisation has been found.
Therefore, I have started this extra thread (also at the suggestion of a geologist who also considers today's news today's announcement to be highly encouraging) in order to give today's announcement the extra attention it deserves.
Highlights:
• Helicopter-supported first pass reconnaissance rock chip sampling program completed
• Potential discovery of Rare Earth Elements (REE) mineralised ironstone exhibiting botryoidal
goethite, which could represent a weathered gossan of a primary Yangibana style
ferrocarbonatite • Samples have been sent to ALS Laboratory in Perth, with assay turnaround expected in 2-3
weeks, approximately end of November• A detailed airborne magnetic-radiometric survey of 5,189 line kilometres will be flown over
the entire tenement area, due to commence early November 2021
• Gascoyne Projects staked prior to regional land rush and recent discoveries by Dreadnought
Resources of 12 high-grade REE prospects 15km southwest of Yangibana
• Large land position with very limited historical exploration covering 230km² of prospective
Proterozoic Durlacher Supersuite lithology, host to the adjacent world-class Yangibana
Deposit 27.42Mt @ 0.97% TREO², exploring for light rare-earth oxides of Neodymium (Nd2O3)
and Praseodymium (Pr6O11) critical to the production of permanent magnets with demand
set to increase 5x by 2030
• Favourable structures identified to intersect project area, include the major Bald Hill
Lineament which has a key influence on REE mineralisation at Yangibana• Ongoing desktop review and compilation of historical datasets to identify targets and assist
in future exploration programs
GLTAH.
(20min delay)