The importance of Haoma's release is summarised thus:
Haoma Mining has pegged a large area south west of Bamboo Creek, WA where grab samples have recorded high ppm assays for Rubidium and Lutetium. In addition, Haoma Mining has developed a method to economically recover significant quantities of Rubidium (a high valued strategic metal) from approximately 2 million tonnes of Spear Hill Tailing Sands, located south west of Marble Bar, WA. In total 83% of the Rubidium and 81% of the Cesium was recoverable. Washing of the treated sample recovered 68% of the Rubidium and 40% of the Cesium, with an additional 15% of the Rubidium and 41% of the Cesium recovered by acid into a 'solution' using traditional extraction procedures.
The elements can be recovered by a traditional method using resins. Also produced was a Concentrate fraction which contained upgraded Rare Earths such as Lutetium and Yttrium which are of considerable value. As previously advised in Haoma's Shareholder Update of November 26, 2020 the data shows that the Spear Hill resource represents a low radiation hazard. [Click to view full article here]
HAO Price at posting:
23.0¢ Sentiment: None Disclosure: Held
