Announcement Date: 2021-11-22
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: RareX Ltd.
Project name: Cummins Range
Location: Australia
Commodities: Rare Earth
Highlight: Drilling results incl. 21.9m @ 3.07% REO from 111.9m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: RareX Limited (ASX: REE; RareX or the Company) is pleased to advise that it has received further exceptional wide, high-grade results from diamond drilling targeting the primary zone at its 100%-owned Cummins Range Rare Earths Project in the Kimberley Region of Western Australia. The results – from holes CDX0002, CDX0003, CDX0004, CDX0005 and partial results for CDX0011 – have provided clear evidence of the significant potential of the primary zone to contain wide zones of high-grade mineralization, reinforcing the opportunity to substantially increase the current Mineral Resource of 18.8Mt at 1.15% TREO + 0.14% Nb2O5 (Indicated Resource of 11.1Mt at 1.32% TREO + 0.17% Nb2O5; Inferred Resource of 7.7Mt at 0.88% TREO + 0.11% Nb2O5). Assay results for 93m to 141.9m down-hole have been received for drill hole CDX0011, with the zone returning very high-grade results of 21.9m at 3.1% TREO with 0.6% NdPr and 0.2% Nb2O5, including 3m at 10.6% TREO with 1.8% NdPr. Importantly, this fresh rock intersection is interpreted to be true width and has been drilled 35m down-dip of the previously announced drill intercept from hole CRX0063 (41m @ 2.4% TREO with 0.5% NdPr and 0.5% Nb2O5 ASX Announcement 9 September 2021).
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