Announcement Date: 2022-07-04
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Australian Rare Earths Ltd.
Project name: Koppamurra
Location: Australia
Commodities: REO
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Australian Rare Earths Limited ASX: AR3 is pleased to advise that its strategy to establish a globally significant, long-life rare earths business at its 100%-owned Koppamurra Project in South AustraliaVictoria has taken a pivotal step forward with a substantial increase in the Mineral Resource Estimate. This outstanding result also opens the door for the Company to commence strategic discussions with end-users and government representatives related to potential development, downstream processing, funding, and off-take arrangements. The Company has completed two significant drilling programs since October 2021, establishing the potential for the Koppamurra deposit as a shallow, low cost, long-life resource. The consistent nature of the deposit enables expedient drilling and rapid Resource growth as well as the ability to undertake progressive rehabilitation, all of which continues to distinguish Koppamurra as a unique rare earth business opportunity. Australian Rare Earths Managing Director Don Hyma said: “This outstanding result is a gamechanger because it elevates Koppamurra to the stage where its future as a significant project is now clear. Koppamurra is one of only three advanced ionic clay-hosted rare earth deposits outside China/Myanmar, and it is now emerging as a project of both scale and quality.
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