| Announcement Date: | 2022-11-08 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Australian Rare Earths Ltd. |
| Project name: | Koppamurra |
| Location: | Australia |
| Commodities: | Rare Earth |
| Highlight: | Drilling results incl. 6m at 1668ppm REO from 6m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Australian Rare Earths Limited (ASX: AR3) (“AR3” or the “Company”) is pleased to announce strong assays which pave the way for a Resource increase at its 100 per-cent owned flagship Koppamurra Project (“Koppamurra” or the “Project”) , located on the South Australian-Victorian border. The assays reveal substantial widths of mineralisation exist outside the current Mineral Resource and Exploration Target areas. Importantly, they show a continuation of mineralisation extending south from the Exploration Target. The current Exploration and Resource Definition drilling program commenced in mid-September, 2022 with 530 holes drilled for 5,791m. Drilling is spaced at 100m centres along forest tracks and at 120m centres within the forest along narrow cleared “out rows”. Drilling at 120m spacings is being undertaken to support an Indicated Resource classification based on previous MRE variography and will allow for further infill drilling to 60m to potentially achieve a Measured resource classification. Drilling is targeting resource extension and conversion from Exploration Target/Inferred/Indicated resource classification in this area. Overall preliminary pXRF readings, geology and this first batch of assays have been highly encouraging, with shallow rare earth mineralised clays underlain by limestone. |
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