ABx Group Limited (ASX: ABX) has received an initial batch of assays from exploration drilling for rare earth element (REE) at Deep Leads deposit, northern Tasmania.
The company’s mineralisation is mainly the most valuable permanent magnet type of REE.
Hole DL450 was the first hole to reach target depth and it returned 10 metres of REE mineralisation averaging 863ppm TREO, including six metres averaging 1,122ppm TREO from five metres depth.
It discovered the channel that carries the high-grade ionic adsorption clay REE mineralisation westwards towards major channels that are being drilled now.
We’ve now delineated a channel of thick ionic adsorption clay REE which is good grade, shallow and proven to be easily processed,” ABx CEO, Mark Cooksey, said.
“We await assay results from recent holes into 6 other large channels on the flanks of Deep Leads. The potential size of REE mineralisation at Deep Leads and the Rubble Mound REE discovery six km east of Deep Leads is becoming substantial. We are also pleased that our improved drilling technology can now penetrate the full thickness of many of our REE mineralisation zones for the first time.”
High grades
Holes DL450, DL453 and DL462 returned high-grade REE results that extended the area of strong mineralisation. These holes ended while still in the strongly mineralised zone due to drill difficulties with water and broken ground.
Hole DL453 intersected four metres of clay with high REE grades and assays for shallower samples are still pending.
ABx has drilled 88 new holes at Deep Leads since 19 April. Early results have been received from only 20 holes.
These results have tripled the prospective area, including six major channels that can extend ABx’s ionic adsorption clay REE mineralisation by over 6.5km towards Rubble Mound discovery.
Drilling programme continues
ABx’s current drillholes in outlying greenfield areas are subject to a Tasmanian State Government, Exploration Drilling Grant Initiative (EDGI) for co-funded exploration drilling projects.
ABx and Tasmania’s E-Drill’s improved drilling technology result in many holes now reaching target depths and collecting cores from important strata using push-tube methods.
The drilling programme is planned to continue in July, including testing the 6 major channels at Deep Leads and a first pass drill testing of the six km long extensions between Deep Leads and Rubble Mound project areas.
