ABx Group (ASX: ABX) and its consultants have completed the first comprehensive block model resource estimation of the Deep Leads-Rubble Mound rare earth resources in Tasmania.
The resource estimate exceeds 50 million tonnes at approximately the same grade as previous smaller-scale resource estimates. The cut-off grade is 350 ppm TREO- CeO2. The resource has the highest proportion of dysprosium + terbium (4.4% of TREO) of any clay-hosted rare earths resource in Australia.
The resource model is based on data from 407 drillholes across the resource area and covers 39% of the identified mineralised outline. Furthermore, because it models all intercepts to date, the resource estimates highlights four high grade zones that warrant follow-up.
Group Managing Director and CEO Mark Cooksey said the exploration potential is self-evident and exploratory drilling is currently in full swing.
This block-modelling of resources is another significant step towards commercial assessment. It geostatistically models almost twice the tonnage of earlier polygonal estimates at similar grades to give guidance to ABx’s exploration of an extensive area of ionic adsorption clay rare earth mineralisation,” Mr Cooksey said.
“Equally as important, ABx is now focusing on identifying higher grades, and the block model has confirmed four high-grade rare earth zones in accessible sites that warrant infill drilling. ABx’s resource is exceptionally enriched in permanent magnet rare earths, especially dysprosium and terbium, which have the highest supply risk and are almost exclusively produced from ionic adsorption clay rare earth deposits.
“ABx is focused on creating a rare earths project that can address looming supply shortages of these critical minerals”.
ABx’s IAC deposits are located in accessible pine plantations near highways, rail lines, airports, international shipping ports, grid hydropower and cities with major engineering capabilities and heavy industries.
