ABx Group (ASX: ABX) continues to grow one of Australia’s most significant rare earth resources with a major update\ to resource estimation of the Deep Leads – Rubble Mound and Wind Break rare earth resources located 45 km west of Launceston, Tasmania.
The new resource estimate of 89 million tonnes is a 70% increase in tonnes and 3% higher grade than the previous estimate. The cut-off grade used is US$30/t contained rare earth oxide value, which similar to the previous cut-off grade of 350 ppm TREO-CeO2.
The resource has the highest proportion of dysprosium + terbium (4.3% of TREO) of any clay- hosted rare earths resource in Australia.
The resource model is based on 3,843 REE assays from 895 drillholes and covers 29% of the identified mineralised outline and includes the Wind Break deposit for the first time. The resource model highlights four high grade zones that warrant follow-up for economic and metallurgical assessments.
Managing Director and CEO Mark Cooksey said the exploration potential is expanding significantly as ABx refines its exploration technology.
“This 70% expansion of our rare earths resource arises from 400 new drillholes and expansion of our mineralised outline by ABx’s proprietary exploration technology. This campaign has enhanced the higher-grade zones that are our top candidates for production studies,” Mr Cooksey said.
“Because ABx is beginning economic studies, we have introduced a cut-off grade based on the gross value of contained rare earth oxides that allows us to easily vary the in-situ gross dollar value of resource estimates in the higher-grade zones.
“ABx’s resource is exceptionally enriched in permanent magnet rare earths, especially dysprosium and terbium, which have the highest global supply risk and are almost exclusively produced from ionic adsorption clay rare earth deposits in China and Myanmar.
“ABx is focused on creating a rare earths project that can address looming supply shortages of these critical minerals.”
