ABx Group (ASX: ABX) has commenced an RC drill programme to further determine whether ionic adsorption clay (IAC) style rare earth mineralisation could extend in the northern section of the Deep Leads Project in Tasmania.
The drill programme of approximately 18 holes will test if there are similar rare earth grades to that observed in the recently announced northernmost discovery hole RM302, which intersected 11m @ 1,700ppm TREO, five km northeast of Deep Leads.
At 11 metres thick, RM302 is highly enriched in permanent magnet rare earths, especially dysprosium (Dy) and terbium (Tb), with a combined total of 4.7% of TREO.
RM302 is considered to be one of the best rare earth intercepts to date and is located at the north-eastern point of ABx’s first-pass drill coverage. It is the first of several similar prospects identified by ABx in the north-east and in the direction of the Wind Break discovery.
ABx’s target area for exploration activity at Deep Leads – Rubble Mound has increased from 35 sq. km to over 100 sq. km and covers the Wind Break discovery 16 km to the east.
Managing Director and CEO, Mark Cooksey, said yhe company’s increasing knowledge base is allowing it to be more selective when targeting areas for drilling.
We are very excited to be undertaking this drill program to follow up on the stellar result from discovery hole RM302 and to better understand whether IAC rare earth mineralisation extent north of Deep Leads – Rubble Mound,” Mr Cooksey said.
“We anticipate the programme should only take two weeks to complete with assay results anticipated shortly thereafter. The outcome of this programme has the potential to be significant value driver for ABx.”