Cazaly Resources Limited (ASX: CAZ) has entered into an exclusive agreement to acquire 100% of the Carb Lake Rare Earth project in Ontario.
The Project is located in the Red Lake District in Ontario, a well-known mining province in Canada and comprises 93 mineral claims covering a large carbonatite prospective for Rare Earth Elements (REE).
Carb Lake REE Project Geology
The Carb Lake REE project comprises a large, 2.5 to 3.0 km diameter circular magnetic anomaly known as the Carb Lake Carbonatite Complex prospective for Rare Earth Elements and Niobium. The Project area is located in north- western Ontario, 10km from the Manitoba border.
Historic Exploration
The Carb Lake Carbonatite Complex has had very limited modern exploration. Following the recognition of a large circular aeromagnetic anomaly in 1967, Big Nama Creek Mines Ltd conducted airborne magnetic and radiometric surveys in search of niobium. This was followed by drill testing the southern, predominantly more magnetic zones of the intrusive complex. Four diamond holes were completed for 564m, the only drilling ever completed over the Project.
The major lithology described from drill core is sövite, a coarse grained carbonatite rock, alternating with layers of silico-carbonatite. Samples were analysed for niobium, but no values were reported by Big Nama Creek Mines.
Further work was conducted in 1969 by the Ontario Department of Mines, Geological Survey which analysed for two rare earth elements, lanthanum (La), and cerium (Ce), as well as niobium (Nb). No other rare earth elements were assayed. Eighteen samples from DD003 and DD004 were analysed for trace elements and La, Ce, and Nb. Details of down hole sample locations were not reported. However, geochemical analysis of sövite returned up to 8% P2O5 probably associated with apatite and enriched in Nb up to 1500ppm and light REEs. The best results reported were from DD004, drilled into the centre of the carbonatite complex in an area of low magnetic intensity, with two samples reporting >5% Ce and >1% La.
In 1978 the Geological Survey recovered drill core from two of the holes (DD003 and DD004) and analysed a further 36 samples for major oxide and trace elements. Results returned up to 5,620ppm Ce with one sample returning a value of 7.1% Nb.
No other work was conducted until 2011 when South American Rare Earth Corporation (SAREC) conducted an airborne magnetic/radiometric survey and an enzyme leach geochemical survey over the complex.
The aeromagnetic image shows the variability in magnetic response across the carbonatite complex. The highest magnetic response (magenta) is across the southern portion of the carbonatite. The magnetics show partial ring structures around the centre of the carbonatite complex shown as green magnetic lows possibly representing multiple intrusive phases. SAREC collected a total of 275 surface samples, including 10 duplicate fields samples. The analytical results of this survey are to be acquired and their veracity assessed.
Forward Plan
Historical data is currently being sourced and compiled into a format that can be readily utilised. Upon completion of due diligence, full assessment of all available data and Cazaly’s decision to complete the acquisition, a field assessment will be conducted and follow up exploration activities will be prioritised.
We are extremely pleased to have acquired the Carb Lake Carbonatite Project. The carbonatite complex is of significant scale, situated below shallow cover and to date has flown under the radar and remains largely untested. This is despite excellent historical results which are certainly eye-catching in today’s market,” Managing Director, Tara French, said.
“The Project provides Cazaly with a unique opportunity to conduct exploration across a large scale carbonatite complex. This will mark the first modern exploration on this excellent REE target in over a decade.
“We will be working closely with our in-country technical team and look forward to exploring for REE’s which are some of the world’s most critical minerals required for decarbonisation.”