Torian Resources Limited’s (ASX: TNR) emergence as a major multi-commodity play is building momentum after new drilling results at its Mt Stirling Project in Western Australia confirmed the extensive presence of critical minerals cobalt and scandium.
The discovery was made at Yttria, the recently identified clean heavy rare earths elements (HREEs) prospect around 5km south of the company’s MS Viserion and Stirling Well gold deposits.
The first 30 auger vacuum drillholes at Yttria have identified the widespread occurrence of cobalt and scandium, in addition to confirming the presence of HREEs over an identified 1.1km strike of varying widths, up to 12m from surface.
Significant total rare earths and yttrium oxides (TREYO) plus scandium oxides (Sc2O3) intercepts include:
- 10m @ 743ppm TREYO + 70ppm Sc2O3 from 7m; inc 2m @ 1351ppm TREYO + 68ppm Sc2O3 from 9m; and 1m @ 1529ppm TREYO + 67ppm Sc2O3 from 10m (MSAVC0044)
- 12m @ 557ppm TREYO + 82ppm Sc2O3 from 8m; inc 1m @ 1335ppm TREYO + 66ppm Sc2O3 from 19m (MSAVC0005)
- 7m @ 646ppm TREYO + 65ppm Sc2O3 from surface; inc 2m @ 1082ppm TREYO + 63ppm Sc2O3 from 1m (MSAVC0007)
- 4m @ 790ppm TREYO + 63ppm Sc2O3 from 7m; inc 1m @ 1291ppm TREYO + 60ppm Sc2O3 from 9m (MSAVC0002)
- 4m @ 779ppm TREYO + 63ppm Sc2O3 from 6m; inc 1m @ 1346ppm TREYO + 58ppm Sc2O3 from 8m (MSAVC0003)
- 8m @ 425ppm TREYO + 69ppm Sc2O3 from 10m; inc 1m @ 724ppm TREYO + 78ppm Sc2O3 from 10m (MSAVC0023)
- 7m @ 538ppm TREYO + 70ppm Sc2O3 from 5m; inc 2m @ 737ppm TREYO + 69ppm Sc2O3 from 6m (MSAVC0025)
A high ratio of heavy rare earths to total rare earths (0.62 to 1 | ± 0.12) and a lack of radioactivity distinguish the company’s Yttria prospect which hosts all five of the most critical REEs: dysprosium, terbium, europium, neodymium and yttrium.
Torian’s Executive Chairman, Mr Paul Summers, said Torian had emerged this year as a multi-commodity explorer focused on gold, REEs, and now, critical minerals.
The sheer size and homogenous distribution of scandium and cobalt at our Yttria prospect is an exciting addition to our endowment of the five most-in-demand REEs,” Mr Summers said.
“An exceptionally high ratio of HREEs, a lack of processing nasties uranium and thorium, and the potential of a 3.6km continuous HREE corridor amenable to known extraction technologies combine to position Yttria as a significant discovery for Torian.”
In recognition of the company’s transformation, Mr Summers said a resolution to change the name of Torian Resources Limited to Asra Minerals Limited would be proposed at the company’s Annual General Meeting on Monday, 16 May 2022.
“Torian was known for just gold. Asra will be known for gold, clean heavy rare earths, and critical minerals. The company’s new ‘triple play’ focus deserves rebranding,” he said.
“We are excited by our new brand and are looking forward to launching our new website in the coming weeks.”
