Voltaic Strategic Resources has identified a sizeable potential carbonatite rare earth hosting intrusive system along strike of a 13km carbonatite target recently delineated by Kingfisher Mining (ASX:KFM), with about 8km of this falling within Voltaic’s Paddy’s Well expanded tenure in Western Australia’s Gascoyne.
The critical mineral explorer has expanded Paddy’s Well by around four and a half times its original area, sighting its high prospectivity for REEs and other critical minerals and identifying underlying major basement structures that could be the source conduits for mineralised fluids within the region.
Voltaic CEO Michael Walshe said the new tenure had had no prior exploration for REEs, giving us a ‘first mover’ advantage.
We are already seeing competition intensifying for the highly active Gascoyne region,” Mr Walshe said.
“From ground-truthing efforts, Voltaic hypothesises that the major basement structures exist at much shallower depths than currently mapped in the literature [Shepard et al. 2010],” he added.
“Hence, they are amenable to geophysical detection and detailed exploration and extraction.”
Rare Earth Elements Market
Increasing demand for rare earth elements across a wide range of industries is expected to support the long-term outlook for the market. With the looming spectre of a renewed U.S.-China trade war, the United States and European countries have invested in developing their rare earth supply chains, including expanding production capacities and investments into rare earth exploration companies domestically and abroad.
Industries including energy, healthcare, defence and aerospace, and electronics are responsible for the substantial market, particularly for rare earth magnets, which are expected to grow due to their high efficiency in producing clean energy. Additionally, rare earth compounds continue to be used in medical applications such as MRI imaging and military and aerospace applications such as guided missiles, sensors and avionics.
About Voltaic Strategic Resources
Voltaic Strategic Resources is a mineral exploration company that assembled a portfolio of exciting battery and precious metals exploration projects in the Gascoyne and Meekatharra regions of Western Australia (WA) and Nevada, USA. The company is led by an experienced corporate and technical team with demonstrable success with exploration IPOs, M&A, and assembling highly prospective tenure.
