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REE, RareX Limited
mullokintyre
post Posted: Nov 18 2020, 02:33 PM
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In Reply To: nipper's post @ Nov 18 2020, 01:07 PM

Thanks for this one Nip, added some as a speccy today.
Mick



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nipper
post Posted: Nov 18 2020, 01:07 PM
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RareX Limited (REE), formerly Sagon Resources Limited, is an ASX listed rare earths company focused on developing its 100% owned Cummins Range Project in Western Australia.

Other projects include the Trundle Project, Weld North Projects, Leogang Cobalt Gold Project and New South Wales JV Project.

Long an explorer of cluster of porphyry copper gold systems at the Trundle Gold Copper Project Joint Venture in NSW, the Cummins Range project is the main focus. As well, tenements pegged originally for rare earths potential at Byro East, WA, are to be explored for magmatic nickel copper PGE discoveries in ultramafic/mafic rocks similar to the recent Julimar discovery.

Recently raised $3million in a placement.

At Cummins Range, drilling has aimed to upgrade the current inferred resource of 13 million tonnes at 1.13% total rare earth oxides (TREO) with 22.1% neodymium /praseodymium, and to define a highgrade component. Results from 18 holes returned wide, bonanza grade results in the northwest and central portion of the deposit and showed the mineralisation thickens close to surface and to the east.

RareX managing director Jeremy Robinson said the program provides a strong foundation for the planned resource upgrade at Cummins Range:
QUOTE
The majority of results received to date have exceeded our expectations in terms of width and grade, giving us a high degree of confidence in the ability to define a solid high-grade component as part of the upgrade, he said. We are seeing much thicker zones in the central part of the deposit, while still achieving some really strong grades well above the average grade of the current inferred resource.
https://smallcaps.com.au/new-assays-high-gr...earths-project/



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