Watch the latest Exploration Update with MD Mike Schwarz (5:21)
REE-Kaolin Exploration Target of 110 – 220 Mt @ 635 – 832 ppm TREO and 19-22% Al2O3 defined at Caralue Bluff
The Exploration Target is constrained by drill holes which contain both coincident high REE and high purity kaolin values
The Exploration Target is based solely on drilling and is open in multiple directions
REE mineralisation is rich in key magnet REE’s (Nd-Pr-Dy-Tb) averaging 25% of the REE basket
Average depth of 12m and thickness varies between 5-12m
iTech is pleased to release an Exploration Target of 110-220 Mt @ 635-832 ppm TREO and 19-22% Al2O3 for the Caralue Bluff REE-Kaolin Project. The Exploration target is based on 80 drill holes, from a total program of 260, across an area of approximately 12 km x 12 km. Importantly it remains open in multiple directions allowing for possible expansion in upcoming drill programs.
The company now eagerly awaits the results of its metallurgical test work program to determine whether the REEs are in an ionic and/or colloidal form and have the potential to be economically extracted. If metallurgical results are positive, a major drilling program is planned, post-harvest (December-January), to convert the Exploration Target to JORC resources.
Investors should be aware that the potential quantity and grade of the Exploration Targets reported are conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.