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Matilda South Drilling Yields Elevated REE Values

28 April 2023 11:03
ASX: DUN
Aerial view of Dundas Minerals Limited landscape

Dundas Minerals (ASX: DUN) continues to progress exploration in Western Australia’s highly prospective southern Albany-Fraser Orogen region following the successful completion of its Northwest soil sampling program and elevated Rare Earth Element (REE) values reported in Matilda South drilling results.

Elevated Rare Earth Element Values Discovered in Matilda South Drilling Program

Drilling at Matilda South wrapped up in early March and aimed to explore targets identified through audio-magnetotellurics (AMT) surveys, specifically a WNW – ESE trending moderately to low resistivity AMT anomaly believed to represent a possible fault structure associated with REE-mineralised rock types.

Of particular interest is the 3m interval from hole 23MSRC002, which returned total rare earth oxides (TREOs) of 858ppm comprising 44% magnetic rare earth oxides (MREO) and 48% critical rare earth oxides (CREO). Additionally, a 2m interval of 1,164ppm TREO was returned in this hole, comprising 25% MREO and 13% CREO.wa

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(Matilda South actual drill hole locations on a Bouguer gravity anomaly image (colour). The background is a grey-scale second vertical derivative magnetic image.)

While originally targeting nickel, copper and gold, the return of Elevated Rare Earth Values provides an intriguing new opportunity for the project, with the Company now considering opportunities that may present themselves due to the unexpected and encouraging TREO assay results.

Northwest Soil Sampling Program Completed Ahead of Schedule

In addition to these developments, Dundas Minerals has also completed a comprehensive soil sampling program in the northwest area of its Dundas project tenements.

Designed to identify areas within sample grids where assays from samples return elevated levels of minerals such as nickel, copper, or gold, that could indicate potential subsurface deposits which may warrant further exploratory work.

Completed ahead of schedule, the program aims to provide valuable insights about regional metal distributions when assay results become available in the latter half of June 2023.

DUN’s Australian Stock Exchange-listed share price is trading at 14c (10.15 am UTC+ 8 hours).

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