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Pinnacle Minerals White Knight Project Yields High-Grade Rare Earth Oxide Assays

22 September 2023 14:34
ASX:PIM

Pinnacle Minerals Ltd (ASX:PIM) has achieved a significant rare earth element (REE) exploration breakthrough at its wholly owned White Knight Project in South Australia, with recent high-grade total rare earth oxides (TREO) assays, including over 20 per cent magnet rare earth oxides (MREO) in all intervals exceeding 500ppm in basement rocks.

Exploring the Data Goldmine

The Company commenced with a comprehensive review of historical data within the White Knight Project area, identifying several historical drill holes for further analysis.

Numerous holes yielded intervals surpassing 500ppm, with the highest recorded interval at 2,099 ppm TREO, containing 22% MREO, surpassing the industry benchmark of 20%

Key findings include:

  • 1,583 ppm TREO (22% MREO) over 5m (CUM55 34-39m)
    • Including 2,099 ppm TREO over 2m.
  • 1,008 ppm TREO (22% MREO) over 4m (CUM56 24-28m)
    • With 1,618 ppm TREO over 2m.
  • 624 ppm TREO (22% MREO) over 30m (L8 30-60m)

These results underline the geological potential of the White Knight Project and suggest promising rare earth mineralisation prospects in the region.

Unlocking the Potential of Weathered Bedrock

Making the findings more interesting, the assays were retrieved from strongly weathered basement rocks with historical records indicating the presence of orange, green, brown, and red clay horizons in these contexts, recognised for their suitability in hosting REEs.

Pinnacle Minerals anticipates even higher-grade TREO mineralisation within these clay horizons, known as saprolite, where REE concentrations often occur.

Proximity to High-Grade REE Discoveries

Spanning 1,051 square kilometres on the Eyre Peninsula’s western side, the White Knight Project strategically neighbours high-grade mineral projects, including Andromeda Metals‘ (ASX:ADN) Mount Hope Kaolin Project, Oar Resources‘ (OAR:ASX) Gibraltar Kaolin-Halloysite Project, and Power Minerals‘ (ASX:PNN) recently unveiled high-grade rare-earth drill intercepts at Yeelanna.

Both sets of findings are in close proximity to outcrops of the REE-enriched Peter Pan Supersuite and Moody Suite Granites, believed to be the source rocks for REE-enriched clays.

The Path Forward

The Company now plans to vigorously advance its rare earth exploration, revisiting unsampled historical holes in EL 6790 and EL 6791, initiating targeted soil sampling for drilling, and maintaining robust community engagement for securing landholder access agreements, all pivotal in uncovering the region’s rare earth potential.

Pinnacle Minerals Managing Director, Nic Matich, expressed his optimism in the results released to market today.

“These assay results are a substantial step forward in identifying potential high-grade clay-hosted rare earth mineralisation,” he said.

“TREO grades of this magnitude within weathered bedrock are a very positive sign that there may exist clay horizons where REE mineralisation concentration exceeds those currently assayed.”

PIM’s Australian Stock Exchange-listed share price is currently trading at $0.09 (2:30pm UTC+ 8 hours).

 

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