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Australian Critical Minerals Announce ‘Outstanding’ Shallow High-Grade REEs at Rankin Dome

4 December 2023 13:51
ASX: ACM
Feature

Australian Critical Minerals (ASX:ACM) has announced promising results from its maiden RC drilling program and high-definition shallow auger sampling program at the Rankin Dome Rare Earth Project, located near Southern Cross in the Yilgarn of Western Australia.

‘Outstanding’ Shallow High-Grade Results

The Company reported significant results from the Rankin Dome exploration with thick intrusive hosted rare earth mineralisation identified across the tenements.

All six of the planned RC drillholes have returned high-grade Total Rare Earth Oxides (TREO), with intervals above 1000ppm TREO, and several of the holes reportedly ended in mineralisation zones.

Highlights include:

  • Best individual intercept was 1 metre at 2534 ppm TREO within a near-surface interval of 5 metre at 1641ppm TREO in Hole RDRC001
  • Longest intercept of 111 metres at 979ppm TREO from 3 metres in RDRC006
  • Highest multiple-metre intercept of 3 metres at 2026 ppm TREO from 12 metres in RDRC001
  • Magnetic rare earths (Pr, Nd, Tb, Dy) comprised 20% to 26% of significant result intervals

The results reported to market from the six RC holes are as follows.

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Figure 1: Rankin Dom RC drilling program results

The Auger Anomaly

Australian Critical Minerals also reported the completion of a 254-hole high-definition auger sampling program, spanning over approximately 2.5 square kilometres at the Rankin Dome Project.

The program’s objective was to enhance geochemical definition in the area previously sampled by Kula Gold Limited, ACM’s joint venture, and to gain additional insights into the depth of the saprolite profile.

The results of the sampling have successfully identified a significant rare earth anomaly, clearly delineated, with auger values exceeding 500ppm TREO.

With confidence in the spatial definition of the anomaly, the Company is poised to initiate a new RC drilling program.

The Auger Anomaly, situated within a 500-metre by 200-metre zone showcasing strongly anomalous rare earth element geochemistry, recorded a peak TREO of 1297ppm.

The success of the program is underscored by ACM’s report, highlighting 258 samples collected at a 2-metre depth, with 132 exhibiting a higher TREO concentration surpassing 300ppm.

The Next Steps

Various samples were gathered throughout the RC and augur program, enabling Australian Critical Minerals to dispatch duplicate samples for metallurgical testwork.

The Company notes that the region between the RC drillholes and the notably anomalous auger holes spans approximately 2.8 square kilometres.

The drill fence outcomes from drillholes 1 to 4 suggest that the rare earth anomaly remains open to the west and north of the RDRC001 to 004 drill-fence.

Further investigation is warranted for drillholes RDRC005 and RD00g, with plans for follow-up drilling both north and south of these locations.

Future RC drilling is slated to expand the current coverage to the north and south, examining the TREO indicated by the auger sampling program within the expanded area covered by the auger program.

Company Comments

Australian Critical Minerals Managing Director Dean de Largie commented on the results released to market.

“These outstanding results from ACM’s maiden drilling program confirm the prospectivity on the Rankin Dome Project,” he said.

“Significantly the magnetic rare earths consistently make up 20% to 27% of the TREO intervals. The high-definition auger sampling brings great clarity to the NW sector. The substantial consistent strike lengths of highly anomalous near surface geochemistry in the auger area and consistent anomalous grades returned from the RC drilling is a significant result over a broad area and validates the approach taken by the Company,”

“We are continuing our exploration activity at Rankin Dome and look forward to keeping our shareholders updated with results as they are received.”

ACM’s Australian Stock Exchange-listed share price is currently trading at $0.150 (1.30pm UTC+ 8 hours).

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