iTech Minerals (ASX:ITM) Intersects High-Grade Rare Earth Mineralization at Caralue Bluff – The Market Herald

0

Subscribe

Be the first with news that moves the market

  • iTech Minerals (ITM) Intersects Thick, High-Grade Rare Earth Element (REE) Mineralization at the Caralue Bluff Prospect in South Australia
  • In April, a 478-hole drill program was completed on four prospects to test the potential for REE hosted in regolith and high-purity kaolin mineralization.
  • Up to 2050 parts per million total rare earth oxide have been intersected and rare earth mineralization at Caralue Bluff now extends over a 10 kilometer by nine kilometer area
  • Leaching is currently underway on 60 samples with results expected within the next four weeks and once results are received additional samples will be leached
  • iTech ended the day up 17.2% to close at 34 cents

iTech Minerals (ITM) has intersected thick, high-grade rare earth element (REE) mineralization at the Caralue Bluff prospect in South Australia.

In April, a 478-hole drill program was completed on four prospects to test the potential for regolith-hosted REE and high-purity kaolin mineralization.

The new results include 18 meters at 2050 parts per million (ppm) total rare earth oxide (TREO) from four meters, four meters at 1810 ppm TREO from 18 meters and 32 meters at 1223 ppm TREO from four meters.

Rare earth mineralization at Caralue Bluff now extends over a 10 kilometer by nine kilometer area, with the most significant results being encountered to the southeast of the prospect.

Of the 260 holes drilled at Caralue Bluff, results have been received for 130 and results from the remaining holes are expected before the end of the month.

“This batch of drill results show significant extension of rare earth mineralized clays to the southeast of the Caralue Bluff prospect, with additional infill results suggesting that the prospect is consistently mineralized over a large area.”

Leach testing is currently underway on 60 samples with results expected within the next four weeks and once results are received additional samples will be submitted for leaching testing.

iTech was up 17.2% in the market with shares trading at 34 cents at market close.


Source link

Share.

About Author

Comments are closed.