Heavy Rare Earths Limited (ASX:HRE) has received promising assays from another 39 air core holes of the now completed 435-hole exploration and resource expansion drilling programme at its 100 per cent-owned Cowalinya rare earth project in the Norseman-Esperance region of Western Australia.
These latest assays, when combined with those from the first 53 holes demonstrate that coherent zones of saprolite-hosted rare earth mineralization are apparent up to 4.2 km away from the Cowalinya South deposit. The widest of these mineralized zones, now exceeds two kilometres, with mineralization open to the west of hole AC201.
The 11 consecutive 200 metre-spaced holes that define this zone contain eight mineralized intercepts where the grade-thickness exceeds the average grade- thickness of the mineralized horizon in the Cowalinya deposit (~9 metres thick @ 624 ppm TREO1).
A second zone of mineralization at least 600 metres wide is present on the same drill section and possibly represents part of an easterly/south-easterly extension to the Cowalinya South resource. Confirmation of this extension awaits assays from a number of holes north and south of AC178-AC181 and east of AC110-AC112.
Assays for the remaining 368 drillholes will be reported by the company as results are received.
Encouraged by the assays received to date, HRE has commenced preparing mineralized composites from 17 of the holes to add to its geo-metallurgical variability programme, for which initial positive results were reported in recent weeks from composites across the Cowalinya resource.
Acquisition of Exploration Tenements
HRE is pleased to advise of its acquisition of two granted exploration licences, E63/2144 and E63/2145, from Future Metals Group Pty. Ltd. These are located immediately south-west of and contiguous with its Cowalinya tenement E63/1972.
Their combined size is approximately 20 km2 (c.f., E63/1972 224 sq. km). Both tenements are on unallocated crown land and neither has been targeted for rare earths in previous exploration.
Drilling by HRE suggests there is strong potential for thick developments of saprolite-hosted rare earth mineralization to continue westwards from E63/1972 into E63/2144.
The company acquired both licences for a total of $50,000 in cash consideration.
For further information please visit: https://hreltd.com.au/
