Resource Base Limited (ASX:RBX) in preparing to commence drilling at its 100% owned Mitre Hill Rare Earths project in southern Australia as planned next month.
With the continuing exploration success neighbouring tenement holders are experiencing, such as Australian Rare Earths located approximately 12km from Resource Base’s granted tenement EL007646, the company believes the Ionic Clay Rare Earth mineralisation that has been identified within the southern margin of the Murray Basin is potentially of significant regional scale with indications of an emerging Ionic Clay Rare Earths precinct.
RBX currently has one granted tenement and three applications within the southern margin of the Murray Basin in western Victoria and one application within the southern margin of the Murray Basin in south-eastern South Australia.
The areas targeted by these applications are considered by the company to have significant potential to host Ionic Clay Rare Earth mineralisation.
These tenements account for 1,509 sq. km in the emerging Ionic Clay Rare Earth precinct across south-eastern South Australia and western Victoria.
With the granted tenement EL007646 located approximately 12km from AR3 Red Tail and Yellow Tail JORC complaint Ionic Clay Rare Earths resources, the company believes it is strategically positioned to take advantage of the development in this region as its Ionic Clay Rare Earth potential unfolds.
Regional exploration by Australian Rare Earths has confirmed Ionic Clay Rare Earth mineralisation extends at least 40km north of the existing Red Tail and Yellow Tail mineral resource area and recent exploration undertaken by Lions Bay on the exploration licences (ELs) held by Savic Minerals Pty Ltd (Savic) shows further support for the company’s opinion that there is a potentially significant regional scale Ionic Clay Rare Earths precinct emerging in the southern margin of the Murray Basin.
Globally, Ionic Clay Rare Earth resources are most significant in southern China and are the world’s main source of Rare Earth Elements.
Rare Earth elements are positioned to play a critical role in the future of clean energy, with demand being driven by increasing levels of investment in Electric Vehicles (EV) and the decarbonisation of power generation.
Increasing geopolitical tensions and disrupted global supply chains has seen governments globally designate Rare Earths elements as critical minerals.
This demand is only set to increase as Countries introduce measures such as zero-emission vehicle mandates and carbon emission reduction targets. The company has a significant land holding in the southern margin of the Murray Basin and believes it is very well positioned to play a key role in the emerging Iconic Clay Rare Earths precinct that is potentially of global significance.
For further information please visit: http://www.resourcesbase.com.au/
