Mount Ridley Mines Limited (ASX: MRD) has commenced mineral resource drilling at the Mia and Marvin targets at its wholly-owned Mount Ridley REE Project, located approximately 50km north of the Port of Esperance in Western Australia’s south.
The Project covers an area of approximately 3,400sq. km.
“Within 12 months of our first REE drilling programme, the company has commenced mineral resource drilling at the Mia and Marvin targets, a contiguous trend of mineralization which is 30 kilometres long and four km wide,” Chairman, Peter Christie, said.
“These prospects were selected as our priority by using a number of criteria, including the potential for beneficiation, clay type, TREO grade, depth of cover and proportion of high value magnet rare earths.”
Assay results have now been received for 87 Air Core drill holes. Of these, 62 returned significant TREO (above 500ppm) mineralization which extended the size of previously identified prospects. Drilling was carried out along existing tracks which form a project-wide network, with drillholes spaced generally 400m apart.
Of note, MRAC1188 at the Mia Prospect returned 1.0m at 2.88% TREO in fresh granitic rock at the end of the drill hole. This is the highest-grade TREO intersection recorded to date. Additional holes have been drilled at this locality, and a petrographic study commenced, to determine whether this is an occurrence of primary mineralization.
Aircore drilling is advancing well along the contiguous Mia and Marvin geological units of felsic volcanic intrusives and metasediments. These are evident in aeromagnetic imagery for over 30km in length and three km in width.
Weathering of felsics has formed silica-kaolin saprolite, which may have similarities to REE deposits in China, Africa and elsewhere in Australia. The company is targeting high silica-kaolin saprolite specifically as this may beneficiate through simple screening.
For further information please visit: https://mtridleymines.com.au/
