Murraydium REE Project
Project Highlights
- Targeting Ionic Clay hosted REE’s.
- Australian Rare Earths (ASX:AR3) have REE Resource at Koppamurra on neighbouring tenement.
- Koppamurra Resource and new AR3 prospect Frances hosted in the same Loxton Parilla Sands as present on Bordertown Block.
Background
The Murraydium Rare Earth Elements (REE) project occurs over 873 sq.km across four tenement blocks (EL6717) within the Murray Basin in Southeastern South Australia adjacent to the Australian Rare Earth’s (ASX:AR3) Koppamurra REE prospect.
AR3 has already established a JORC 2021 Inferred Mineral Resource of 81Mt @ 785ppm TREO at Red Tail and Yellow Tail. Recent drilling by AR3 confirms clay hosted rare earth mineralisation adjacent to the SRE Naracoorte Block with results including 2m @ 1008 ppm TREO. This demonstrates the potential of additional high-grade rare earth ionic clays of global significance across wide portions of the project area.
Ionic Clay REE deposits are relatively fast to drill and develop, with low capex, simple metallurgy and a high value REE offtake product. Rare earth elements are essential to the clean and technology revolutions taking place around the world, but China dominates their mining. Permanent magnet applications such as in electric vehicle and clean energy are the dominant demand drivers. Supply will struggle to keep up with the rapidly rising demand for critical magnet element such as Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy).
There are 17 rare earth elements: yttrium and scandium and the 15 lanthanide elements (cerium, dysprosium, erbium, europium, gadolinium, holmium, lanthanum, lutetium, neodymium, praseodymium, promethium, samarium, terbium, thulium and ytterbium). These are divided into two categories according to their atomic numbers: Light REEs and Heavy REEs. Light ones include cerium, lanthanum, neodymium, praseodymium, samarium and scandium. Heavy ones include yttrium, terbium and dysprosium.
The metals, which have exceptional magnetic and conductive properties, are critical components of more than 200 products across a wide range of applications including smartphones, computer hard drives, hybrid and electric
vehicles (EVs), solar panels and flat screen monitors and televisions. Significant defence applications include electronic displays, guidance systems, lasers, and radar and sonar systems.
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Koppamurra Mineral Resource Estimate – July 2022 |
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|---|---|---|---|---|---|---|---|---|---|---|---|
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|
Magnet Rare Earths |
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|
JORC |
Tonnes |
TREO |
Pr6O11 |
Nd2O3 |
Tb4O7 |
Dy2O3 |
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|
Category |
Mt |
ppm |
ppm |
% TREO |
ppm |
% TREO |
ppm |
% TREO |
ppm |
% TREO |
|
|
Indicated |
45 |
835 |
37 |
4.4 |
142 |
17 |
4 |
0.5 |
22 |
2.6 |
|
|
Inferred |
36 |
721 |
32 |
4.4 |
122 |
17 |
4 |
0.5 |
19 |
2.6 |
|
|
Total |
81 |
785 |
34 |
4.4 |
133 |
17 |
4 |
0.5 |
21 |
2.6 |
|
|
Exploration Target1 |
90-220 |
629-849 |
29-41 |
4.6-4.8 |
110-150 |
17-18 |
3-4 |
0.5-0.5 |
16-22 |
2.5-2.6 |
|
|
April 2021 Initial Resource |
|
||||||||||
|
Inferred |
39.9 |
725 |
32 |
4.4 |
124.6 |
17.2 |
3.5 |
0.5 |
19.2 |
2.6 |
|
Mineral Resources reported at a cut-off grade of 325 ppm TREO-CeO2, consistent with the previous MRE.
1 – The potential quantity and grade of the Exploration Target is conceptual in nature. Further exploration is required to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.