Mount Ridley Mines (ASX: MRD) has identified a range of potential targets to drill at its expanding rare earth element (REE) and gallium projects in Western Australia.
New geophysical reinterpretation work across the Mount Ridley project near Esperance in the state’s south has uncovered multiple new corridors for potential resource growth.
Undertaken by Core Geophysics, the studies have also upgraded the company’s understanding of the geological controls related to the area’s REE and gallium mineralisation.
Early-Stage Drill Planning
The company is already undertaking early-stage drill planning with seven new high priority target zones located in a corridor approximately 33 kilometres in length.
The new studies have given the highest priority to a 12.8km long series of targets immediately east of Blocks 1 and 2, which host the project’s existing gallium resource.
The Block 1 area – also known as the “Central Zone” – has an inferred resource of 4,888 tonnes contained gallium, while Block 2 – known as the “Northern Extension” – has an inferred resource of 11,288t.
Some of the new targets have an identical gravity and magnetic signature to known resource areas, but have never been drill tested.
Key Geological Controls
“These results effectively validate our exploration approach and confirm that the geophysics is mapping the key geological controls that govern REE–Gallium enrichment at Mount Ridley,” non-executive director Pedro Kastellorizos said.
“The results clearly demonstrate that significant upside remains across Mt Ridley, and we look forward to advancing these targets through systematic drill testing."
Along with early-stage drill planning, Mount Ridley is also preparing future geophysical acquisition program design.
Earlier this month Mount Ridley took hold of the entirety of the Grass Patch Complex north of Esperance, one of Australia’s largest clay-hosted REE and gallium provinces.
The new applications extend the company’s ground position by a further 31km southwest of Block 1 and 15.6 km northeast of Block 2.
