Resource Base begins step-out drilling after ‘significant’ REE discovery

Resource Base (ASX: RBX) has commenced step-out aircore drilling across tenement EL007646, within the Mitre Hill REE project, where widespread clay-hosted rare earth element (REE) mineralisation was recently identified.

Drilling will begin in the tenement’s northwest where higher-grade clay hosted REE mineralisation was intercepted and returned grades up to 1,421ppm total rare earth oxides (TREO) from 3m.

In this latest program, Resource Base will reduce the drill spacing as it seeks confirmation of thicker intervals of REE mineralisation, as has occurred on neighbouring projects. The drilling program is further progress towards allowing the company to define an initial REE JORC compliant resource.

Commenting on the previous drill results, Resource Base chairman and chief executive officer Shannon Green said the discovery of REE was a “significant milestone” for the company.

The strategic metals explorer is using its newly acquired aircore drill rig and will incorporate its in-field X-ray fluorescence (XRF) analyser, which will enable real time geological analysis and generate cost savings by reducing the volume of samples sent to the laboratory.

Moving forward, Mr Green says the rig will substantially reduce costs by reducing the volume of samples being sent to the laboratory as well as avoiding disruption to the drilling programs.

“It is fantastic to be back drilling again so quickly and using our own drill rig – putting us completely in charge of managing our business,” Mr Green said.

Aircore drilling

The grid-based aircore program will use hole spacing of 200m by 100m.

It will provide sample material for mineralogy and metallurgical test work, while also allowing for the extent of higher-grade mineralisation and variations in thickness to be better mapped.

In the initial drilling program, which prioritised broadly spaced roadside drilling, 70% of the 34 holes returned grades above 500ppm TREO.

Tenement EL007646 makes up only 28 square kilometres of Resource Base’s 2,600sq km land holding (granted and applied for).

The recent discovery of clay-hosted REE confirmed the potential for broader occurrence of this mineralisation style across the company’s tenements.

This is consistent with Resource Base’s geological hypothesis that underpinned its strategy to acquire such a significant scale landholding.