Resource Base to commence drilling at Mitre Hill ionic clay rare earths project
An aircore rig has been mobilised to Resource Base’s Victorian project to drill a minimum of 36 holes.
Junior explorer Resource Base (ASX: RBX) has confirmed a drilling contractor has mobilised to the site of its wholly-owned Mitre Hill ionic clay rare earths project in Victoria.
The company has planned an aircore drilling program of a minimum 36 holes focusing on roadside reserves at an initial 500-metre spacing.
Drilling will be completed using a rubber-tacked aircore rig designed to create minimal ground disturbance and environmental impacts.
The work will signal the start of Resource Base’s assessment of the first tenement to be granted at Mitre Hill.
The tenement is located approximately 12 kilometres east of the Koppamurra project owned by Australian Rare Earths (ASX: AR3).
Koppamurra’s primary Red Tail and Yellow Tail deposits have a combined inferred mineral resource of 39.9 million tonnes at 725 parts per million total rare earth oxides (TREO).
Assay results are expected to be returned next month.
Significant land holding
Resource Base has a significant land holding in the Murray Basin and believes it is very well positioned to play a key role in the region’s ionic clay rare earths precinct which could potentially have global significance.
The company has 15 applications and one granted tenement along the southern margin of the basin in Victoria, and one application in a portion of the basin which extends into south-eastern South Australia.
Earlier this month, Resource Base announced moves to expand the footprint of the Mitre Hill project by submitting exploration licence applications for 12 more ionic clay rare earth element tenements totalling 1,140 sq km.
Regional exploration
Last month, Resource Base noted that Australian Rare Earths had completed regional exploration and confirmed ionic clay rare earth elements extend at least 40km north of Red Tail and Yellow Tail.
Additionally, exploration by Lions Bay Capital on Savic Minerals’ nearby tenements has identified the same mineralisation.
In January, Lions Bay revealed a highlight assay of 1m at 2,140ppm TREO, unearthed directly along strike of the Red Tail deposit.