Resource Base reports rare earths mineralisation from step-out drilling at Mitre Hill
Resource Base现在拥有Murray Basin南缘最大的土地位置，占地 7,022 平方公里。
Step-out drilling at one of the tenements within the Mitre Hill project in Victoria’s Murray Basin has confirmed rare earths elements (REE) mineralisation for junior explorer Resource Base (ASX: RBX).
The company reported broad mineralisation from the first 56 aircore drill holes of a total 125 planned holes at tenement EL007646, with 53 holes (or 95%) intercepting clay-hosted REEs.
Mineralisation widths of up to 3m mostly commenced 3m below surface and concentrations of up to 1,397 parts per million total rare earth oxides were recorded.
The mineralisation is believed to be very shallow with an average depth of 5m to the upper boundary of an underlying limestone unit which is known to be widespread throughout the region.
The company said the results give its exploration team confidence in planning step-out drilling from broadly-spaced reconnaissance programs using easily-accessible roadsides.
Wider occurrence of REE
Executive chairman and chief executive officer Shannon Green said the latest results confirm the potential for a wider occurrence of REE across the Mitre Hill tenements and is consistent with the company’s geological hypothesis.
“The success of this drilling program has highlighted the consistency of mineralisation and confirms the potential for a broader occurrence at very shallow depths of clay-hosted REE,” he said.
“These results confirm that the exploration models used for planning our drill programs and the broader expansion of project tenement coverage are correct and likely to continue to identify mineralisation further afield across our remaining tenements.”
EL007646 represents less than 1% of the total landholding at Mitre Hill.
Mr Green said the drilling results show the project has the potential to yield scale.
Aircore drilling program
Resource Base has moved forward with a program of aircore drilling at its high-priority tenement EL007647, located close to and along strike from Australian Rare Earth’s (ASX: AR3) Red Tail and Yellow Tail clay-hosted REE deposits.
Initial broad-spaced drilling along existing road accesses is also being carried out.
Samples from the first 15 holes have been shipped to the laboratory for analysis with results expected during October.
Growing footprint in emerging REE precinct
The positive step-out drill results from EL007646 were followed with news Resource Base had further expanded the Mitre Hill project’s footprint.
Resource Base has submitted three more exploration licence applications totalling 1,021sq km in Victoria.
With these new licence applications, the Mitre Hill project now spans 7,022sq km.
Geological modelling indicates the new licence applications could be prospective for clay-hosted REE.
Resource Base now holds the largest land position in the southern margin of the Murray Basin.