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RAREX LIMITED — Capital/Financing Update 2024
May 22, 2024
65681_rns_2024-05-22_a928dc16-b527-42ff-982d-321e8a974abc.pdf
Capital/Financing Update
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ASX Release 23 May 2024
RareX acquires district-scale niobium project in the East Yilgarn, WA Historical drilling shows elevated niobium assays across an extensive, newly-discovered system. Completion of successful A$1.5M, internally brokered, capital raise.
Engage with this announcement at the RareX investor hub .
Highlights
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Six tenements acquired unconditionally (one granted, five pending), totalling 966km[2] over the AlbanyFraser Orogen in the Eastern Yilgarn region:
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The new Khaleesi Project is located along strike from highly-endowed Ponton Dyke (which has returned some of Australia’s best rare earth intersections), the Cundeelee carbonatite and the world-class Tropicana Gold mine.
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Half of the holes were not assayed for niobium or rare earths - historical exploration focused on gold:
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Data from +10,000m of shallow drilling indicates the potential for niobium-enriched carbonatite(s) on the Project, which form part of a wider alkaline intrusion system.
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Evidence from the 50% of holes assayed for niobium shows broad areas of elevated niobium (up to +1,000ppm ).
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Due diligence conducted on expansive existing data sets including geophysical assessments by independent experts Resource Potential (ResPot):
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Detailed gravity and magnetics indicate the discovery of a large 20km diameter alkaline intrusive complex within the Project, with the same age profile as Mt Weld (Lynas) and the Ponton Dyke.
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Project area is a favourable region for niobium-rare earth-carbonatite intrusions under little to no cover.
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Rapid exploration program planned targeting areas of elevated niobium within the Project area.
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Favourable acquisition terms : A$100k cash consideration, 9,816,406 ordinary shares (c. A$137k at 0.014), escrowed for 6-months, and a 2% royalty over three of the six tenements with buy-back options.
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A$1.5M self-brokered raise completed with existing shareholders and Director support at parity with previous market close – no discount, no options, 62% to existing shareholders.
RareX Limited (ASX: REE – RareX or the Company ) is pleased to announce the acquisition of a large, districtscale, niobium-rare earth project in the East Yilgarn, 290km east-northeast of Kalgoorlie in Western Australia.
The acquisition supports RareX’s goal of becoming a leading critical metals company with the future development of its 100%-owned Cummins Range, carbonatite-hosted, Rare Earths and Phosphate Project and a strong focus on continuing to discover major new carbonatite-hosted mineral deposits utilising internallyfostered expertise.
| For more information, | Investors: James Durrant,CEO | P+61 (0) 8 | 6383 6593 |
|---|---|---|---|
| please contact: | Media: Nicholas Read,Read Corporate | P+61 (0) 8 | 9388 1474 |
| Corporate Advisers: Wallabi Group | P+61 (0) 407 926 869 | ||
| Engage and Contribute:Investor Hub | Wree.investorhub.com/welcome | ||
| RareX Limited | RareX HQ P+61 (0) 8 6383 6593 |
RareX Limited (ASX:REE) |
|
| ASX:REE | Level 1, 338 Barker Road E[email protected] |
@rarex_asx | |
| ABN: 65 105 578 756 | Subiaco WA 6008 ree.investorhub.com/welcome |
||
| Australia rarex.com.au |
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RareX CEO, James Durrant, said: “This acquisition is tremendously exciting for us. The new Khaleesi Project is well endowed with geological data from large-company programmes that were mainly gold-focused and never properly tested or evaluated the extensive niobium anomalies and rare earth potential. Through our due diligence we’ve identified the opportunity for a district-scale niobium project and will immediately commence a highly targeted exploration program.”
Investor Webinar
RareX invites investors to participate, by submitting questions, in an investor webinar featuring RareX CEO, James Durrant, which will be made available at 11:30am AEDT on Thursday, 30 May 2024. The investor webinar will consist of a short presentation focused on the acquisition of the Khaleesi Project, followed by a Q&A at the end of the webinar.
Questions are encouraged to be submitted in advance via the RareX investor hub .
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx ree.investorhub.com/welcome rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
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Khaleesi Project
The Khaleesi Project is located adjacent to the Mulga Rocks deposits - owned by Deep Yellow (Narnoo Mining) - on the transition of the Yilgarn Craton to the Albany-Fraser Belt, specifically in the Northern Foreland Unit. It is located proximal to RareX’s Red Dragon project, 50km to the north.
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Kahleesi
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Figure 1 - Khaleesi Project location on TMI magnetics image.
Geology and Prospectivity
The Khaleesi Project sits on the Northern Foreland unit of the Albany Fraser Belt and is a portion of the Yilgarn Craton that was intruded by Paleoproterozoic magmatic rocks and reworked during the Mesoproterozoic Albany–Fraser Orogeny. The tenements also contain the eastern boundary of the Canning Basin with the Mulga Rocks East uranium and rare earths deposits abutting the tenement boundary.
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) Level 1, 338 Barker Road E [email protected] @rarex_asx Subiaco WA 6008 ree.investorhub.com/welcome Australia rarex.com.au
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The eastern margin of the Yilgarn Craton hosts significant alkaline intrusions particularly along strike in the Queen Victoria Spring nature reserve 5km to the south. The nature reserve hosts the largest carbonatite pipe in Australia, the 10km diameter Cundeelee carbonatite, described by BHP in 1998 as the “largest, effectively untested carbonatite in the world”[1]
Also within the nature reserve is the strongly rare earth mineralised Ponton Dyke with intersections up to 28m at 10% TREO, including 6m at 20.57% TREO[2] . Although un-mineable due to the nature reserve, these deposits show the highly metaliferous nature and prospectivity of the alkaline intrusions of this area.
The Tropicana Gold Mine (AngloGold Ashanti 70%, Regis Resources 30%) is located 100km to the northeast and sits along the same structural trend.
Historically, Anglo Gold Ashanti, Fortescue and IGO have explored the Khaleesi Project with a narrow focus on gold-nickel-copper, and crucially completed a number of multi-element 4-Acid digest assays, including for elements niobium (Nb), yttrium (Y) and europium (Eu).
These assays have confirmed large areas (many square kilometres) of elevated niobium in saprock and fresh rock up to 30 times the background values of 20ppm and over multiple locations. This suggests tremendous opportunities to discover significant niobium and rare earths mineralisation across the holding.
1 BHP Minerals Pty Ltd, 1998, Mineral Exploration Report A56942, https://wamex.dmp.wa.gov.au/Wamex/Search/Reports#.
2 Galaxy Resources ASX announcement: 11 January 2011, Galaxy Completes review of Ponton North Rare Earths Project, https://announcements.asx.com.au/asxpdf/20110111/pdf/41w3wlq3fcr0vh.pdf.
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx ree.investorhub.com/welcome rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
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Figure 2 – Geological map of the Khaleesi Project with TMI magnetics background.
Alkaline Intrusive Complex Discovery
Upon re-analysis of the historical drill data, coupled with detailed assessment of the geophysics, a never-beforeidentified alkaline intrusion complex has been revealed. The complex is 20km in diameter and the western half has been faulted off and is likely below the Canning Basin under the Mulga Rocks uranium-rare earth deposits.
Geophysics consultants, Resource Potentials - who are credited with locating the Luni geophysics anomaly owned by WA1, which has become a significant niobium discovery in the West Arunta region of central Australia - identified possible ring dyke structures on the north-eastern edge of the complex and multiple circular bodies within the complex that may represent various fractionated melts.
RareX HQ P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) Level 1, 338 Barker Road E [email protected] @rarex_asx Subiaco WA 6008 ree.investorhub.com/welcome Australia rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
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Figure 3 – RareX has discovered a new alkaline igneous complex.
In addition to the geophysical signatures, the geochemistry provides conclusive evidence of the presence of the alkaline intrusion, which has now been named the Khaleesi Alkaline Intrusion Complex.
Mineral deposits that form in alkaline intrusion-related mineral systems are quite diverse, ranging from diamonds, through rare earths-phosphorous-uranium, to nickel-copper-platinum group elements and gold deposits. Importantly, these deposits contain a large number of critical commodities, including niobium, rare earths, platinum group elements, nickel, copper, scandium, flourine, phosphorus, and hafnium. Primary economic deposits of niobium are associated principally with carbonatites found in diverse types of plutonic alkaline rock complexes.
RareX HQ P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) Level 1, 338 Barker Road E [email protected] @rarex_asx Subiaco WA 6008 ree.investorhub.com/welcome Australia rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
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Targets
Two targets stand out for initial exploration; the Luchini and the Niobe targets.
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Figures 4 and 4 – Maximum values of Nb and Y for historical drilling on the Niobe and Luchini targets. Drill holes that were not assayed with 4-Acid digest methods are not displayed. Background ThKU radiometrics on magnetics. Green is thorium, blue is uranium and red is potassium.
The Luchini target on tenement E39/2410 occurs in an area subject to detailed gold exploration including 10,000m of drilling by Anglo Gold Ashanti in 2006-2014. A portion of the assays were analysed using the 4-Acid digest method. Many of the drill holes in the southern portion of this prospect showed highly elevated niobium through the regolith and into the saprock. The anomalous niobium is coincident with a uranium anomaly identified by radiometric survey data.
The Niobe target on tenement E39/2409 comprises two drill lines, approximately 2km apart, on either side of a magnetic low and coincident with a 4km x 0.5km vegetation and thorium radiometric anomaly. The drill holes were assayed with 4-Acid digest and showed elevated niobium-rare earth results in the regolith and saprock.
Access and Infrastructure
Access to the project is by road from Kalgoorlie to Deep Yellow’s Mulga Rocks project then on to the Khaleesi Project. A network of access tracks allows for ease of traversing the site. An access agreement is being negotiated with Deep Yellow and will include consideration for the sandhill dunnart conservation area which is obliged to provide monitoring of dunnart activity.
The Project is proximate to key infrastructure including an airfield at the Deep Yellow Project (24 km to the Luchini Niobium target area) and the Eastern Goldfields Pipeline (80 km to the Luchini Niobium target area).
RareX HQ P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) Level 1, 338 Barker Road E [email protected] @rarex_asx Subiaco WA 6008 ree.investorhub.com/welcome Australia rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
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The whole of the Khaleesi Project exists in the Upurli Upurli Nguratja exclusive Native Title determination area. Although no objection was received by the native title parties for western tenements, RareX will negotiate an exploration heritage access agreement to ensure good relations are established and fostered with the Native Title holders.
Exploration Plan
Indicative timeline for the exploration of the Khaleesi Project:
FY24Q4
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Access agreements
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Full-scale desktop data analysis
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Field survey, mapping and sampling
FY25Q1
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Detailed geophysics
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Drill target generation
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Drill program preparation - including camp preparation and permits
FY25Q2
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10,000m 2-drill program
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Assays
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Geological modelling
Khaleesi Tenement Package
Six tenements comprise the Khaleesi Project.
| Number | Status | Targets |
|---|---|---|
| E39/2410 | Pending | Hosts the Luchini target with elevated niobium values assayed up to +1000ppm on uranium radiometric anomaly. |
| E39/2415 | Pending | - |
| E39/2409 | Granted | Hosts the Niobe target with elevated magnetics surrounding magnetic low containing large vegetation-thorium radiometric anomaly. |
| E39/2470 (E39/2496) |
Pending | Hosts the Rising Dragon copper-nickel gabbro with disseminated copper-nickel sulphides |
| E39/2494 | Pending | Along strike extensions of the alkaline intrusion complex |
| E39/2495 | Pending | - |
| RareX Limited | RareX HQ | P+61 (0) 8 6383 6593 | RareX Limited (ASX:REE) | RareX Limited (ASX:REE) |
|---|---|---|---|---|
| ASX:REE | Level 1, 338 Barker Road | E[email protected] | @rarex_asx | |
| ABN: 65 105 578 756 | Subiaco WA 6008 | ree.investorhub.com/welcome | ||
| Australia | rarex.com.au |
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Niobium – The Super Alloying Metal
Niobium, a transition metal, is often classified in the broader spectrum of rare earth metals and is present in a variety of minerals, of which pyrochlore is the primary source of niobium for commercial processing plants. Niobium-rich pyrochlore deposits are commonly found in carbonatite intrusions. Hence pyrochlore in carbonatites plays a pivotal role in supplying niobium for diverse applications, making it a critical mineral in modern technology and industry.
The primary niobium product is ferroniobium (FeNb, 65% Nb), which accounted for 88% of global production in 2022. Niobium pentoxide (Nb2O5) constitutes the remaining 12% of global niobium production. Ferroniobium offers extra strength and greater resistance to heat and corrosion, hence it is primarily used in the production of high strength low alloy (HSLA) steel for applications in construction, automotive, oil and gas pipelines. Niobium pentoxide produced by further refining of ferroniobium is used in advanced technologies such as superconducting magnets, capacitors and batteries.
The global niobium market is expecting a steady growth, driven by increasing demand from the steel industry and advancements in automotive sector as well as rising aerospace and battery applications. Further market growth opportunities present from renewable energy, electric vehicles, infrastructure development, electronic and consumer goods.
Currently, the European Union (EU) and a further seven countries, including Australia and Canada, classify niobium on their critical minerals list due to both the importance of the metal in modern manufacturing and electronics, but also because of the supply chain concentration, currently dominated by two companies in Brazil with significant Chinese control.
Key Acquisition Details
RareX has entered into binding agreements with each of Beau Resources Pty Ltd and Sustainable Minerals Pty Ltd with key terms as set out below. The agreements otherwise contains terms and conditions considered customary for such transactions. The vendors are not related parties of the Company.
The transactions have been funded from existing working capital and the shares will be issued under the Company’s capacity under Listing Rule 7.1.
| Number | Status | Vendor | Key terms |
|---|---|---|---|
| E39/2410 E39/2415 E39/2409 |
Pending Pending Granted |
Beau Resources Pty Ltd |
Tenement sale agreement: • A$75k cash • 4,687,500 shares subject to 6 months voluntary escrow • 2% royalty • 1% royalty buy-back for A$1m • Remaining royalty buy-back at market price |
| E39/2470 (E39/2496) |
Pending | Sustainable Minerals Pty Ltd |
Agreement for Sustainable Minerals Pty Ltd to withdraw their application E39/2470 leaving RareX’s application first in line: • A$25k cash • 5,128,906 shares subject to 6 months voluntary escrow |
The Company has also applied for two additional tenements, E39/2494 and E39/2595, at the Khaleesi Project.
RareX HQ P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) Level 1, 338 Barker Road E [email protected] @rarex_asx Subiaco WA 6008 ree.investorhub.com/welcome Australia rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
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Capital Raise
The Company has received firm commitments to raise A$1.5 million (before costs) in a placement to professional and sophisticated investors, both existing (61%) and new shareholders (39%). A total of 107,142,857 shares will be issued at $0.014 each ( New Shares ) representing zero discount to the closing price of the Company’s shares on 20 May 2024 ( Placement ). Directors are collectively subscribing for A$150,000 worth of the New Shares, subject to shareholder approval ( Director Placement ).
The Placement will be undertaken in two tranches. 96,428,571 shares will be issued under the Company’s existing placement capacity under ASX Listing Rules 7.1 (28,089,914) and 7.1A (68,338,657) and are expected to commence trading on Friday, 31 May 2024.
The Company will seek shareholder approval for the issue of 10,714,286 shares under the second tranche to Director (and/or their nominees) at a meeting to be convened in due course.
All shares will rank equally with the Company’s existing shares on issue. Further details are set out in the Appendices 3B accompanying this announcement.
Use of Funds
Funds raised under the Placements are proposed to be applied towards funding exploration and development of the Khaleesi Project, the Company’s Cummins Range Project and for general working capital purposes.
Post completion of the Placements the Company will have cash of approximately $2.3 million and investments of approximately $2.76 million and will be well funded to undertake its planned programs.
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx ree.investorhub.com/welcome rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
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This announcement has been authorised for release by the Board of the Company.
The Company is not aware of any reason why the ASX would not allow trading in the Company’s securities to recommence immediately.
Competent Person’s Statement
The information in this report that related to Exploration Results is based on, and fairly reflects, information reviewed and compiled by Mr Guy Moulang. Mr Guy Moulang is a full-time employee of RareX Limited and is a Member of the Australian Institute of Geoscientists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Guy Moulang consents to the disclosure of the information in this report in the form and context in which it appears.
About RareX Limited – ASX: REE
RareX is a critical minerals company specialising in rare earths and niobium in hard rock carbonatites.
The exploration focus of the business is on the new Khaleesi Project in the East Yilgarn which is a district-scale, elevated-niobium, alkaline intrusive complex - a breeding ground for mineralised carbonatites. Data from Tier-1 exploration programs with elevated niobium values suggests a highly fertile system.
The Company’s engineering and commercial focus is on offtake and approvals at the mid-study-level, Cummins Range Project (+$330M NPV8 post-tax*) - a carbonatite hosted rare earth and phosphate project, containing magnet grade rare earths and battery grade phosphates and technically Australia’s largest undeveloped rare earths project.
RareX have been curating a portfolio of carbonatite related prospects within which the newly acquired Khaleesi Project represents the exploration flagship. RareX will continue to develop and optimise its portfolio.
RareX maintains material investments in Kincora Copper (ASX:KCC), Cosmos Exploration (ASX:C1X) and Canada Rare Earth Corporation (LL.V).
For further information on the Company and its projects visit www.rarex.com.au
- The forecast financial information was released on 22 August 2023. The Company confirms that the material assumptions underpinning the production target and forecast financial information continue to apply and have not materially changed
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) Level 1, 338 Barker Road E [email protected] @rarex_asx Subiaco WA 6008 W ree.investorhub.com/welcome Australia rarex.com.au
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Appendix 1: Drill Collar Details and Maximum Nb, Au and Y Assays
| Tenement | Prospect | Hole_ID | Max Depth (m) |
Drill Type | MGA East |
MGA North |
A number |
Nb ppm |
Au ppb |
Y ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| E39/2410 | Luchini | GTA214 | 27 | Air Core | 601242 | 6686977 | 105660 | - | 4 | - |
| E39/2410 | Luchini | GTA215 | 14 | Air Core | 600797 | 6687046 | 105660 | - | 13 | - |
| E39/2410 | Luchini | GTA216 | 25 | Air Core | 600237 | 6687111 | 105660 | - | 2 | - |
| E39/2410 | Luchini | GTA217 | 42 | Air Core | 599753 | 6687265 | 105660 | - | 5 | - |
| E39/2410 | Luchini | GTA218 | 61 | Air Core | 600261 | 6685760 | 105660 | - | 3 | - |
| E39/2410 | Luchini | GTA219 | 21 | Air Core | 600692 | 6685996 | 105660 | - | 2 | - |
| E39/2410 | Luchini | GTA220 | 27 | Air Core | 601143 | 6686030 | 105660 | - | <1 | - |
| E39/2410 | Luchini | LCA001 | 26 | Air Core | 597594 | 6688107 | 105660 | - | 18 | - |
| E39/2410 | Luchini | LCA002 | 32 | Air Core | 597697 | 6688086 | 105660 | - | 18 | - |
| E39/2410 | Luchini | LCA003 | 31 | Air Core | 597801 | 6688060 | 105660 | - | 2 | - |
| E39/2410 | Luchini | LCA004 | 22 | Air Core | 597896 | 6688055 | 105660 | - | 15 | - |
| E39/2410 | Luchini | LCA005 | 21 | Air Core | 597995 | 6688031 | 105660 | - | 3 | - |
| E39/2410 | Luchini | LCA006 | 29 | Air Core | 598094 | 6688004 | 105660 | - | 3 | - |
| E39/2410 | Luchini | LCA007 | 33 | Air Core | 598185 | 6687972 | 105660 | - | 7 | - |
| E39/2410 | Luchini | LCA008 | 27 | Air Core | 598305 | 6687946 | 105660 | - | 5 | - |
| E39/2410 | Luchini | LCA009 | 20 | Air Core | 597730 | 6687616 | 105660 | - | 3 | - |
| E39/2410 | Luchini | LCA010 | 36 | Air Core | 597835 | 6687601 | 105660 | - | 9 | - |
| E39/2410 | Luchini | LCA011 | 29 | Air Core | 597934 | 6687585 | 105660 | - | 6 | - |
| E39/2410 | Luchini | LCA012 | 36 | Air Core | 598029 | 6687554 | 105660 | - | 19 | - |
| E39/2410 | Luchini | LCA013 | 43 | Air Core | 598126 | 6687531 | 105660 | - | 19 | - |
| E39/2410 | Luchini | LCA014 | 30 | Air Core | 598219 | 6687501 | 105660 | - | 7 | - |
| E39/2410 | Luchini | LCA015 | 39 | Air Core | 598320 | 6687487 | 105660 | 71.6 | 11282 | 843.4 |
| E39/2410 | Luchini | LCA016 | 30 | Air Core | 597147 | 6687579 | 105660 | - | 8 | - |
| E39/2410 | Luchini | LCA017 | 26 | Air Core | 597228 | 6687541 | 105660 | - | 3 | - |
| E39/2410 | Luchini | LCA018 | 26 | Air Core | 597334 | 6687515 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA019 | 28 | Air Core | 597432 | 6687497 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA020 | 32 | Air Core | 597510 | 6687409 | 105660 | - | 23 | - |
| E39/2410 | Luchini | LCA021 | 28 | Air Core | 597617 | 6687365 | 105660 | - | 14 | - |
| E39/2410 | Luchini | LCA022 | 21 | Air Core | 597705 | 6687380 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA023 | 29 | Air Core | 596887 | 6687308 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA024 | 38 | Air Core | 596986 | 6687295 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA025 | 48 | Air Core | 597088 | 6687275 | 105660 | - | 6 | - |
| E39/2410 | Luchini | LCA026 | 45 | Air Core | 597167 | 6687261 | 105660 | 3.3 | 410 | 94.3 |
| E39/2410 | Luchini | LCA027 | 28 | Air Core | 597299 | 6687239 | 105660 | - | 9 | - |
| E39/2410 | Luchini | LCA028 | 28 | Air Core | 597383 | 6687215 | 105660 | - | 23 | - |
| E39/2410 | Luchini | LCA029 | 23 | Air Core | 597482 | 6687198 | 105660 | - | 23 | - |
| E39/2410 | Luchini | LCA030 | 45 | Air Core | 597576 | 6687181 | 105660 | - | 17 | - |
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P +61 (0) 8 6383 6593 E [email protected] W ree.investorhub.com/welcome rarex.com.au
RareX Limited (ASX:REE) @rarex_asx
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
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| Tenement | Prospect | Hole_ID | Max Depth (m) |
Drill Type | MGA East |
MGA North |
A number |
Nb ppm |
Au ppb |
Y ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| E39/2410 | Luchini | LCA031 | 25 | Air Core | 597676 | 6687165 | 105660 | - | 9 | - |
| E39/2410 | Luchini | LCA032 | 39 | Air Core | 598210 | 6686760 | 105660 | - | 7 | - |
| E39/2410 | Luchini | LCA033 | 31 | Air Core | 598310 | 6686760 | 105660 | - | 5 | - |
| E39/2410 | Luchini | LCA034 | 26 | Air Core | 598410 | 6686755 | 105660 | - | 19 | - |
| E39/2410 | Luchini | LCA035 | 35 | Air Core | 598510 | 6686755 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA036 | 41 | Air Core | 598610 | 6686750 | 105660 | 74.4 | 171 | 106.7 |
| E39/2410 | Luchini | LCA037 | 51 | Air Core | 598710 | 6686750 | 105660 | - | 7 | - |
| E39/2410 | Luchini | LCA038 | 55 | Air Core | 598810 | 6686750 | 105660 | - | 3 | - |
| E39/2410 | Luchini | LCA039 | 33 | Air Core | 598910 | 6686745 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA040 | 41 | Air Core | 599010 | 6686745 | 105660 | - | 5 | - |
| E39/2410 | Luchini | LCA041 | 51 | Air Core | 599105 | 6686740 | 105660 | - | 6 | - |
| E39/2410 | Luchini | LCA042 | 51 | Air Core | 599205 | 6686740 | 105660 | - | 3 | - |
| E39/2410 | Luchini | LCA043 | 57 | Air Core | 599305 | 6686740 | 105660 | - | 11 | - |
| E39/2410 | Luchini | LCA044 | 60 | Air Core | 599410 | 6686745 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA045 | 29 | Air Core | 599515 | 6686755 | 105660 | - | 12 | - |
| E39/2410 | Luchini | LCA046 | 30 | Air Core | 599615 | 6686755 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA047 | 27 | Air Core | 599715 | 6686755 | 105660 | - | 15 | - |
| E39/2410 | Luchini | LCA048 | 30 | Air Core | 599815 | 6686750 | 105660 | - | 6 | - |
| E39/2410 | Luchini | LCA049 | 56 | Air Core | 597885 | 6686175 | 105660 | - | 34 | - |
| E39/2410 | Luchini | LCA050 | 45 | Air Core | 597985 | 6686175 | 105660 | - | 25 | - |
| E39/2410 | Luchini | LCA051 | 48 | Air Core | 598085 | 6686170 | 105660 | - | 10 | - |
| E39/2410 | Luchini | LCA052 | 46 | Air Core | 598185 | 6686170 | 105660 | - | 14 | - |
| E39/2410 | Luchini | LCA053 | 42 | Air Core | 598285 | 6686165 | 105660 | - | 18 | - |
| E39/2410 | Luchini | LCA054 | 43 | Air Core | 598385 | 6686165 | 105660 | - | 9 | - |
| E39/2410 | Luchini | LCA055 | 32 | Air Core | 598479 | 6686170 | 105660 | - | 22 | - |
| E39/2410 | Luchini | LCA056 | 42 | Air Core | 598583 | 6686167 | 105660 | - | 25 | - |
| E39/2410 | Luchini | LCA057 | 36 | Air Core | 598689 | 6686165 | 105660 | - | 7 | - |
| E39/2410 | Luchini | LCA058 | 48 | Air Core | 598789 | 6686159 | 105660 | 71.9 | 4614 | 33.4 |
| E39/2410 | Luchini | LCA059 | 38 | Air Core | 596095 | 6685445 | 105664 | - | 7 | - |
| E39/2410 | Luchini | LCA060 | 54 | Air Core | 596295 | 6685425 | 105664 | - | 3 | - |
| E39/2410 | Luchini | LCA061 | 32 | Air Core | 596495 | 6685415 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA062 | 21 | Air Core | 596670 | 6685335 | 105660 | - | 9 | - |
| E39/2410 | Luchini | LCA063 | 25 | Air Core | 596885 | 6685305 | 105660 | - | 35 | - |
| E39/2410 | Luchini | LCA064 | 46 | Air Core | 597055 | 6685300 | 105660 | - | 8 | - |
| E39/2410 | Luchini | LCA065 | 48 | Air Core | 597280 | 6685265 | 105660 | - | 10 | - |
| E39/2410 | Luchini | LCA066 | 70 | Air Core | 597490 | 6685315 | 105660 | - | 17 | - |
| E39/2410 | Luchini | LCA067 | 38 | Air Core | 597330 | 6684965 | 105660 | - | 12 | - |
| E39/2410 | Luchini | LCA068 | 55 | Air Core | 597530 | 6684965 | 105660 | - | 12 | - |
| E39/2410 | Luchini | LCA069 | 42 | Air Core | 597730 | 6684965 | 105660 | - | 92 | - |
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx W ree.investorhub.com/welcome rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
==> picture [596 x 82] intentionally omitted <==
| Tenement | Prospect | Hole_ID | Max Depth (m) |
Drill Type | MGA East |
MGA North |
A number |
Nb ppm |
Au ppb |
Y ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| E39/2410 | Luchini | LCA070 | 48 | Air Core | 597930 | 6684965 | 105660 | - | 23 | - |
| E39/2410 | Luchini | LCA071 | 46 | Air Core | 598130 | 6684965 | 105660 | - | 16 | - |
| E39/2410 | Luchini | LCA072 | 24 | Air Core | 597550 | 6687380 | 105660 | - | 14 | - |
| E39/2410 | Luchini | LCA073 | 22 | Air Core | 597670 | 6687357 | 105660 | - | 4 | - |
| E39/2410 | Luchini | LCA074 | 32 | Air Core | 598604 | 6687958 | 105660 | 9.9 | 28 | 115.5 |
| E39/2410 | Luchini | LCA075 | 42 | Air Core | 598304 | 6687759 | 105660 | 6.2 | 6 | 72.2 |
| E39/2410 | Luchini | LCA076 | 32 | Air Core | 598404 | 6687759 | 105660 | 3.2 | 33 | 238.9 |
| E39/2410 | Luchini | LCA077 | 29 | Air Core | 598504 | 6687759 | 105660 | 10.5 | 18 | 96.8 |
| E39/2410 | Luchini | LCA078 | 27 | Air Core | 598604 | 6687759 | 105660 | 6 | 13 | 233.5 |
| E39/2410 | Luchini | LCA079 | 26 | Air Core | 598704 | 6687759 | 105660 | 4.3 | 20 | 652.7 |
| E39/2410 | Luchini | LCA080 | 25 | Air Core | 598804 | 6687759 | 105660 | 4.4 | 5 | 95.3 |
| E39/2410 | Luchini | LCA081 | 21 | Air Core | 598904 | 6687759 | 105660 | 2.9 | 9 | 6.3 |
| E39/2410 | Luchini | LCA082 | 36 | Air Core | 599004 | 6687759 | 105660 | 15.6 | 3 | 198.5 |
| E39/2410 | Luchini | LCA083 | 40 | Air Core | 599104 | 6687759 | 105660 | 10.8 | 6 | 102 |
| E39/2410 | Luchini | LCA084 | 20 | Air Core | 599204 | 6687759 | 105660 | 12.1 | 6 | 18.4 |
| E39/2410 | Luchini | LCA085 | 37 | Air Core | 597799 | 6687660 | 105660 | 4.6 | 31 | 298.3 |
| E39/2410 | Luchini | LCA086 | 34 | Air Core | 597849 | 6687660 | 105660 | 3.2 | 17 | 192.1 |
| E39/2410 | Luchini | LCA087 | 32 | Air Core | 597900 | 6687660 | 105660 | 3.5 | 6 | 151 |
| E39/2410 | Luchini | LCA088 | 30 | Air Core | 597950 | 6687660 | 105660 | 3.8 | 7 | 188.3 |
| E39/2410 | Luchini | LCA089 | 33 | Air Core | 598000 | 6687660 | 105660 | 15.3 | 16 | 197.4 |
| E39/2410 | Luchini | LCA090 | 52 | Air Core | 598050 | 6687660 | 105660 | 7.6 | 7 | 134.9 |
| E39/2410 | Luchini | LCA091 | 58 | Air Core | 598100 | 6687660 | 105660 | 6.9 | 11 | 78.6 |
| E39/2410 | Luchini | LCA092 | 34 | Air Core | 598150 | 6687660 | 105660 | 36.7 | 11 | 40.2 |
| E39/2410 | Luchini | LCA093 | 32 | Air Core | 598200 | 6687660 | 105660 | 62.2 | 464 | 731.2 |
| E39/2410 | Luchini | LCA094 | 44 | Air Core | 598100 | 6687560 | 105660 | 4.3 | <1 | 324.3 |
| E39/2410 | Luchini | LCA095 | 34 | Air Core | 598150 | 6687560 | 105660 | 6.5 | 18 | 115 |
| E39/2410 | Luchini | LCA096 | 38 | Air Core | 598200 | 6687560 | 105660 | 5.6 | 315 | 135.5 |
| E39/2410 | Luchini | LCA097 | 38 | Air Core | 598250 | 6687560 | 105660 | 8.6 | 8 | 185 |
| E39/2410 | Luchini | LCA098 | 52 | Air Core | 598300 | 6687560 | 105660 | 39.9 | 5 | 64.8 |
| E39/2410 | Luchini | LCA099 | 46 | Air Core | 598350 | 6687560 | 105660 | 14.4 | 10 | 76.4 |
| E39/2410 | Luchini | LCA100 | 35 | Air Core | 598400 | 6687560 | 105660 | 9.6 | 37 | 147.9 |
| E39/2410 | Luchini | LCA101 | 30 | Air Core | 598500 | 6687560 | 105660 | 10.6 | 30 | 108.9 |
| E39/2410 | Luchini | LCA102 | 30 | Air Core | 598600 | 6687560 | 105660 | 8.5 | 4 | 112.2 |
| E39/2410 | Luchini | LCA103 | 32 | Air Core | 598700 | 6687560 | 105660 | 32.1 | 13 | 124.5 |
| E39/2410 | Luchini | LCA104 | 33 | Air Core | 598800 | 6687560 | 105660 | 20.8 | 5 | 46.7 |
| E39/2410 | Luchini | LCA105 | 51 | Air Core | 598900 | 6687560 | 105660 | 26.4 | 13 | 68 |
| E39/2410 | Luchini | LCA106 | 39 | Air Core | 599000 | 6687560 | 105660 | 22.8 | 14 | 115 |
| E39/2410 | Luchini | LCA107 | 37 | Air Core | 599100 | 6687560 | 105660 | 15.2 | 4 | 166.5 |
| E39/2410 | Luchini | LCA108 | 70 | Air Core | 598300 | 6687509 | 105660 | 16.3 | 2 | 78.3 |
==> picture [15 x 16] intentionally omitted <==
P +61 (0) 8 6383 6593 E [email protected] W ree.investorhub.com/welcome rarex.com.au
RareX Limited (ASX:REE) @rarex_asx
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
==> picture [596 x 82] intentionally omitted <==
| Tenement | Prospect | Hole_ID | Max Depth (m) |
Drill Type | MGA East |
MGA North |
A number |
Nb ppm |
Au ppb |
Y ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| E39/2410 | Luchini | LCA109 | 40 | Air Core | 598150 | 6687460 | 105660 | 5.2 | 21 | 381.8 |
| E39/2410 | Luchini | LCA110 | 50 | Air Core | 598200 | 6687460 | 105660 | 5.8 | 6 | 239.6 |
| E39/2410 | Luchini | LCA111 | 85 | Air Core | 598250 | 6687460 | 105660 | 4.5 | 8 | 190 |
| E39/2410 | Luchini | LCA112 | 67 | Air Core | 598300 | 6687460 | 105660 | 15.6 | 18 | 152.4 |
| E39/2410 | Luchini | LCA113 | 74 | Air Core | 598350 | 6687460 | 105660 | 49.8 | 472 | 519.7 |
| E39/2410 | Luchini | LCA114 | 76 | Air Core | 598400 | 6687460 | 105660 | 12.9 | 7 | 157.6 |
| E39/2410 | Luchini | LCA115 | 60 | Air Core | 598500 | 6687460 | 105660 | 7.6 | 9 | 157 |
| E39/2410 | Luchini | LCA116 | 85 | Air Core | 598299 | 6687408 | 105660 | 5.2 | 257 | 266.4 |
| E39/2410 | Luchini | LCA117 | 29 | Air Core | 598000 | 6687360 | 105660 | 3.2 | 19 | 357.6 |
| E39/2410 | Luchini | LCA118 | 22 | Air Core | 598100 | 6687360 | 105660 | 5.6 | 17 | 183.6 |
| E39/2410 | Luchini | LCA119 | 35 | Air Core | 598200 | 6687360 | 105660 | 4.9 | 13 | 387.4 |
| E39/2410 | Luchini | LCA120 | 35 | Air Core | 598250 | 6687360 | 105660 | 4.2 | 8 | 191.7 |
| E39/2410 | Luchini | LCA121 | 58 | Air Core | 598300 | 6687360 | 105660 | 4.4 | 20 | 502.5 |
| E39/2410 | Luchini | LCA122 | 39 | Air Core | 598350 | 6687360 | 105660 | 4.3 | 10 | 280.6 |
| E39/2410 | Luchini | LCA123 | 37 | Air Core | 598400 | 6687360 | 105660 | 38.7 | 37 | 110.3 |
| E39/2410 | Luchini | LCA124 | 64 | Air Core | 598450 | 6687360 | 105660 | 12.1 | 13 | 170.7 |
| E39/2410 | Luchini | LCA125 | 38 | Air Core | 598500 | 6687385 | 105660 | 10.4 | 7 | 128.9 |
| E39/2410 | Luchini | LCA126 | 36 | Air Core | 598600 | 6687410 | 105660 | 14.7 | 80 | 273.7 |
| E39/2410 | Luchini | LCA127 | 36 | Air Core | 598700 | 6687410 | 105660 | 11.6 | 7 | 148 |
| E39/2410 | Luchini | LCA128 | 52 | Air Core | 598800 | 6687385 | 105660 | 28.6 | 4 | 96.7 |
| E39/2410 | Luchini | LCA129 | 53 | Air Core | 598900 | 6687360 | 105660 | 41.8 | 5 | 74.5 |
| E39/2410 | Luchini | LCA130 | 70 | Air Core | 599000 | 6687360 | 105660 | 154.2 | 5 | 114.1 |
| E39/2410 | Luchini | LCA131 | 66 | Air Core | 599100 | 6687360 | 105660 | 51.9 | 7 | 143.3 |
| E39/2410 | Luchini | LCA132 | 69 | Air Core | 599200 | 6687360 | 105660 | 65.1 | 2 | 65.7 |
| E39/2410 | Luchini | LCA133 | 28 | Air Core | 597800 | 6687160 | 105660 | 15.8 | 6 | 22.5 |
| E39/2410 | Luchini | LCA134 | 26 | Air Core | 597900 | 6687160 | 105660 | 7.8 | 4 | 159.8 |
| E39/2410 | Luchini | LCA135 | 26 | Air Core | 598000 | 6687160 | 105660 | 6.1 | 7 | 275.2 |
| E39/2410 | Luchini | LCA136 | 25 | Air Core | 598100 | 6687160 | 105660 | 6.7 | 38 | 155.4 |
| E39/2410 | Luchini | LCA137 | 42 | Air Core | 598200 | 6687160 | 105660 | 9.2 | 4 | 136.7 |
| E39/2410 | Luchini | LCA138 | 28 | Air Core | 598300 | 6687160 | 105660 | 16.8 | 10 | 77.6 |
| E39/2410 | Luchini | LCA139 | 36 | Air Core | 598400 | 6687160 | 105660 | 5.8 | 9 | 118.8 |
| E39/2410 | Luchini | LCA140 | 48 | Air Core | 598500 | 6687160 | 105660 | 3.8 | 14 | 187.5 |
| E39/2410 | Luchini | LCA141 | 30 | Air Core | 598600 | 6687160 | 105660 | 12.4 | 4 | 39.3 |
| E39/2410 | Luchini | LCA142 | 27 | Air Core | 598700 | 6687160 | 105660 | 6.6 | 6 | 107 |
| E39/2410 | Luchini | LCA143 | 57 | Air Core | 598800 | 6687160 | 105660 | 85.3 | 25 | 59.9 |
| E39/2410 | Luchini | LCA144 | 46 | Air Core | 598900 | 6687160 | 105660 | 98.4 | 25 | 113.6 |
| E39/2410 | Luchini | LCA145 | 28 | Air Core | 597900 | 6686960 | 105660 | 11.7 | 11 | 47.2 |
| E39/2410 | Luchini | LCA146 | 26 | Air Core | 598000 | 6686960 | 105660 | 1.9 | 5 | 120.9 |
| E39/2410 | Luchini | LCA147 | 29 | Air Core | 598100 | 6686960 | 105660 | 6 | 9 | 86.1 |
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx W ree.investorhub.com/welcome rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
==> picture [596 x 82] intentionally omitted <==
| Tenement | Prospect | Hole_ID | Max Depth (m) |
Drill Type | MGA East |
MGA North |
A number |
Nb ppm |
Au ppb |
Y ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| E39/2410 | Luchini | LCA148 | 42 | Air Core | 598200 | 6686960 | 105660 | 11.1 | 3 | 62.1 |
| E39/2410 | Luchini | LCA149 | 32 | Air Core | 598300 | 6686960 | 105660 | 10.9 | 5 | 107.9 |
| E39/2410 | Luchini | LCA150 | 29 | Air Core | 598400 | 6686960 | 105660 | 8.5 | 20 | 47 |
| E39/2410 | Luchini | LCA151 | 33 | Air Core | 598500 | 6686960 | 105660 | 9.8 | 11 | 46.6 |
| E39/2410 | Luchini | LCA152 | 49 | Air Core | 598600 | 6686960 | 105660 | 18.2 | 63 | 42.9 |
| E39/2410 | Luchini | LCA153 | 66 | Air Core | 598700 | 6686960 | 105660 | 109.7 | 19 | 95.9 |
| E39/2410 | Luchini | LCA154 | 49 | Air Core | 598800 | 6686960 | 105660 | 292.7 | 6 | 106.5 |
| E39/2410 | Luchini | LCA155 | 44 | Air Core | 598900 | 6686960 | 105660 | 157.6 | 8 | 167.5 |
| E39/2410 | Luchini | LCA156 | 44 | Air Core | 599000 | 6686960 | 105660 | 162.6 | 6 | 91.3 |
| E39/2410 | Luchini | LCA157 | 32 | Air Core | 598560 | 6686753 | 105660 | 35.8 | 3 | 56 |
| E39/2410 | Luchini | LCA158 | 59 | Air Core | 598661 | 6686750 | 105660 | 130.8 | 6 | 74.5 |
| E39/2410 | Luchini | LCA159 | 32 | Air Core | 598200 | 6686560 | 105660 | 12.8 | 25 | 133.6 |
| E39/2410 | Luchini | LCA160 | 36 | Air Core | 598300 | 6686560 | 105660 | 15.8 | 14 | 90.3 |
| E39/2410 | Luchini | LCA161 | 35 | Air Core | 598400 | 6686560 | 105660 | 17.4 | 2 | 47.1 |
| E39/2410 | Luchini | LCA162 | 37 | Air Core | 598500 | 6686560 | 105660 | 15.2 | 4 | 109.5 |
| E39/2410 | Luchini | LCA163 | 40 | Air Core | 598600 | 6686560 | 105660 | 104 | 232 | 86.7 |
| E39/2410 | Luchini | LCA164 | 43 | Air Core | 598700 | 6686560 | 105660 | 177.5 | 259 | 89.6 |
| E39/2410 | Luchini | LCA165 | 34 | Air Core | 598800 | 6686560 | 105660 | 189.1 | 49 | 85.3 |
| E39/2410 | Luchini | LCA166 | 38 | Air Core | 598900 | 6686560 | 105660 | 349.3 | 58 | 106.3 |
| E39/2410 | Luchini | LCA167 | 50 | Air Core | 599000 | 6686560 | 105660 | 276.1 | 5 | 96.4 |
| E39/2410 | Luchini | LCA168 | 52 | Air Core | 599100 | 6686560 | 105660 | 60.2 | 11 | 97.5 |
| E39/2410 | Luchini | LCA169 | 44 | Air Core | 598600 | 6686260 | 105660 | 100.4 | 34 | 73.1 |
| E39/2410 | Luchini | LCA170 | 40 | Air Core | 598700 | 6686260 | 105660 | 92.6 | 39 | 55.5 |
| E39/2410 | Luchini | LCA171 | 47 | Air Core | 598750 | 6686260 | 105660 | 137.8 | 63 | 139.9 |
| E39/2410 | Luchini | LCA172 | 50 | Air Core | 598800 | 6686260 | 105660 | 99.2 | 32 | 55.7 |
| E39/2410 | Luchini | LCA173 | 52 | Air Core | 598850 | 6686260 | 105660 | 101.5 | 421 | 113.4 |
| E39/2410 | Luchini | LCA174 | 54 | Air Core | 598900 | 6686260 | 105660 | 87.8 | 6 | 65.9 |
| E39/2410 | Luchini | LCA175 | 54 | Air Core | 599000 | 6686260 | 105660 | 85.9 | 20 | 57.5 |
| E39/2410 | Luchini | LCA176 | 55 | Air Core | 598739 | 6686155 | 105660 | 200.8 | 34 | 137.9 |
| E39/2410 | Luchini | LCA177 | 73 | Air Core | 598852 | 6686166 | 105660 | 73.6 | 6 | 46.7 |
| E39/2410 | Luchini | LCA178 | 63 | Air Core | 598897 | 6686165 | 105660 | 107.5 | 26 | 70.3 |
| E39/2410 | Luchini | LCA179 | 52 | Air Core | 599000 | 6686160 | 105660 | 83.2 | 6 | 60.5 |
| E39/2410 | Luchini | LCA180 | 41 | Air Core | 599100 | 6686160 | 105660 | 89.3 | 30 | 43.4 |
| E39/2410 | Luchini | LCA181 | 49 | Air Core | 599200 | 6686160 | 105660 | 83.4 | 4 | 152.8 |
| E39/2410 | Luchini | LCA182 | 47 | Air Core | 599300 | 6686160 | 105660 | 93.3 | 167 | 99.9 |
| E39/2410 | Luchini | LCA183 | 46 | Air Core | 599400 | 6686160 | 105660 | 68.5 | 18 | 183.6 |
| E39/2410 | Luchini | LCA184 | 49 | Air Core | 599500 | 6686160 | 105660 | 46.3 | 12 | 85.2 |
| E39/2410 | Luchini | LCA185 | 26 | Air Core | 598597 | 6686061 | 105660 | 95.8 | 22 | 62.2 |
| E39/2410 | Luchini | LCA186 | 44 | Air Core | 598699 | 6686062 | 105660 | 105.9 | 6 | 81.2 |
==> picture [15 x 16] intentionally omitted <==
P +61 (0) 8 6383 6593 E [email protected] W ree.investorhub.com/welcome rarex.com.au
RareX Limited (ASX:REE) @rarex_asx
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
==> picture [596 x 82] intentionally omitted <==
| Tenement | Prospect | Hole_ID | Max Depth (m) |
Drill Type | MGA East |
MGA North |
A number |
Nb ppm |
Au ppb |
Y ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| E39/2410 | Luchini | LCA187 | 60 | Air Core | 598756 | 6686054 | 105660 | 409.1 | 10 | 190.4 |
| E39/2410 | Luchini | LCA188 | 61 | Air Core | 598804 | 6686056 | 105660 | 653.6 | 19 | 125.2 |
| E39/2410 | Luchini | LCA189 | 65 | Air Core | 598858 | 6686057 | 105660 | 444.1 | 29 | 142.2 |
| E39/2410 | Luchini | LCA190 | 60 | Air Core | 598903 | 6686057 | 105660 | 114.5 | 46 | 66 |
| E39/2410 | Luchini | LCA191 | 62 | Air Core | 598994 | 6686060 | 105660 | 91.8 | 8 | 75.8 |
| E39/2410 | Luchini | LCA192 | 43 | Air Core | 598593 | 6685954 | 105660 | 134.4 | 148 | 146.2 |
| E39/2410 | Luchini | LCA193 | 48 | Air Core | 598693 | 6685954 | 105660 | 98.7 | 19 | 49.3 |
| E39/2410 | Luchini | LCA194 | 86 | Air Core | 598802 | 6685960 | 105660 | 1178.6 | 18 | 252.9 |
| E39/2410 | Luchini | LCA195 | 54 | Air Core | 598899 | 6685963 | 105660 | 138.9 | 257 | 50 |
| E39/2410 | Luchini | LCA196 | 52 | Air Core | 598994 | 6685962 | 105660 | 95 | 16 | 67.7 |
| E39/2410 | Luchini | LCA197 | 50 | Air Core | 599092 | 6685959 | 105660 | 112.1 | 5 | 68.4 |
| E39/2410 | Luchini | LCA198 | 49 | Air Core | 599192 | 6685962 | 105660 | 83.4 | 5 | 49.9 |
| E39/2410 | Luchini | LCA199 | 43 | Air Core | 599298 | 6685963 | 105660 | 104.7 | 10 | 105.4 |
| E39/2410 | Luchini | LCA200 | 41 | Air Core | 599401 | 6685959 | 105660 | 89.9 | 3 | 53 |
| E39/2410 | Luchini | LCA201 | 64 | Air Core | 598147 | 6687161 | 105660 | 5.6 | 19 | 165.2 |
| E39/2410 | Luchini | LCA202 | 67 | Air Core | 598259 | 6687157 | 105660 | 14.2 | 13 | 53.2 |
| E39/2410 | Luchini | LCA203 | 43 | Air Core | 598204 | 6687111 | 105660 | 4.8 | 13 | 77.2 |
| E39/2410 | Luchini | LCA204 | 67 | Air Core | 598192 | 6687220 | 105660 | 12.3 | 25 | 49.4 |
| E39/2410 | Luchini | LCA205 | 43 | Air Core | 597613 | 6687366 | 105660 | 11.9 | 13 | 40.6 |
| E39/2410 | Luchini | LCA206 | 23 | Air Core | 597768 | 6687966 | 105660 | 6.9 | 3 | 35.4 |
| E39/2410 | Luchini | LCA207 | 28 | Air Core | 597745 | 6687867 | 105660 | 8.6 | 4 | 13.7 |
| E39/2410 | Luchini | LCA208 | 35 | Air Core | 597724 | 6687771 | 105660 | 5.7 | 21 | 165.3 |
| E39/2410 | Luchini | LCA209 | 34 | Air Core | 597691 | 6687678 | 105660 | 5.9 | 13 | 40 |
| E39/2410 | Luchini | LCA210 | 26 | Air Core | 597624 | 6687605 | 105660 | 8.9 | 24 | 46.9 |
| E39/2410 | Luchini | LCA211 | 26 | Air Core | 597536 | 6687560 | 105660 | 4.2 | 4 | 63.9 |
| E39/2410 | Luchini | LCA212 | 21 | Air Core | 598404 | 6687958 | 105660 | 17.2 | 7 | 105.2 |
| E39/2410 | Luchini | LCA213 | 25 | Air Core | 598504 | 6687958 | 105660 | 7.9 | 4 | 139 |
| E39/2410 | Luchini | LDUN01 | 15 | Air Core | 596597 | 6687170 | 105660 | - | <1 | - |
| E39/2410 | Luchini | TNA2669 | 94 | Air Core | 596530 | 6687550 | 105660 | - | 4 | - |
| E39/2410 | Luchini | TNA2670 | 99 | Air Core | 596650 | 6687400 | 105660 | - | 17 | - |
| E39/2410 | Luchini | TNA2671 | 84 | Air Core | 596790 | 6687240 | 105660 | - | 6 | - |
| E39/2410 | Luchini | TNA2672 | 63 | Air Core | 596910 | 6687090 | 105660 | - | 11 | - |
| E39/2410 | Luchini | TNA2673 | 69 | Air Core | 597040 | 6686940 | 105660 | - | 8 | - |
| E39/2410 | Luchini | TNA2674 | 57 | Air Core | 597170 | 6686790 | 105660 | - | 13 | - |
| E39/2410 | Luchini | TNA2675 | 46 | Air Core | 597300 | 6686630 | 105660 | - | 7 | - |
| E39/2410 | Luchini | TNA2676 | 54 | Air Core | 597430 | 6686480 | 105660 | - | 18 | - |
| E39/2410 | Luchini | TNA2677 | 64 | Air Core | 597560 | 6686320 | 105660 | - | 20 | - |
| E39/2410 | Luchini | TNA2678 | 66 | Air Core | 597710 | 6686160 | 105660 | - | 23 | - |
| E39/2410 | Luchini | TNA2679 | 65 | Air Core | 597820 | 6686010 | 105660 | - | 7 | - |
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx W ree.investorhub.com/welcome rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
==> picture [596 x 82] intentionally omitted <==
| Tenement | Prospect | Hole_ID | Max Depth (m) |
Drill Type | MGA East |
MGA North |
A number |
Nb ppm |
Au ppb |
Y ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| E39/2410 | Luchini | TNA2680 | 72 | Air Core | 597940 | 6685860 | 105660 | - | 5 | - |
| E39/2410 | Luchini | TNA2681 | 93 | Air Core | 598065 | 6685710 | 105660 | - | 7 | - |
| E39/2410 | Luchini | TNA2682 | 57 | Air Core | 598200 | 6685560 | 105660 | - | 9 | - |
| E39/2410 | Luchini | TNA2683 | 57 | Air Core | 598450 | 6685600 | 105660 | - | 44 | - |
| E39/2410 | Luchini | TNA2684 | 32 | Air Core | 598580 | 6685760 | 105660 | - | 10 | - |
| E39/2410 | Luchini | TNA2685 | 25 | Air Core | 598720 | 6685910 | 105660 | - | 42 | - |
| E39/2410 | Luchini | TNA2686 | 34 | Air Core | 598815 | 6685820 | 105660 | - | 2 | - |
| E39/2410 | Luchini | TNA2687 | 60 | Air Core | 598970 | 6685730 | 105660 | - | 4 | - |
| E39/2410 | Luchini | TNA2688 | 49 | Air Core | 599105 | 6685680 | 105660 | - | 6 | - |
| E39/2410 | Luchini | TNA2689 | 32 | Air Core | 599245 | 6685730 | 105660 | - | 14 | - |
| E39/2410 | Luchini | TNA2690 | 28 | Air Core | 599485 | 6685760 | 105660 | - | 10 | - |
| E39/2410 | Luchini | TNA2691 | 32 | Air Core | 599670 | 6685770 | 105660 | - | 15 | - |
| E39/2410 | Luchini | TNA2692 | 28 | Air Core | 599795 | 6686010 | 105660 | - | 4 | - |
| E39/2410 | Luchini | TNA2693 | 24 | Air Core | 599950 | 6686155 | 105660 | - | 5 | - |
| E39/2410 | Luchini | TNA2694 | 37 | Air Core | 600135 | 6686080 | 105660 | - | 2 | - |
| E39/2410 | Luchini | TNA2695 | 46 | Air Core | 600320 | 6686010 | 105660 | - | 4 | - |
| E39/2410 | Luchini | TNA2696 | 23 | Air Core | 600530 | 6685965 | 105660 | - | 8 | - |
| E39/2410 | Luchini | TNA2697 | 28 | Air Core | 600890 | 6686040 | 105660 | - | 3 | - |
| E39/2410 | Luchini | TNA2698 | 20 | Air Core | 601280 | 6686010 | 105660 | - | 4 | - |
| E39/2409 | Niobe | RDA200 | 51 | Air Core | 583105 | 6673325 | 105664 | 34 | 4 | 28.9 |
| E39/2409 | Niobe | RDA202 | 42 | Air Core | 583685 | 6672855 | 105664 | 78 | 1 | 25.2 |
| E39/2409 | Niobe | RDA203 | 37 | Air Core | 583685 | 6672740 | 105664 | 130.4 | 2 | 75.1 |
| E39/2409 | Niobe | RDA204 | 36 | Air Core | 584175 | 6672550 | 105664 | 129 | 2 | 54 |
| E39/2409 | Niobe | RDA205 | 47 | Air Core | 584605 | 6672295 | 105664 | 113.4 | 1 | 173.7 |
| E39/2409 | Niobe | RDA206 | 14 | Air Core | 585005 | 6672055 | 105664 | 85.1 | 1 | 23 |
| E39/2409 | Niobe | RDA208 | 9 | Air Core | 585780 | 6671865 | 105664 | 93.6 | 1 | 12.3 |
| E39/2409 | Niobe | RDA210 | 6 | Air Core | 586430 | 6671760 | 105664 | 95.4 | 2 | 23 |
| E39/2409 | Niobe | RDA211 | 21 | Air Core | 586730 | 6671730 | 105664 | 65.3 | 3 | 156.5 |
| E39/2409 | Niobe | RDA212 | 17 | Air Core | 587030 | 6671710 | 105664 | 75.4 | 2 | 116.9 |
| E39/2409 | Niobe | RDA215 | 79 | Air Core | 588555 | 6671585 | 105664 | 16.8 | 6 | 56.3 |
| E39/2409 | Niobe | RDA216 | 69 | Air Core | 589040 | 6671600 | 105664 | 16.3 | 6 | 68.3 |
| E39/2409 | Niobe | RDA217 | 64 | Air Core | 589425 | 6671765 | 105664 | 16.5 | 1 | 65.8 |
| E39/2409 | Niobe | RDA218 | 31 | Air Core | 580690 | 6670975 | 105664 | 44 | 2 | 121.1 |
| E39/2409 | Niobe | RDA219 | 21 | Air Core | 580990 | 6671000 | 105664 | 61.3 | 2 | 89.6 |
| E39/2409 | Niobe | RDA220 | 27 | Air Core | 581295 | 6671040 | 105664 | 106.4 | <1 | 48 |
| E39/2409 | Niobe | RDA221 | 32 | Air Core | 581560 | 6671025 | 105664 | 134.7 | 1 | 42.4 |
| E39/2409 | Niobe | RDA223 | 20 | Air Core | 582185 | 6671080 | 105664 | 108.1 | <1 | 205.5 |
| E39/2409 | Niobe | RDA225 | 29 | Air Core | 583130 | 6670905 | 105664 | 86.8 | 3 | 432.4 |
| E39/2409 | Niobe | RDA227 | 36 | Air Core | 584055 | 6670659 | 105664 | 125.1 | <1 | 39.1 |
==> picture [15 x 16] intentionally omitted <==
P +61 (0) 8 6383 6593 E [email protected] W ree.investorhub.com/welcome rarex.com.au
RareX Limited (ASX:REE) @rarex_asx
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
==> picture [596 x 82] intentionally omitted <==
| Tenement | Prospect | Hole_ID | Max Depth (m) |
Drill Type | MGA East |
MGA North |
A number |
Nb ppm |
Au ppb |
Y ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| E39/2409 | Niobe | RDA229 | 7 | Air Core | 584983 | 6670397 | 105664 | 68.4 | 3 | 11.4 |
| E39/2409 | Niobe | RDA231 | 60 | Air Core | 585590 | 6670235 | 105664 | 141.1 | 3 | 203.4 |
| E39/2409 | Niobe | RDA232 | 27 | Air Core | 585888 | 6670163 | 105664 | 145.4 | 4 | 232.7 |
| E39/2409 | Niobe | RDA234 | 90 | Air Core | 586716 | 6670069 | 105664 | 16.2 | 7 | 66.1 |
| E39/2409 | Niobe | RDA236 | 63 | Air Core | 587715 | 6670025 | 105664 | 19.2 | 17 | 48.9 |
| E39/2409 | Niobe | RDA238 | 47 | Air Core | 588872 | 6670037 | 105664 | 16.8 | 3 | 41.1 |
| E39/2409 | Niobe | RDA240 | 38 | Air Core | 589796 | 6670144 | 105664 | 17.1 | 6 | 57.9 |
| E39/2409 | CHA001 | 120 | Air Core | 581660 | 6665020 | 105664 | 14.9 | 5 | 79.9 | |
| E39/2409 | CHA004 | 84 | Air Core | 581380 | 6663440 | 105664 | 16.9 | 3 | 95.5 | |
| E39/2409 | CHA006 | 92 | Air Core | 581350 | 6662490 | 105664 | 15.8 | 3 | 117.1 | |
| E39/2409 | TEA001 | 36 | Air Core | 586103 | 6676790 | 105664 | - | 1 | - | |
| E39/2409 | TEA002 | 28 | Air Core | 586305 | 6676738 | 105664 | - | 3 | - | |
| E39/2409 | TEA003 | 31 | Air Core | 586502 | 6676695 | 105664 | - | 3 | - | |
| E39/2409 | TEA004 | 41 | Air Core | 586599 | 6676666 | 105664 | - | 2 | - | |
| E39/2409 | TEA005 | 36 | Air Core | 586706 | 6676649 | 105664 | - | 1 | - | |
| E39/2409 | TEA006 | 34 | Air Core | 586798 | 6676629 | 105664 | 10.7 | 66 | 12 | |
| E39/2409 | TEA007 | 38 | Air Core | 586891 | 6676593 | 105664 | - | 2 | - | |
| E39/2409 | TEA008 | 48 | Air Core | 587004 | 6676556 | 105664 | - | 7 | - | |
| E39/2409 | TEA009 | 40 | Air Core | 587096 | 6676454 | 105664 | - | 6 | - | |
| E39/2409 | TEA010 | 28 | Air Core | 587307 | 6676412 | 105664 | - | <1 | - | |
| E39/2409 | TEA011 | 31 | Air Core | 587502 | 6676403 | 105664 | - | 1 | - | |
| E39/2409 | TEA012 | 40 | Air Core | 585990 | 6676431 | 105664 | - | 2 | - | |
| E39/2409 | TEA013 | 31 | Air Core | 586211 | 6676406 | 105664 | - | 2 | - | |
| E39/2409 | TEA014 | 43 | Air Core | 586372 | 6676379 | 105664 | - | 6 | - | |
| E39/2409 | TEA015 | 68 | Air Core | 586556 | 6676287 | 105664 | - | 4 | - | |
| E39/2409 | TEA016 | 57 | Air Core | 586650 | 6676263 | 105664 | - | 11 | - | |
| E39/2409 | TEA017 | 69 | Air Core | 586749 | 6676220 | 105664 | - | 12 | - | |
| E39/2409 | TEA018 | 25 | Air Core | 586849 | 6676198 | 105664 | - | 1 | - | |
| E39/2409 | TEA019 | 21 | Air Core | 586949 | 6676180 | 105664 | - | <1 | - | |
| E39/2409 | TEA020 | 15 | Air Core | 587152 | 6676110 | 105664 | - | 2 | - | |
| E39/2409 | TEA021 | 24 | Air Core | 587350 | 6676051 | 105664 | - | 2 | - | |
| E39/2409 | TEA022 | 34 | Air Core | 587522 | 6676045 | 105664 | - | 3 | - | |
| E39/2409 | TEA023 | 45 | Air Core | 586097 | 6676027 | 105664 | - | 4 | - | |
| E39/2409 | TEA024 | 30 | Air Core | 586259 | 6675996 | 105664 | - | 2 | - | |
| E39/2409 | TEA025 | 20 | Air Core | 586431 | 6675925 | 105664 | - | 2 | - | |
| E39/2409 | TEA026 | 26 | Air Core | 586498 | 6675901 | 105664 | - | 4 | - | |
| E39/2409 | TEA027 | 26 | Air Core | 586598 | 6675877 | 105664 | - | 1 | - | |
| E39/2409 | TEA028 | 30 | Air Core | 586668 | 6675851 | 105664 | - | 1 | - | |
| E39/2409 | TEA029 | 42 | Air Core | 586794 | 6675802 | 105664 | - | 2 | - |
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx W ree.investorhub.com/welcome rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
==> picture [596 x 82] intentionally omitted <==
| Tenement | Prospect | Hole_ID | Max Depth (m) |
Drill Type | MGA East |
MGA North |
A number |
Nb ppm |
Au ppb Y ppm |
Au ppb Y ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| E39/2409 | TEA030 | 33 | Air Core | 586884 | 6675787 | 105664 | - | 3 | - | |
| E39/2409 | TEA031 | 30 | Air Core | 586995 | 6675777 | 105664 | - | 1 | - | |
| E39/2409 | TEA032 | 27 | Air Core | 587139 | 6675792 | 105664 | - | 1 | - | |
| E39/2409 | TEA033 | 26 | Air Core | 587352 | 6675773 | 105664 | - | 2 | - | |
| E39/2409 | TEA034 | 23 | Air Core | 587557 | 6675743 | 105664 | - | 1 | - | |
| E39/2409 | TEA035 | 16 | Air Core | 587734 | 6675737 | 105664 | - | 1 | - | |
| E39/2409 | TEA036 | 17 | Air Core | 587948 | 6675743 | 105664 | - | 3 | - | |
| E39/2409 | TEA037 | 18 | Air Core | 588136 | 6675793 | 105664 | - | 2 | - | |
| - = No 4 Acid Digest assays | ||||||||||
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx W ree.investorhub.com/welcome rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
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Appendix 2: JORC Tables
Section 1: Sampling Techniques and Data
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Sampling techniques |
• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. |
• All drilling described in this announcement are vertical air- core (AC) drill holes and were completed between 2006- 2014 by Anglo Gold Ashanti (70%) and Independence Group NL (35%) • 318 vertical AC drill holes in tenements E39/2410 and E39/2409 are shown in Appendix 1. Drilling in the other 4 tenements have not been compiled into a database as yet. • All drilling was drilled by the same company to blade refusal using a truck mounted rig. Samples were collected from the drill rig in single metre intervals and laid on the ground in rows of ten for geological logging • Composite samples at intervals determined by the geologist (up to 4m), weighing approximately 3kg, were collected from the sample piles using a scoop and submitted for analysis. This is industry standard for gold exploration using AC drilling. • Before October 2013 samples were only assayed for Au. After October 2013 samples were assayed for gold and multi-element. • Where anomalous results were encountered, a return was made to the intervals on the ground and single metre samples were re-sampled using a scoop. • No reference to measures taken to ensure sample representivity were discussed in historic reports. |
| Drilling techniques |
• Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). |
• Drilling technique used is air-core using a truck mounted rig |
| Drill sample recovery |
• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. |
• Sample recovery was routinely documented during sampling. The upper 4-8m often has 50% recovery and below 8m is mostly 100% recovery. |
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| • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
• No measures were described in the historic reports regarding maximising sample recovery • There are no details in the historic reports regarding the relationship between sample recovery/grade and sample bias |
|
|---|---|---|
| Logging | • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged. |
• All AC samples have been geologically logged to a level of detail to support a mineral resource estimation. • Logging is qualitative • 100% of the AC holes have been geologically logged |
| Sub- sampling techniques and sample preparation |
• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. |
• AC samples were composited for the frst pass sampling • Composite samples at intervals determined by the geologist (up to 4m), weighing approximately 3kg, were collected from the sample piles using a scoop and submitted for analysis. This is industry standard for gold exploration using AC drilling. • Before October 2013 samples were only assayed for Au. After October 2013 samples were assayed for gold and multi-element. • Where anomalous results were encountered, a return was made to the intervals on the ground and single metre samples were re-sampled using a scoop. • This technique is industry standard for AC gold exploration • No quality control procedures were discuss in historic reports • Measures taken to ensure that the sampling is representative has not been discussed in historic reports • The sample sizes are appropriate to the grain size of the material sampled |
| Quality of assay data and laboratory tests |
• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • Forgeophysical tools, spectrometers, |
• Maximum assay values of Nb, Au and Y for each drill hole in tenements E39/2410 and E39/2409 are shown in Appendix 1. |
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| handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. |
• Before October 2013 all drill holes were assayed for Au only using 25g charge digestion in aqua-regia analysed by graphite-furnace AAS, or a 25g charged fre assay analysed by solvent extraction AAS. This assay suite is considered appropriate for gold exploration and are industry standard techniques. Samples assayed before October 2013 can be identifed in Appendix 1 by Nb and Y values of -. • Post October 2013, additional multi-element analysis was then undertaken on all pulps from composite samples, using a 4-acid digest and either ICP-OES analysis or ICP- MS analysis. Nb and Y were included in the analysis. Eu was the only Lanthanide included in the assay suite. This method is considered a partial digestion of Nb and Lanthanide minerals and is considered appropriate for Nb and Lanthanide exploration. • QAQC was not discussed in historic reports and were not reported in data fles. Anglo Gold Ashanti and Independence Group NL are reputable companies, and it is assumed strict QAQC protocols are followed. Assaying was completed by Genalysis Perth and are an industry leader in mineral analysis. It is assumed Genalysis followed strict QAQC protocols in the laboratory. • Magnetic images used in the announcement have been reprocessed by Resource Potentials from public data sets. The magnetic images and radiometrics over the project area were fown in 2008-2010. The magnetic and radiometric data was fown at 90-270 fight lines at 100m apart at 0.1 second intervals. |
|
|---|---|---|
| Verification of sampling and assaying |
• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. |
• Reported results have not been verifed by either an independent or alternative company personnel. • Twinned holes have not been drilled • Data has been captured from historic reports from Anglo Gold Ashanti. Geological data appears to be of high quality, and it is assumed Anglo followed industry standard procedures and protocols when collecting and storing data. • No adjustments have been made to assay data |
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RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
==> picture [596 x 82] intentionally omitted <==
| Location of data points |
• Accuracy and quality of surveys used to locate drillholes (collar and downhole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. |
• Drill hole collars have been surveyed with a handheld GPS2000 and have an accuracy of 4m • All coordinates are in GDA94 MGA Zone 51 • Accurate topographic control is poor. The terrain is fat and for mineral exploration the public topographic maps and DTM from aerial magnetic surveys are sufcient. |
|---|---|---|
| Data spacing and distribution |
• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. |
• Drill hole spacing is considered appropriate for establishing the presence of elevated niobium within the Khaleesi alkaline intrusion complex. • Geological and grade continuity has not been established and is not appropriate for a mineral resource estimate • Composite samples at intervals determined by the geologist (up to 4m), weighing approximately 3kg, were collected from the sample piles using a scoop and submitted for analysis. |
| Orientation of data in relation to geological structure |
• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
• Ore grade Nb mineralisation has not been discovered as yet and relationship with possible structures is unknown. • No sampling bias has been identifed from historic drill results |
| Sample security |
• The measures taken to ensure sample security. |
• No sampling by RareX has been completed |
| Audits or reviews |
• The results of any audits or reviews of sampling techniques and data. |
• No audits or reviews have been commissioned by RareX. It is unknown whether Anglo Gold Ashanti has had audit or reviews done. |
==> picture [15 x 16] intentionally omitted <==
P +61 (0) 8 6383 6593 E [email protected] W ree.investorhub.com/welcome rarex.com.au
RareX Limited (ASX:REE) @rarex_asx
RareX Limited ASX:REE ABN: 65 105 578 756
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
==> picture [596 x 82] intentionally omitted <==
Section 2: Reporting of Exploration Results
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Mineral tenement and land tenure status |
• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
• E39/2409 granted tenement. Purchased from Beau Resources LTD on the 21stMay 2024. Has a royalty of 2%. • E39/2410 pending tenement. Purchased from Beau Resources LTD on the 21stMay 2024. Has a royalty of 2%. Access agreements with Narnoo Mining Pty Ltd to be signed prior to grant of tenement. • E39/2415 pending tenement. Purchased from Beau Resources LTD on the 21stMay 2024. Has a royalty of 2%. Access agreements with Narnoo Mining Pty Ltd to be signed prior to grant of tenement. • E39/2470 pending tenement. Purchased from Sustainable Minerals Ltd on the 21stMay 2024. No royalty. This tenement has been withdrawn and RareX tenement E39/2496 will take its place. • E39/2494 pending tenement. No royalty • E39/2495 pending tenement. No royalty • Heritage agreements for all tenements are currently being negotiated. |
| Exploration done by other parties |
• Acknowledgment and appraisal of exploration by other parties. |
• Little exploration of note was completed on the project area prier to the discovery of Tropicana Gold deposit in 2005 which is located 100km to the north east along strike. After the discovery of Tropicana, Anglo Gold Ashanti pegged large portions of the Northern Foreland unit and completed systematic surface geochemistry, geophysics, and AC drilling over hundreds of square kilometres and is still active in the area. During this period Luchini gold prospect was discovered in 2012 on the northern quadrant of the Khaleesi alkaline intrusion complex (KAIC) with best intersection of 10m @ 1.83g/t Au. Anglo formed a joint venture with IGO in 2015 over the eastern half of the Khaleesi project exploring for magmatic Ni-Cu deposits similar to Nova-Bollinger 200km to the south west in the Albany Fraser Belt. In 2016 400m x 400m gravity was completed over most of the KAIC, several square kilometres of moving loop EM, and 2000m of AC drilling led to the discovery of Red Dragon Ni-Cu-Coprospect within the KAIC. Red dragon |
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| was drilled with EIS funded RC (7 holes) and diamond (3 holes) drilling in 2016. A weakly mineralised magmatic Ni-Cu sulphide intrusion was drilled down to 400m. In 2018-2022 Fortescue Metals explored the project for Au and conducted magnetics, surface sampling and AC drilling. An age date was also completed by UWA on the KAIC with a likely magmatic crystallisation of ca 2000 Ma which is the same age as Mt Weld and Ponton. |
||
|---|---|---|
| Geology | • Deposit type, geological setting and style of mineralisation. |
• The Khaleesi alkaline intrusive complex (KAIC) is located on the western edge of the Albany Fraser Belt in the Northern Foreland metagranite unit. The Northern Forland unit is interpreted to be reworked Yilgarn Craton granites. The project is located adjacent to the Mulga Rocks uranium-rare earths-base metals deposits in the Canning Basin. Reprocessing of the magnetics data by Resource Potentials has identifed a 20km intrusion complex with ring features evident on the northern boundary and internal features which may represent sub- intrusions. Geochemical characteristics of the fresh diamond drill core from Red Dragon also offer further support for the alkaline intrusion complex, or A type felsic intrusion, including highly elevated niobium, (Na+K)/Al >1, and negative Eu anomalies on rare earth chondrite plots. Alkaline Intrusive complexes are favourable environments for Nb-REE mineralised carbonatite intrusions and Nb-REE mineralised Syenites and granites. |
| Drillhole information |
• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drillholes: o easting and northing of the drillholecollar o elevation or RL (Reduced Level –elevation above sea level in metres) of the drill hole collar o dip and azimuth of the holeo downhole length and interception deptho hole length.• If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain |
• All AC drill collar locations with in tenements E39/2409 and E39/2410 are shown in Appendix 1, along with maximum assay values for Nb, Y and Au. • All AC drill holes are vertical. • Drill holes with Nb and Y assays from 4 acid digest are also shown in Figures 4 and 5. Drill holes which have no 4 acid digest analysis have been excluded from the Figure. |
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx W ree.investorhub.com/welcome rarex.com.au
RareX Limited RareX HQ ASX:REE Level 1, 338 Barker Road ABN: 65 105 578 756 Subiaco WA 6008 Australia
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| why this is the case. | ||
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| Data aggregation methods |
• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. |
• No Data Aggregation methods have been done |
| Relationship between mineralisation widths and intercept lengths |
• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘downhole length, true width not known’). |
• Elevated Nb values are seen in the full drill profle of many drill holes, from saprolite, to saprock and into fresh rock. Only maximum assay values have been reported in this announcement • The geometry of the elevated Nb with respect to the drill hole angle is not known. • No down hole intervals have been reported, only maximum assay values of Nb, Y and Au for each drill hole |
| Diagrams | • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
• Relevant diagrams are presented in the body of this report. |
| Balanced reporting |
• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
• Reported exploration results are considered balanced. |
| Other substantive exploration data |
• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
• The project area has had extensive geophysical surveys, surface geochemical sampling, and AC drilling. RareX is currently compiling all the data. • Further details will be announced when data has been processed |
RareX Limited RareX HQ P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) ASX:REE Level 1, 338 Barker Road E [email protected] @rarex_asx ABN: 65 105 578 756 Subiaco WA 6008 W ree.investorhub.com/welcome Australia rarex.com.au
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Further work • The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).
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Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
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Compile data sets from historic reports
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Mapping, geochemical surveys, infill geophysics
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AC drilling program
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The project is still being assessed and further details on exploration program specifics will be announced in the near future
RareX HQ Level 1, 338 Barker Road Subiaco WA 6008 Australia
P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) E [email protected] @rarex_asx W ree.investorhub.com/welcome rarex.com.au
RareX Limited ASX:REE ABN: 65 105 578 756