According to the According to the report, the sample contained 4 percent dysprosium and 0.7 percent terbium, more than twice as much as any other of its kind. The company added that these high percentages indicate that the price of the ABx METC basket is 17 to 51 percent higher than all comparable METCs.
Deep Leads is one of ABx’s priority projects, with the project becoming the first company to discover rare earth elements in Tasmania.
Are The JORC compliant mineral resource amounts to 89 million tonnes in the Rubble Mound and Wind Break deposits.
The company engaged ANSTO to conduct desorption tests.
said ABx on his website that ANSTO “found the highest extractions under relatively neutral pH conditions reported from any clay-hosted source in Australia.”
“We have been eagerly awaiting confirmation of this MREC product, which is simply the best we know of any ionic rare earth source outside of China,” said Mark Cooksey, general manager and CEO of ABx.
He added that this result, in addition to Deep Leads’ size, quality and location, makes it a very attractive opportunity and encourages strong investor interest.
The project also puts Tasmania on the rare earth map, with ABx anticipating attention from customers seeking high dysprosium and terbium and low uranium and thorium.
ABx said the next steps include sharing the METEC composition and samples with potential customers and offtake partners for further evaluation.
Column leaching tests on a bulk sample of Deep Leads will be conducted next, with preliminary results expected in December.
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Securities Disclosure: I, Gabrielle de la Cruz, have no direct investment interest in any company mentioned in this article.
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