Rare earths continue to grab the ressie limelight, with Ark Mines unveiling 21.7Mt REE and mineral sands resource
\nOra Gold teams up with Westgold to bring OAU\u2019s high-grade Crown Prince deposit into production
\nLord Resources and Falcon Metals are also still flying high on the ASX today<\/p>\n
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Here are some of the biggest resources winners in early trade, Thursday May 30.<\/em><\/p>\n \u00a0<\/p>\n Minerals explorer Ark Mines is well up today thanks to a \u201crobust\u201d Maiden Indicated Mineral Resource Estimate (MRE) at its Sandy Mitchell rare earth and heavy mineral project in northern Queensland.<\/p>\n It\u2019s an \u201cexpectations exceeded\u201d outcome this one, delivering an MRE of 21.7Mt at 1,419ppm Monazite Equivalent calculated using a 700ppm MzEq lower cut-off grade, the company notes.<\/p>\n And it reportedly places Sandy Mitchell as the \u201cfirst surface-expressed Placer Rare Earth deposit with a JORC resource on the ASX\u201d.<\/p>\n The reported MzEq grades are now expected by the company to \u201csupport strong project economics through simple low-cost downstream processing\u201d.<\/p>\n The resource includes a bunch of high-value heavy minerals, including: monazite at 674ppm; zircon at 699ppm; rutile at 622ppm; xenotime at 89ppm; and ilmenite at 11,365ppm.<\/p>\n Want further context? Ark Mines executive director Ben Emery is good for that. He said:<\/p>\n \u201cThis maiden MRE has significantly exceeded our expectations. We have consistency in grade from surface to basement for a basket of high value minerals including combined Heavy Mineral grades of 13,450ppm.<\/p>\n \u201cThe commercialisation pathway for Sandy Mitchell is now more clearly defined, given the fact it is the simplest REE style of deposit to mine and beneficiate. Importantly, the MzEq grades of 1,419ppm are also indicative of potential commercial scale based on current market prices for monazite concentrate.\u201d<\/p>\n Read more > here<\/a><\/p>\n Q: Metallurgical test work has returned strong results to-date, with final concentrate assays of 51.9% TREO. Does this MRE further support the project’s downstream economics? WATCH: https:\/\/t.co\/GkXAUMiKGX<\/a> $AHK<\/a> $AHK.ax<\/a> #ASX<\/a> #ASXnews<\/a> pic.twitter.com\/2U3dK4Ejps<\/a><\/p>\n \u2014 Ark Mines Limited (@arkmineslimited) May 30, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> This WA and NT-focused goldie is gearing up to \u00a0join forces with miner Westgold (ASX:WGX)<\/a> to bring OAU\u2019s high-grade 240,000oz Crown Prince deposit into production.<\/p>\n WGX will also pick up $6m worth of shares in the junior for a ~15% cornerstone stake.<\/p>\n Crown Prince hosts a Mineral Resource of 240koz at 4.1g\/t Au and is located on a granted mining lease with a Native Title Agreement in place.<\/p>\n The deposit is located approximately 33km northwest from Westgold\u2019s Bluebird mill at Meekatharra, WA. Meekatharra is a major supply centre for the minerals-rich Murchison mining region.<\/p>\n As part of the two companies\u2019 strategic alliance, ORA and WGX will agree upon the terms of an ore purchase agreement.<\/p>\n Ora\u2019s CEO, Alex Passmore, said this:<\/p>\n \u201cWe are very pleased to announce the Westgold Strategic Alliance and Placement, which provides a short and tangible pathway to production and cash flow from Crown Prince.<\/p>\n \u201cOra and Westgold will work collaboratively over the next few months to define the development timetable. This alliance with a large regional operator with extensive processing infrastructure gives us strong confidence in the potential for future economic extraction of other advanced projects within our tenure.\u201d<\/p>\n Ora Gold Limited (ASX: OAU) is pleased to advise it has entered into a binding agreement with Australian gold producer Westgold Resources Limited (WGX:ASX, OTCQX: WGXRF) in relation to a strategic co-operation relationship and $6.0 million placement.https:\/\/t.co\/L3nJR3ViWj<\/a> pic.twitter.com\/5TsCiwpTIr<\/a><\/p>\n \u2014 Ora\u00a0Gold\u00a0(ASX:OAU) (@Ora_goldASX) May 30, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Infill soil sampling work has confirmed multiple, large high-priority lithium-caesium-tantalum geochemical anomalies at Lord\u2019s 100%-owned Jingjing lithium project in WA\u2019s Eastern Goldfields.<\/p>\n This news has pushed LRD up another 15% so far today, and it\u2019s now up about 18% over the past seven days.<\/p>\n Jingjing, which was acquired in May 2023, consists of two tenements that sit within the \u201cGoldilocks Zone\u201d for lithium-caesium-tantalum deposits. Jingjing is being explored independently of the company\u2019s Horse Rocks, where exploration is being undertaken under a\u00a0strategic partnership with Mineral Resources (ASX:MIN)<\/a>.<\/p>\n Read more on this >\u00a0here<\/a>.<\/p>\n And tune in to hear Lord Resources\u2019 Georgina Clark\u00a0talk about the soil sampling program, the company\u2019s flagship Horse Rocks project, and more > here<\/a>.<\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> (Up on Tuesday\u2019s news)<\/strong><\/em><\/p>\n Falcon, a Bendigo-focused goldie, is still flying pretty high on its high-grade mineral sands discovery announced a couple of days ago.<\/p>\n Falcon has has received high-grade results for its 91-hole aircore (AC) drilling program at its Farrelly mineral sands prospect in Victoria, which is a follow-up on high-grade reconnaissance drilling results announced in early March.<\/p>\n The new results confirm Farrelly as a high-grade mineral sands discovery with a thick zone of mineralisation (Main Zone) now defined covering an area of about 1,200 metres by 600 metres and remaining open in several directions.<\/p>\n Significant drill intercepts include: 26m at 8.9% THM (total heavy mineral concentrate) from 6m, with 15m at 12.9% THM from 13m; and 22m at 9.2% THM from 8m, including 12m at 15.1% THM from 16m as well as 3m at 20.3% THM from 21m.<\/p>\n High-grade #mineralsands<\/a> discovery at our Farrelly Mineral Sands Prospect in Victoria defined over a ~1,200m x ~600m area. From 91 holes drilled, 33 holes contained intersections >10% THM, with 11 holes containing intersections >20% #THM<\/a>.<\/p>\n Read: https:\/\/t.co\/66N49brJqI<\/a>$FAL<\/a> pic.twitter.com\/GZroNNCLse<\/a><\/p>\n \u2014 Falcon Metals Limited (@FalconMetalsLtd) May 28, 2024<\/a><\/p>\n\n The company also notes that \u201cseveral additional high-grade intercepts up to 5km from the discovery indicate a potentially significant scale strandline-style system which requires further drilling to define\u201d.<\/p>\n Zircon, ilmenite, and rutile are in play here, as well as potential rare-earth-element bearing monazite and xenotime, which are in-demand critical minerals.<\/p>\n In addition to being used as components in many household uses, mineral sands are being increasingly used in energy transition infrastructure.<\/p>\n Falcon Metals\u2019 MD Tim Markwell said:<\/p>\n \u201cThe results at Farrelly are quite outstanding and define what appears to be a discovery of a continuous zone of high-grade heavy mineral sands over a sizable area, which remains open.<\/p>\n \u201cWhile it is early days in our understanding of Farrelly, with more drilling and test work required, it is shaping up to become a significant mineral sands deposit, in proximity to other major deposits, but at far higher grades.\u201d<\/p>\n \u00a0<\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n At Stockhead we tell it like it is. While Ark Mines and Lord Resources are Stockhead advertisers, they did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 4: REE gains not so rare lately \u2013 Ark Mines bursts up on major deposit reveal<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Ark Mines (ASX:AHK)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nOra Gold (ASX:OAU)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nLord Resources (ASX:LRD)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nFalcon Metals (ASX:FAL)<\/strong><\/a><\/h2>\n