{"id":4299,"date":"2024-01-12T03:19:42","date_gmt":"2024-01-12T03:19:42","guid":{"rendered":"https:\/\/economicherald.net\/?p=4299"},"modified":"2024-01-12T03:19:42","modified_gmt":"2024-01-12T03:19:42","slug":"a-mash-up-for-the-ages-ark-mines-gets-currumbin-minerals-on-the-decks-at-sandy-mitchell","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4299","title":{"rendered":"A mash up for the ages? Ark Mines gets Currumbin Minerals on the decks at Sandy Mitchell"},"content":{"rendered":"<p>A MoU for Currumbin Minerals to process ore from Sandy Mitchell has been inked<br \/>\nHeavy mineral sands mineralisation observed in every Stage 2 drill hole<br \/>\nAssays from the drilling to form the basis of a maiden resource estimate<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em><\/strong><strong>: Ark Mines has signed a memorandum of understanding (MoU) with Currumbin Minerals to process rare earths and heavy mineral sands from its Sandy Mitchell project in North Queensland \u2013 a low capex and opex operation that could be in production within the next 18 months.<\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/ark-mines-ahk\/\"><strong>Ark Mines (ASX:AHK)<\/strong><\/a> acquired the 140km2 Sandy Mitchell advanced rare earths (REE) and heavy mineral sands (HMS) project in March last year for just $200,000, where <a href=\"https:\/\/stockhead.com.au\/resources\/ark-mines-accidental-rare-earths-discovery-in-qld-could-be-in-production-within-18-months\/\"><strong>exploration has since indicated shallow mineralisation can be mined easily and inexpensively<\/strong><\/a> within the next two years.<\/p>\n<p>Initially combed for uranium in the 1980s, exploration at the landholding has since discovered Sandy Mitchell is host to one of the ASX\u2019s only inland surface expressed sand placer deposits able to produce high-grade REE and HMS concentrate.<\/p>\n<p>Placer deposits are attractive due to their shallow mineralisation, meaning that a resource can easily be defined using low-capex exploration methods such as aircore and auger drilling.<\/p>\n<p>Mining can then be done inexpensively without the need for tailings dams or waste piles.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>REE and HMS mineralisation \u2018in every hole\u2019<\/strong><\/h2>\n<p>Phase 1 drilling saw 144 holes completed with assets returning an impressive 51.9% total rare earth oxides (TREO) containing mostly lanthanum, cerium and high-value neodymium and praseodymium (NdPr), as well as the heavy rare earths of dysprosium and terbium.<\/p>\n<p>While metallurgical test work showed that recoveries from gravity feed to concentrate could achieve 83.8%.<\/p>\n<p>A Phase 2 program (2,426m) at an average drill depth of just 12.9m \u2013 demonstrating REE and HMS mineralisation in every hole \u2013 has just been completed and will undergo further test work to form the basis of a maiden resource estimate and underpin project development.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Currumbin processing deal<\/strong><\/h2>\n<p>The framework of the MoU is for the supply and delivery of mineral sands containing REEs and HMS to Currumbin\u2019s new state-of-the-art processing and treatment facility in southeast Queensland, whereby AHK will then sell concentrates at commercial market rates.<\/p>\n<p>AHK will mine and haul HMS ore from Sandy Mitchell and negotiate treatment rates pertaining to transport costs, metallurgical recovery rates and plant suitability.<\/p>\n<p>Currumbin\u2019s plant is high tech and one of the only of its kind in Australia \u2013 upgraded to an operating capacity for HMS processing and mineral extraction rate of up to 100t of sand per hour.<\/p>\n<p>AHK expects that the demand outlook and drilling results to date, together with the MoU, will be a catalyst for the company to move rapidly from exploration into development within 18 months.<\/p>\n<p>\u00a0<\/p>\n<p>Currumbin Minerals\u2019 new state-of-the-art processing and separation plant. Source: AHK<\/p>\n<p>\u00a0<\/p>\n<p>AHK executive director Ben Emery says the MoU marks the next step in the commercialisation strategy for Sandy Mitchell, and reflects the high degree of interest the project has received from development partners and the Queensland mining industry more broadly.<\/p>\n<p>\u201cCurrumbin Minerals are best-in-class for the processing and treatment of mineral sands, and the MOU framework has been established jointly with a high degree of cooperation in a way that leverages the respective strengths of both parties,\u201d Emery says.<\/p>\n<p>\u201cIn that context, Ark Mines is well-placed to benefit from Currumbin\u2019s expertise in end-to-end logistics, including the transport of raw materials and the potential export and sale of HM and REE concentrate.<\/p>\n<p>\u201cRecent drill results reaffirmed the company\u2019s view that Sandy Mitchell has the potential to develop into one of Australia\u2019s premier REE projects, highlighted by strong mineralisation with simple extraction through beneficiation by gravity processing.<\/p>\n<p>\u201cThe field team is now executing on its stated strategy to significantly expand exploration in 2024 and we look forward to providing more operational updates in the months ahead, along with our targeted strategy for optimised downstream processing with our commercial development partners.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Ark Mines, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/a-mash-up-for-the-ages-ark-mines-gets-currumbin-minerals-on-the-decks-at-sandy-mitchell\/\">A mash up for the ages? Ark Mines gets Currumbin Minerals on the decks at Sandy Mitchell<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>A MoU for Currumbin Minerals to process ore from Sandy Mitchell has been inked Heavy mineral sands mineralisation observed in every Stage 2 drill hole <a href=\"https:\/\/economicherald.net\/?p=4299\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4300,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A mash up for the ages? Ark Mines gets Currumbin Minerals on the decks at Sandy Mitchell - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=4299\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A mash up for the ages? 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