Australian Rare Earths has increased the mineral resource estimate for its Koppamurra clay-hosted rare earths project by 25 per cent following an exploration program at the SA site.
This represents an increase to 101 million tonnes at 818 parts per million (ppm) of total rare earth oxide (TREO).
Results also increased the indicated resource by 40 per cent to 63 million tonnes, increasing the grade to 839ppm TREO.
Put simply, the Koppamurra project is host to much more rare earth than originally estimated.
Exploration has so far revealed the presence of praseodymium oxide, neodymium oxide, terbium oxide and dysprosium oxide, all of which are essential elements for making magnets.
Such materials are integral components in electric vehicle motors, wind turbines, and a variety of appliances across countless industries. Magnet rare earths help reduce power consumption and consequently help to reduce emissions.
Australian Rare Earths acting managing director Rick Pobjoy said the company was excited by the revealed potential of the Koppamurra project.
“Koppamurra’s Tier 1 jurisdiction location, together with a rare earth element suite that offers the potential to supply both the light and heavy rare earths required for high-strength permanent magnets, offers significant optionality with multiple low-cost pathways to further expand and enhance the project,” he said.
“The company has demonstrated that rapid and progressive rehabilitation can be easily undertaken. All of these factors distinguish Koppamurra as a unique rare earth business opportunity.
“Koppamurra is one of only very few advanced ionic clay-hosted rare earth deposits located outside of China or Myanmar. The project it is now clearly emerging as one of both scale and quality.”
Australian Rare Earths has planned an accelerated program of follow up drilling at new exploration sites to further expand the resource base.