Australian Bauxite Limited (ABx) announced this week the beginning of its third drilling campaign between its Deep Leads and Rubble Mound Rare Earth (REE) plays in an effort at understanding the mineralized areas present there.
The firm said that the current drilling operation is likely to increase the northwest to southeast REE mineralization channel, which previous tests during the second drilling operation in August discovered. Additionally, drilling in the area will also establish important in-fill areas between the two plays as well as examining a new kind of REE mineralization identified to the south.
ABx said it began rig mobilization over the weekend, and drilling at the site is expected to last six weeks. Assays are likely to be returned in batches both as drilling continues and once drilling is completed.
ABx Group MD and CEO Mark Cooksey said in a press release that his firm is eager to see the results of the latest batch of test drills at the site.
“ABx is highly excited to get the drill bit turning again to further test this mineralised corridor and increase the potential for further mineralisation by extending the channel.”
“This third campaign has all the hallmarks of a major expansion of the mineralised area with results anticipated to continue early into the new year and I look forward to keeping the market abreast of our progress,” he continued.
ABx also expects to finalize a maiden JORC Resource Estimation in the near future, and that the results from the new drilling operations to result in an expanded resource estimate early next year.
Based in Sydney, ABx conducts operations in Tasmania, Queensland, and New South Wales. The firm boasts combined JORC resources of 124 million metric tons in twenty-two tenements covering almost two thousand square kilometers in Eastern Australia. Its Binjour tenement in Queensland is considered by the company to be its flagship project.
