Ongoing exploration across a pair of prospects at Asra Minerals’ flagship Mt Stirling Project in WA has returned a clutch of notable rare earths and critical mineral results. The company has so far plunged over 1300 holes for 16,516m at the site and has now confirmed the widespread presence of rare earths, nickel, cobalt and scandium mineralisation in a shallow blanket of weathered rocks.
Recent drilling at Asra’s Wishbone prospect returned a string of total rare earth yttrium oxides, or “TREYO” results grading over 200 parts per million within a 1.3 x .5km wide corridor.
Initial assay results from 27 holes sunk at Wishbone for 311m include 1m at 1032 ppm TREYO plus 75 ppm scandium oxide from 12m. The intercept sat inside a larger 3m section grading 509 ppm TREYO plus 72 ppm scandium oxide from the same depth.
Results from another hole plunged at Wishbone include 115 ppm scandium oxide.
Further south at the Yttria prospect, the company tabled a suite of rare earth results that peaked at 2328 ppm TREYO following the recent admission of 62 new assays for a combined 1985m.
Some of the significant intercepts from Yttria include 1m at 1858 ppm TREYO plus 66 ppm scandium oxide from 10m. The 1m strike sat inside a larger 7m parcel grading 7m at 1073 ppm TREYO plus 61 ppm scandium oxide from 8m.
Results from another hole include 1m going 1328 ppm TREYO with 86 ppm scandium oxide from a depth of just 7m.
The latest campaign also included a probe of an area about 700m south of Yttria. This activity led to the discovery of a cluster of mineralised extensions with grades of up to 376 ppm TREYO.
The exploration breakthrough both pushed the boundaries of the prospect’s footprint and expanded the site’s prospectivity.
Unlike many of its peers, Asra says its rare earths and critical minerals are housed within a near-surface layer of weathered rocks- a characteristic that could ultimately promote low-cost mining opportunities.
In addition, the company believes its assays boast an over 60 per cent ratio of heavy to light rare earths.
The composition means Asra lays claim to a significant proportion of the most valuable magnet rare earths, namely dysprosium, terbium, neodymium and praseodymium.
The materials are lauded and in high demand following their use in the construction of magnets for electric vehicles and wind turbines.
Asra Minerals’ Executive Chairman, Paul Summers said:“The Company’s REEs and critical minerals endowment is shaping up to be unique on an international scale. Asra’s REEs discovery is also distinguished by its close proximity to existing mining infrastructure including water, main roads and rail which further improves the project’s commerciality.”
Asra’s rolling rare earths work at Mt Stirling cements the project as a rousing multi-commodity operation that has allowed the former gold miner to shed its precious metal skin and emerge as a budding player in the new energy space.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
