Mount Ridley Mines (ASX:MRD) defines 33km of untested REE and gallium targets in major geophysical breakthrough

Mount Ridley Mines (ASX:MRD) has delivered a materially enhanced understanding of its rare earth and gallium potential following a comprehensive reinterpretation of gravity, magnetic and airborne electromagnetic datasets across the Mount Ridley Project.

The findings establish a distinct and predictive framework that ties directly back to the geological controls observed in established mineralised zones, while also delineating seven high priority targets that combine to form a thirty three kilometre long corridor which remains entirely untested by drilling.

Allister Caird, Chief Executive Officer, discusses the technical insights generated from the review, the relationship between the new targets and the existing resource base, and the way the Company is positioning itself for the next phase of exploration across this expanded prospective footprint.

How has the geophysical reinterpretation improved the company’s understanding of the geological setting and the distribution of REE and gallium mineralisation?

This reinterpretation has allowed us to integrate gravity, magnetic, radiometric and airborne electromagnetic datasets with mineralisation confirmed through drilling, creating a coherent geological picture across the entire project.

When these datasets are combined, we see a strong and repeatable relationship between the geophysical signature, particularly collocated gravity and magnetic highs, and the critical mineral enrichment already defined in Blocks 1 and 2.

This relationship has led to seven high priority walk up drill targets that have the potential to extend the critical mineral resource base at our namesake project.

The airborne electromagnetic dataset adds depth by mapping more advanced weathering profiles, which align closely with the thicker clay hosted mineralisation already defined in the central resource areas.

Together, these integrated datasets give us a technically robust and predictive exploration vector that supports more efficient target prioritisation and exploration planning.

“By combining AEM, gravity and magnetic datasets, we now have a highly predictive exploration framework that clearly aligns with where REE–Gallium mineralisation has already been discovered.”

Why are the seven new high priority targets, and the 33 kilometre corridor they form, considered such an important development?

The significance lies in the scale of the corridor and the strong similarity it shares with the known mineralised zones. The corridor extends for thirty three kilometres, and each target within it exhibits geophysical characteristics consistent with those observed in Blocks 1 and 2.

The most compelling section is the twelve point eight kilometre trend immediately east of Blocks 1 and 2, where a significant portion of the existing gallium resource is inferred.

Several targets in this area exhibit an identical geophysical signature to the resource blocks, which provides a high level of technical confidence even before drilling has taken place.

This corridor represents a substantial near resource expansion opportunity that remains completely untested, and its strong geophysical alignment positions it as a priority for disciplined, systematic follow up targeting.

“The seven new targets display the same geophysical signature as Blocks 1 and 2 yet remain entirely untested, giving us strong confidence in their potential to add to the existing resource.”

How do the magnetic targets complement the gravity derived targets, and what do they suggest about the broader mineralised system?

The magnetic C1 to C7 targets highlight areas of deeper weathering and thicker regolith development, characteristics closely associated with rare earth and gallium mineralisation already recorded across the project, particularly at the Mia Prospect in Block 3.

These magnetic corridors add a further eighty two kilometres of secondary targets that are interpreted to contain thicker clay development, and when we overlay this with the gravity derived targets, the datasets converge into a unified exploration model that supports the presence of multiple mineralised corridors rather than isolated zones.

Given the drill results across our Keith and Winston prospects combined with the mafic basement composition across the broader Grass Patch Complex, we anticipate that REE enrichment across the seven targets will be weighted toward heavies, which is very exciting for our shareholders given heavy rare earths command a premium over lighter magnetic rare earth elements.

This complementary relationship strengthens our ability to rank targets effectively and reinforces a broader, technically grounded expansion strategy.

“Airborne Electromagnetic (AEM) confirms thicker REE–Gallium-mineralised clays where weathering profiles deepen, validating a new target model ahead of drilling.”

How does the existing resource base across Blocks 1, 2 and 3 frame the importance of this newly identified footprint?

Blocks 1 and 2 provide the foundation with an inferred gallium resource totalling five hundred and thirty six point three million tonnes at around thirty parts per million gallium for sixteen thousand one hundred and seventy six tonnes of contained metal.

Block 3 adds a further three hundred and two point four million tonnes at twenty seven point eight parts per million gallium for eight thousand four hundred and eight tonnes of contained metal.

At the Mia Prospect within Block 3, the Company also has an inferred total rare earth oxide resource of one hundred and sixty eight million tonnes at one thousand two hundred and one parts per million TREO, with magnet rare earths representing twenty five percent of the total.

These established resources validate the geological model and demonstrate the scale of the system, especially given that historical drilling has been confined to three main resource areas.

The fact that the newly identified untested corridors sit adjacent to and along strike from these blocks gives us confidence that systematic drilling may meaningfully extend the mineralised footprint.

What are the immediate steps the company is taking to advance exploration across this enlarged search corridor?

Our immediate priority is the reassay of existing pulps to refine the distribution of gallium, heavy rare earths and other critical elements across the mineralised zones.

In parallel, we are progressing our scandium and heavy rare earth assessment programs in Blocks 1 and 2 to further define critical minerals that may complement the magnetic rare earth and gallium resources already established across the project.

We are also considering additional gravity acquisition to support the development of new exploration targets within the recently expanded Grass Patch Complex tenure.

However, our primary operational focus remains on the seven new high priority targets, with the eastern twelve point eight kilometre corridor being the most significant area of immediate interest.

Early stage drill planning and permitting are already underway so that once we have finalised our ranking and prioritisation, we can move forward with a structured drill program targeting the strongest geophysical signatures and those with the highest potential to expand the critical mineral resource base at Mount Ridley.

“The results clearly demonstrate that significant upside remains across Mt Ridley, and we look forward to advancing these targets through systematic drill testing.”

A strengthened technical platform supporting the next phase of drilling

The reinterpretation has repositioned Mount Ridley Mines with a significantly improved geological understanding and a clearly defined suite of high quality targets that mirror the characteristics of existing mineralised zones.

With a thirty three kilometre corridor of untested ground now established and strong alignment between geophysical expression and known mineralised blocks, the Company enters the next exploration phase with a strengthened technical framework and a more focused operational pathway.

Under the leadership of Allister Caird, Chief Executive Officer, the Company is advancing multiple workstreams that include reassay programs, targeted geophysical acquisition, resource assessments and early stage permitting in preparation for systematic drilling across the newly defined high priority corridors.

This positions Mount Ridley Mines for the next sequence of resource growth and project progression

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