ABx Group (ASX: ABX) breaksthrough at Deep Leads REE project

ABx Group drilling has encountered “exceptionally” thick, shallow zone combining with previous results to confirm a 6.5 kilometre mineralised channel connecting the Company’s Deep Leads and Rubble Mound rare earth discoveries in northern Tasmania.

The clay-hosted rare earth elements occur within a shallow channel structure that increases the prospect size by 27 per cent to 5.1 square kilometres.

The Company said the find demonstrates the potential for the mineralised zone to deliver thick intersections as well as expand significantly along strike.

The combined prospective area to be drill tested has increased to more than 30km2 as shown in with the connecting area increases potential for further mineralisation and also highlights opportunity to further extend the channel and feed into maiden JORC Resource Estimation which is underway

“Our latest results represent a milestone moment in our development of the rare earth channel at Deep Leads and Rubble Mound,” Managing Director and CEO Dr Mark Cooksey said.

“The extensive channel structure has connected and combined the two discoveries into a single deposit.

“Excitingly, the mineralisation has also been shown to return results which are thick – exceeding 20 metres thickness – and near-surface.

“These are only first-pass results, with this emerging discovery possessing clear potential to significantly expand the mineralised corridor between the connected areas as well as along strike.

A planned follow-up drilling campaign of ~70 holes is anticipated to commence in October 2022.

About ABx Group

ABx Group (ABX, formerly ABZ) is a bauxite exploration and development company. ABX has bauxite deposits in Queensland, New South Wales and Tasmania.

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