ABX Group (ASX:ABX) ‘gets the drill bit turning again’ in Tasmania
October 11, 2022ABx Group Limited will chase the extent of REE along a 6.5-kilometre trending mineralisation corridor at its Deep Leads and Rubble Mound rare earth discoveries in northern Tasmania.
A 70-hole RC drilling campaign will expand the NW-SE trending REE mineralisation channel discovered in the final holes of the last campaign, where the trend was discovered in the previous two holes in August.
Drilling will also test key in-fill targets identified between Deep Leads and Rubble Mound and inspect a new style of REE mineralisation encountered in river flats to the south.
The Company said drilling the RC rig is onsite, with results from the expected 6-week campaign arriving in batches from early November and into early CY2023.
“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,” Managing Director and CEO Mark Cooksey said.
“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.
“I look forward to keeping the market abreast of our progress.”
The Company’s ASX-listed shares are 15.5c at Market Open.
About the campaign
This 3rd drilling campaign will consist of aircore RC drilling and push-tube coring totalling 800 metres. The campaign is designed to follow up on the previous campaigns of first-pass exploratory drilling that discovered a continuation of the REE mineralisation for the entire distance between Deep Leads and Rubble Mound Rare Earth discoveries. That exploratory drilling confirmed the contiguous mineralised corridor, which remains open for possible extensions to the east, north and south that all warrant further drill testing, as is planned in this 3rd drilling campaign. The previous drilling campaign results highlighted clay-hosted REEs within a shallow channel structure that increased the prospect size by 27 per cent to 5.1 km2 and demonstrated the potential for the mineralised zone to deliver thick intersections. Assay results and ABx’s knowledge of this REE mineralisation have also expanded the project, increasing the combined prospective area to be drill tested to more than 30km2. In addition, ABx anticipates finalising a maiden JORC Resource Estimation based on drilling results to date in the next few weeks, with results from the upcoming drilling campaign to feed into an expanded resource estimate anticipated in 1Q CY2023.
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