Regener8 (ASX:R8R) secure a transformational opportunity
July 6, 2023Regener8 Resources has executed option agreements on tenements considered highly prospective for lithium, gold and rare earth just 220 kilometres east of Kalgoorlie in Western Australia.
The East Ponton Future Metals tenement packages sit next to some of the most valuable rare earth drill intercepts ever found in Australia.
The prospects sit around 40 kilometres from Ponton Dyke and the Cundeelee Intrusion, with the former returning eye-opening drill intercepts as high as 16m @ 14.48% while. At the same time, BHP has described Cundeelee as the largest, effectively untested carbonatite on earth.
But development over those has been restricted by their location inside the Queen Victoria Spring Nature Reserve, and experienced prospectors Drew Money and Ross Chandler identified an East Ponton Project lying outside the nature reserve in the same geological domain as those highly prospective targets.
Regener8 Managing Director Stephen Foley said he was excited to explore tenement packages considered transformational for the company.
“The prospects are complementary to our existing gold asset, and provide substantial scale, diversity and allows Regener8 to lean into commodities required for a low carbon future. This dovetails with the Company’s intrinsic approach of placing climate and country front of mind” Mr Foley said.
“Being in the neighbourhood of some of the highest grade (and never followed up) rare earth intersections ever found in Australia presents fantastic blue-sky potential, coupled with prospectivity for lithium and gold provides excellent diversity,” he added.
“Additionally, the tenements located out of the nature reserve means on-ground exploration is not subject to restrictions of neighbouring carbonatite discoveries. We thank Drew and Ross for the opportunity and look forward to working with them and stakeholders over the near term to navigate the potential of the area.”
Both Mr Money and Mr Chandler have seen rare earth successes in an industry where geologists with economic experience is still uncommon, with both involved with Dreadnought Resources and a rare earth discovery at Mangaroon which continues to swell in scale.
Mr Ross will stay involved with his latest find and is committed to support Regener8 on a consulting basis as exploration begins over East Ponton.
Project location map
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