Voltaic (ASX:VSR) hit thick at Neo
June 15, 2023Voltaic Strategic Resources has returned multiple rare earth intercepts close to 80 metres thick from the very surface of the Neo prospect, putting the presence of an extensive clay-hosted rare earth system beyond doubt at Paddy’s Well in the Gascoyne.
The intercepts are potentially some of the widest in Australia, and given mineralisation remains open at depth and along strike within a largely untested 12 square kilometre area, they significantly raise the potential for large-scale, open pit mining.
Voltaic Managing Director Michael Walshe said that with results continuing to light up a large-scale system, it could turn its attention to metallurgy and money.
“We now have unequivocal evidence for the presence of a large alumina-rich, kaolinitic REE clay system at Neo, which has the potential for hosting a near-surface “open-pittable” REE clay deposit of substantial scale,” Mr Walshe said.
He added metallurgical testing was already underway to determine preliminary economic viability and absorption potential and that halloysite, an indicator of accurate ionic adsorption deposits, had already been identified.
“The ‘size by assay’ analysis work has been completed and the preliminary results are encouraging for a significant upgrade in REE grades and the removal of waste, by undertaking simple upstream mineral processing techniques,” he said.
With leach testwork set to begin next week, Walshe said the company’s field work will now turn to the primary hard rock, carbonatite rare earth, and niobium targets across the project.
“We will soon undertake several field surveys including: airborne magnetics / radiometrics, photogrammetry, and soil sampling. These programs will increase our pool of priority targets and ensure several months of highly active and material news flow over the remainder of 2023,” he said.
The hunt for Australian clay
While most of Australia’s current production comes from carbonatite sources, it holds significant potential for ionic adsorption of clay rare earth deposits, which have now been identified in several regions nationwide.
Typically the most economically significant deposits, IAD types, hold rare earth present in a form that can be readily leached, simplifying extraction and reducing the need for extensive mining operations.
The deposits often hold high proportions of light rare earth elements like cerium, lanthanum, and neodymium. At the same time, Voltaic have noted encouraging ratios of high-demand magnet rare earth up to 30 per cent coming from Neo.
Newsflow
Across the next two months, Voltaic will have an update on geophysical data acquisitions at Paddy’s Well, with more drill sample assays set to come in from the Link prospects ahead of a much-anticipated update from Neo and results from phase 2 LCT drilling at Ti Tree.
Significant new assay results
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