PETRATHERM LIMITED
ACN 106 806 884
ASX: PTR
www.petratherm.com.auadmin@petratherm.com.au
ASX ANNOUNCEMENT
20/04/2022
Drilling uncovers major High-Value Rare Earth Discovery at Comet in the Northern Gawler Craton
HIGHLIGHTS
Petratherm redefines the mineral prospectivity of the Northern Gawler Craton of South Australia after Greenfield's regional RAB drilling supported by South Australian Government Exploration Initiative Co-Funding uncovers significant rare earth (REE) occurrences.
Shallow RAB drilling tested the top 3 metres of the prospective clay horizon. Mineralisation encountered, includes impressive concentrations of high-value REE's which remain open at depth below and out into surrounding areas.
Notable drill intercepts include:
High Value
Hole
Interval
Magnet Rare Earths*
703
3m @ 2,819 ppm TREO from 15m - 18m (EOH)
743 ppm
704
3m @ 2,660 ppm TREO from 15m - 18m (EOH)
702 ppm
590
3m @ 2,701 ppm TREO from 15m - 18m (EOH)
1,016 ppm
799
3m @ 1,813 ppm TREO from 12m - 15m (EOH)
456 ppm
931
3m @ 1,705 ppm TREO from 12m - 15m (EOH)
382 ppm
T14_RC10
4m @ 3,042 ppm TREO from 36m - 40m
814 ppm
(* Magnet Rare Earths = Pr6O11, Nd2O3, Tb4O7 & Dy2O3)
• All 44 holes assayed returned significant results with 23 holes returning TREO > 1,000ppm.
• REE intercepts in clays show striking similarities and comparable grades to the ion-absorption rare earth deposits of China which are a major world supplier.
• Deeper RC drilling into crystalline basement rock below REE enriched clays at the Target 14 Prospect intersected zones of primary REE mineralisation. This may represent a potential source rock for the mineralisation and petrological analysis of the REE enriched basement rock is underway.
10,000 metre RAB drilling program scheduled to start in three weeks to test extent of mineralisation. Initial JORC resource potentially defined within six months.
Petratherm has a strong ground position in the Northern Gawler Craton, totalling 1,885 Km2. There is large upside for further important new REE Prospects in surrounding un-explored areas.
INTRODUCTION
Petratherm Limited (ASX: PTR) is pleased to announce assay results of Rare Earth (REE) drill intersections from the Comet Project Area (EL 6443 & EL 6633) in the Northern Gawler Craton of South Australia. Samples from 44 shallow RAB drill holes returned significant REE mineralised clay intersections outlining several regionally significant Prospect Areas. The results presented are for the most part 3 metre composite bottom hole samples taken from the Company's ongoing regional RAB geochemical sampling program and the mineralisation encountered remains open at depth and out into surrounding areas.
Full suite REE analysis of the 44 drill holes was undertaken following recognition of anomalous light REE (cerium and lanthanum) and other REE path finder elements from the Company's initial assay work. In addition to the 44 holes presented herein, a further 111 drill holes of the 993 shallow RAB holes drilled thus far contain evidence for elevated REEs. These samples are now undergoing analysis to better characterise the extent of REE mineralisation in the region.
First pass drilling was completed on a 400 metre X 400 metre spaced grid and the newly defined REE Prospect areas have been shown to be regionally extensive extending several kilometres (Figure 1).
REE 1 Anomaly - Area 1 is a broad northeast trending anomaly extending over an approximate 9 kilometre by 2-kilometre area (Figure 1). The 10 holes sampled to date in this area have returned a top of clay 3 metre composite Total Rare Earth Oxide (TREO) grade ranging between 703 ppm to 2,819 ppm. The area includes the Target 14 Gold Prospect where REE assaying of the crystalline basement rock below the clay interval has also returned highly anomalous REE's, with drill hole T14_RC10 intercepting 4m @ 3,042 ppm TREO from 36m - 40m. The presence of primary REE mineralisation in fresh rock below the REE clays is highly encouraging, confirming the presence of local REE source rocks.
Drill Hole 703 records 3m @ 2,819 ppm from 15m to end of hole and Hole 704 which is the adjacent hole 400m to east, returned 3m @ 2,660 ppm TREO from 15m to end of hole. These holes contain exceptional high value Magnet REE grades of 743 ppm and 702 ppm respectively. Another 50 drill holes with anomalous REEs and/or REE pathfinder elements from within Area 1 are with ALS laboratories undergoing analysis.
REE2 Anomaly - Area 2 REE anomaly extends over an approximate 3 kilometre by 1.5-kilometre area and broadly overlies a prominent magnetic basement rock complex (Figure 2). Research is underway to determine if the magnetic complex is the source of the REE mineralisation in the area. A further 37 drillholes at REE2 have returned anomalous samples which are now with ALS for analysis.
Other Early Stage REE Anomalies - Several single and multi-hole regional spaced drill holes (Figure 1) have returned highly significant REE grades including:
Hole 590
3m @ 2,701 ppm TREO from 15m - 18m (EOH) of which 1,016 ppm are High-Value Magnet REEsand
Hole 931
3m @ 1,705 ppm TREO from 12m - 15m (EOH)
Comet Project - Table of all REE Intercepts | ||||||||||||
Drill HoleFromToIntervalTREO metresmetres metres ppm | High Value Magnet Rare Earths Praseodymium Neodymium Pr6O11 Nd2O3 Terbium Tb4O7 Dysprosium Dy2O3 ppm % TREOppm % TREOppm % TREOppm % TREO | |||||||||||
280 | 18 | 22 | 4 | 980 | 36.25 | 3.70 | 109.76 | 11.20 | 1.13 | 0.12 | 6.5 | 0.66 |
358 | 8 | 12 | 4 | 972 | 42.65 | 4.39 | 137.05 | 14.11 | 2.22 | 0.23 | 12.9 | 1.33 |
400 | 8 | 12 | 4 | 877 | 52.80 | 6.02 | 177.29 | 20.23 | 1.58 | 0.18 | 9.3 | 1.06 |
404 | 9 | 12 | 3 | 1322 | 67.66 | 5.12 | 205.29 | 15.53 | 1.98 | 0.15 | 10.6 | 0.80 |
428 | 14 | 18 | 4 | 654 | 29.12 | 4.45 | 92.03 | 14.08 | 1.01 | 0.15 | 6.8 | 1.03 |
475 | 6 | 9 | 3 | 1088 | 53.76 | 4.94 | 194.21 | 17.85 | 2.57 | 0.24 | 16.4 | 1.51 |
484 | 8 | 12 | 4 | 1205 | 76.84 | 6.38 | 261.27 | 21.68 | 3.25 | 0.27 | 17.3 | 1.44 |
493 | 9 | 15 | 6 | 868 | 42.17 | 4.73 | 152.62 | 17.58 | 2.52 | 0.29 | 15.1 | 1.74 |
567 | 9 | 12 | 3 | 1030 | 61.86 | 6.00 | 212.87 | 20.66 | 2.52 | 0.24 | 14.5 | 1.41 |
586 | 18 | 21 | 3 | 550 | 23.74 | 4.31 | 72.20 | 13.12 | 0.61 | 0.11 | 2.9 | 0.53 |
590 | 15 | 18 | 3 | 2701 | 216.27 | 8.01 | 744.16 | 27.55 | 10.08 | 0.37 | 45.2 | 1.67 |
TG14RB01 | 28 | 30 | 2 | 906 | 48.81 | 5.39 | 177.88 | 19.63 | 1.51 | 0.17 | 8.2 | 0.90 |
638 | 9 | 12 | 3 | 1013 | 66.09 | 6.52 | 229.20 | 22.62 | 3.02 | 0.30 | 14.2 | 1.40 |
639 | 12 | 15 | 3 | 1140 | 74.30 | 6.52 | 244.94 | 21.49 | 3.60 | 0.32 | 18.9 | 1.66 |
703 | 15 | 18 | 3 | 2819 | 149.21 | 5.29 | 562.20 | 19.95 | 4.71 | 0.17 | 27.1 | 0.96 |
704 | 15 | 18 | 3 | 2660 | 141.36 | 5.31 | 530.71 | 19.95 | 4.47 | 0.17 | 25.7 | 0.97 |
707 | 19 | 22 | 3 | 1225 | 71.65 | 5.85 | 246.11 | 20.09 | 4.38 | 0.36 | 21.1 | 1.72 |
710 | 12 | 15 | 3 | 1081 | 59.56 | 5.51 | 199.45 | 18.46 | 3.19 | 0.29 | 15.9 | 1.47 |
733 | 24 | 27 | 3 | 848 | 35.16 | 4.15 | 124.22 | 14.65 | 1.62 | 0.19 | 7.9 | 0.93 |
744 | 18 | 21 | 3 | 1142 | 77.20 | 6.76 | 278.77 | 24.41 | 3.62 | 0.32 | 16.9 | 1.48 |
750 | 20 | 24 | 4 | 1165 | 67.90 | 5.83 | 258.94 | 22.22 | 5.72 | 0.49 | 30.3 | 2.60 |
757 | 12 | 15 | 3 | 568 | 36.49 | 6.43 | 137.64 | 24.24 | 1.76 | 0.31 | 7.8 | 1.37 |
785 | 5 | 15 | 10 | 710 | 33.04 | 4.65 | 120.02 | 16.90 | 2.50 | 0.35 | 13.4 | 1.89 |
790 | 12 | 15 | 3 | 626 | 21.87 | 3.49 | 78.15 | 12.48 | 2.09 | 0.33 | 12.3 | 1.96 |
799 | 12 | 15 | 3 | 1813 | 88.80 | 4.90 | 333.59 | 18.40 | 5.80 | 0.32 | 27.9 | 1.54 |
800 | 8 | 12 | 4 | 1121 | 53.64 | 4.79 | 212.87 | 18.99 | 4.63 | 0.41 | 22.6 | 2.01 |
804 | 8 | 14 | 6 | 780 | 40.60 | 5.20 | 155.13 | 19.88 | 2.58 | 0.33 | 11.3 | 1.44 |
808 | 10 | 14 | 4 | 1248 | 65.00 | 5.21 | 242.61 | 19.45 | 2.62 | 0.21 | 11.5 | 0.92 |
and | 22 | 24 | 2 | 728 | 37.09 | 5.10 | 137.05 | 18.83 | 1.91 | 0.26 | 8.1 | 1.11 |
822 | 10 | 15 | 5 | 758 | 37.51 | 4.95 | 132.68 | 17.51 | 2.18 | 0.29 | 11.6 | 1.53 |
855 | 9 | 12 | 3 | 1418 | 67.66 | 4.77 | 251.94 | 17.77 | 4.94 | 0.35 | 25.7 | 1.81 |
875 | 15 | 17 | 2 | 1041 | 63.91 | 6.14 | 236.78 | 22.74 | 2.81 | 0.27 | 14.2 | 1.36 |
877 | 9 | 15 | 6 | 712 | 37.21 | 5.23 | 132.97 | 18.67 | 2.05 | 0.29 | 10.6 | 1.49 |
886 | 15 | 18 | 3 | 728 | 41.68 | 5.72 | 144.05 | 19.78 | 1.83 | 0.25 | 9.9 | 1.36 |
901 | 15 | 18 | 3 | 495 | 22.65 | 4.58 | 76.87 | 15.53 | 1.35 | 0.27 | 7.6 | 1.54 |
931 | 12 | 15 | 3 | 1705 | 83.49 | 4.90 | 286.93 | 16.83 | 1.98 | 0.12 | 9.5 | 0.56 |
953 | 8 | 12 | 4 | 682 | 29.36 | 4.31 | 105.21 | 15.43 | 1.89 | 0.28 | 10.4 | 1.53 |
961 | 15 | 18 | 3 | 873 | 46.64 | 5.34 | 147.55 | 16.90 | 1.58 | 0.18 | 8.4 | 0.96 |
21T14RC03 | 12 | 16 | 4 | 1298 | 72.37 | 5.58 | 271.77 | 20.94 | 1.14 | 0.09 | 5.9 | 0.45 |
and | 44 | 48 | 4 | 1179 | 65.00 | 5.51 | 246.11 | 20.87 | 1.09 | 0.09 | 5.8 | 0.50 |
21T14RC08 | 8 | 16 | 8 | 962 | 52.13 | 5.42 | 186.92 | 19.44 | 0.65 | 0.07 | 2.9 | 0.30 |
21T14RC10 | 12 | 16 | 4 | 817 | 44.34 | 5.42 | 155.71 | 19.05 | 0.68 | 0.08 | 3.4 | 0.42 |
and | 36 | 40 | 4 | 3042 | 169.15 | 5.56 | 640.35 | 21.05 | 1.00 | 0.03 | 3.4 | 0.11 |
and | 52 | 56 | 4 | 829 | 46.27 | 5.58 | 174.38 | 21.03 | 0.66 | 0.08 | 3.5 | 0.42 |
21T14RC12 | 20 | 24 | 4 | 1147 | 62.71 | 5.47 | 239.11 | 20.84 | 1.53 | 0.13 | 8.6 | 0.75 |
21T14RC13 | 36 | 40 | 4 | 604 | 31.41 | 5.21 | 118.97 | 19.71 | 0.88 | 0.15 | 4.8 | 0.79 |
21T14RC14 | 8 | 12 | 4 | 749 | 40.23 | 5.37 | 146.97 | 19.63 | 0.58 | 0.08 | 2.7 | 0.37 |
and | 24 | 28 | 4 | 727 | 38.30 | 5.27 | 139.38 | 19.16 | 0.89 | 0.12 | 4.9 | 0.67 |
and | 32 | 36 | 4 | 1361 | 74.91 | 5.50 | 276.44 | 20.31 | 0.66 | 0.05 | 2.4 | 0.18 |
and | 44 | 48 | 4 | 1295 | 74.06 | 5.72 | 276.44 | 21.34 | 0.76 | 0.06 | 3.2 | 0.25 |
21T14RC18 | 24 | 28 | 4 | 804 | 34.19 | 4.25 | 132.97 | 16.53 | 3.01 | 0.37 | 18.3 | 2.28 |
Table 1 Comet Project - Summary Table of all REE drill intersections analysed
Figure 1 Comet Project REE Results Overview Map
(*Anomalous Drillhole = anomalous Ce and/or La and/or REE path finder element(s) Th, Sr & P)
It is important to note that sample results are for the most part single 3 metre composite samples of the top of the interpreted clay (saprolite) zone. Up hole sampling has not occurred and the mineralised intervals remain open at depth and laterally into surrounding areas. Samples from adjacent drill holes currently not recording significant REEs may be due to the sample interval being taken above or below potential mineralisation. Ionic Clay hosted REE occurrences typically show vertical and horizontal grade and depth variability within a saprolite clay profile. Better determination of these unknowns will come from the up-coming drilling scheduled to start in 3 weeks' time.
Commenting on these results Petratherm's Exploration Manager, Mr Peter Reid said:
"These are highly encouraging early results and a validation of the Company's long standing frontier exploration approach, working in under-explored terrains and trialling new exploration methods. The results provide strong evidence that the Northern Gawler Craton of South Australia is fertile for ionic clay hosted rare earth mineralisation."
Figure 2 REE2 Prospect, TREO values and REE anomalous drill holes.
(*Anomalous Drillhole = anomalous Ce and/or La and/or REE path finder element(s) Th, Sr & P)
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Petratherm Ltd. published this content on 19 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2022 23:04:04 UTC.