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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Cape Lambert Resources Limited    CFE   AU000000CFE0

CAPE LAMBERT RESOURCES LIMITED

(CFE)
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10/11CAPE LAMBERT RESOURCES : Placement closes well oversubscribed
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Cape Lambert Resources : New Exploration Licence Applications

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09/10/2020 | 09:15pm EDT

ASX

Release

11 September 2020

NEW EXPLORATION LICENCE APPLICATIONS OVER COINCIDENT GEOCHEMICAL REE AND GEOPHYSICAL GRAVITY ANOMALIES IN NORTHWEST WA

Highlights

  • Applications for two tenements covering 297 graticules in the Carnarvon Basin 33km from the North West Highway east of Shark Bay
  • Coincident geochemical rare earth element (REE) and geophysical gravity/TMI anomalies identified with deep gravity low interpreted as a buried diatreme structure.
  • Interpreted structure similar in size to the Mt Weld REE deposit.

Australian resource and investment company, Cape Lambert Resources Limited (ASX: CFE) (Cape Lambert or the Company) is pleased to announce that it has lodged applications for two tenements in the Carnarvon basin of WA.

The tenement applications (E 09/2442 and E 09/2441) cover a combined 297 graticular blocks or a total of 914.5 square kilometers starting approximately 33km east of the Overlander roadhouse near the turnoff to Shark Bay (refer figures 1 and 2).

Recent geochemical sampling over the areas known as "Dogger" and "Sebastian" have identified two rare earth element (REE) anomalies coincident with identified geophysical anomalies that indicate potential for the existence of a buried diatreme beneath the geologically recent sedimentary cover sequences (refer Annexure 1 for table of sample locations and assay data).

The southern gravity anomaly (Sebastian) presents as a deep gravity low with a coincident void in the TMI magnetics (figure 3). The density depression and coincident magnetic low can be interpreted as a possible buried diatreme structure with similar dimensions to the Mt Weld REE deposit in the north eastern goldfields of WA. This presents an opportunity for a new REE discovery as the structural environment and geophysical indications may suggest a potential carbonatite source similar to that found at Mt Weld.

The presence of a buried diatreme may also bs a potential host to several different mineralisation possibilities.

Cape Lambert Resources Limited ABN 71 095 047 920

32 Harrogate Street, West Leederville WA 6007

Phone: +61 8 9380 9555 Email: admin@capelam.com.au

www.capelam.com.au

ASX: CFE

ASX Release

11 September 2020

Figure 1. Location plan

Cape Lambert Resources Limited

ASX: CFE

Page 2 of 15

ASX Release

11 September 2020

E 09/2442

E 09/2441

Figure 2. Tenement plan

Cape Lambert Resources Limited

ASX: CFE

Page 3 of 15

ASX Release

11 September 2020

Figure 3. Tenement over TMI with geochemical sample locations

Next Steps

The Company is aiming to conduct initial reconnaissance exploration upon grant of tenure consisting of additional geophysics combined with more detailed geochemistry in the first instance as well as ground reconnaissance and desktop studies.

Tony Sage, Cape Lambert's Executive Director, said "This is a great chance to get into the rare earths space at very little cost to the Company with no acquisition costs applicable. With China banning all exports, rare earths are sought after commodities. Cape Lambert has a long track record of investments in the resources sector, and will continue to look out for other opportunities that may arise".

Cape Lambert Resources Limited

ASX: CFE

Page 4 of 15

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Cape Lambert Resources Ltd. published this content on 11 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2020 01:14:06 UTC


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Financials
Sales 2020 0,32 M 0,23 M 0,23 M
Net income 2020 -1,53 M -1,09 M -1,09 M
Net Debt 2020 2,24 M 1,59 M 1,59 M
P/E ratio 2020 -1,54x
Yield 2020 -
Capitalization 34,2 M 24,3 M 24,3 M
EV / Sales 2019 38,9x
EV / Sales 2020 17,6x
Nbr of Employees 54
Free-Float 92,5%
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Income Statement Evolution
Managers
NameTitle
Antony William Paul Sage Executive Chairman
Melissa Kate Chapman Chief Financial Officer & Secretary
Timothy Paul Turner Independent Non-Executive Director
Eloise von Puttkammer Head-Investor Relations
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