The field program, completed in July-
Core sample assay highlights include: 2.19% rare earth oxide ('REO') over 302.0 m (EC21-187), including, o 2.94% REO over 35.5 m
2.14% REO over 222.7 m (EC21-185), including, o 2.35% over 93.5 m
1.71% REO over 297.6 m (EC21-183), including, o 2.25% over 25.3 m
2.44% REO over 24.0 m (EC21-182)
The primary objective of the 2021 drill program at Ashram was to improve the confidence of the mineral resource (inferred -> indicated -> measured) in support of an updated mineral resource estimate to be completed as part of the ongoing Prefeasibility Study, which will also determine the initial mineral reserve estimate for the
All four (4) drill holes collared in mineralization starting at depths of 1.4 - 4.7 m (core length), consistent with previous drilling, with three (3) of the drill holes remaining mineralized over their entire length. The grades of the infill drilling at Ashram continue to remain strong compared to the current resources' head grades, with wide intervals of greater than 2% REO common.
In addition, the NdPr oxide distribution (i.e. % of Nd+Pr oxide of the total REO) continues to remain very strong compared to active global producers, and commonly ranges from 19 - 24+%, including a 21% NdPr oxide distribution in EC21-187's 302.0 m interval of 2.19% REO. The high distribution of NdPr oxide at Ashram is a result of the monazite dominate rare earth mineralogy and unique chemistry and equates to a relatively high-value end-product that Ashram could supply the market with over the long-term.
Drill hole EC21-182 was completed as a vertical step-out at the northern margin of the deposit. The hole collared in mineralization before trending out of and back into at depth, indicating the geometry of the deposit in this location flares out near surface. The northern margin of the deposit remains open with mineralization continuing to be intersected in step-out holes, as is evidenced by EC21-182.
Drill holes EC21-183 and 187, were part of a group of four (4) holes (EC21-183, 184, 187, and 193) which targeted the region beneath the shallow bay (45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
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Forward Looking Statements
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include that we expect to complete an updated mineral resource estimate and a prefeasibility study for the
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