ABx Group Limited has secured approvals from the government and landholders for drilling 39 holes to expand the high-grade T8 rare earth elements (REE) mineralisation in Tasmania that the company’s scout drill campaign discovered in May. Drilling will commence on 10 November.
“ABx is excited to be drilling for extensions of this shallow, high-grade rare earth mineralisation, which confirmed that all of ABx’s REE mineralisation in northern Tasmania are exceptionally high grade in [dysprosium] & [terbium], which is potentially globally significant and unmatched in Australia. ABx is investigating a low-cost, low-impact method of rapidly developing this rare earth province,” said Dr. Mark Cooksey, managing director and CEO of ABx.
“China’s restriction on exports of critical heavy rare earths, especially Dy & Tb, sends a clear message to the global market and ABx is in a unique position with its Dy- & Tb-rich shallow clay-hosted rare earth deposit in a stable jurisdiction. Dy & Tb are vital for many products including military technologies and offshore wind turbines. This is recognised by the industry, for example, our MoU to supply rare earth feedstock to Ucore, which is planning a Strategic Metals Complex in Louisiana with the support of the U.S. government.”
The Australian company said the equipment that has been assembled for this drilling program is designed to cover a wide area with no impact on the grazing land where these REE occur.
Source: ABx Group Limited