The Weld North Project is defined by a circular magnetic anomaly target located entirely within RareX’s exploration license application E38/3455 and its location 84 kilometers directly north of the Mt Weld carbonatite-hosted rare earth element (REE) deposit held by Lynas Corporation Limited (ASX: LYC, Mkt Cap A$1.5bn).

Figure 1: Airborne magnetic anomaly image showing the Weld North circular anomaly which RareX consider to be prospective for being caused by a REE-bearing circular carbonatite intrusive complex or a barren late stage granite intrusive and sitting below regolith cover which masks the buried bedrock source for this magnetic anomaly.

Figure 1 - Weld North circular anomaly


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