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Outstanding High-Grade Results Further Extend Primary Mineralisation at Cummins Range


Grades of up to 6% TREO1 in latest assays from pre-Christmas diamond drilling, Silver grades of 2 to 4.5 ounces/tonne encountered in two holes.

HIGHLIGHTS

  • Significant assays received from a further seven diamond drill holes targeting the primary zone at the Cummins Range Rare Earths Project in WA

  • Multiple intercepts above the current resource grade, confirming the potential to upgrade and expand the current Mineral Resource of 18.8Mt at 1.15% TREO + 0.14% Nb2O5 2 . Latest assays include:

- 16.5m at 2% TREO with 0.4% NdPr and 0.1% Nb2O5 and 50 g/t Ag, including: - 3m at 6% TREO with 1% NdPr and 0.1% Nb2O5 and 25 g/t Ag (CDX0012) - 15m at 1.8% TREO with 0.4% NdPr and 0.1% Nb2O5 and 102 g/t Ag, including: - 11m at 2.3% TREO with 0.4% NdPr and 0.1% Nb2O5 and 138 g/t Ag (CDX0010) - 13m at 1.8% TREO with 0.3% NdPr and 0.1% Nb2O5, including: - 8.6m at 2.5% TREO with 0.4% NdPr and 0.1% Nb2O5 (CDX006) - 26m at 2.3% TREO with 0.5% NdPr and 0.3% Nb2O5, including: - 2.8m at 6.6% TREO with 1.2% NdPr and 0.8% Nb2O5 (CDX0013)

  • New results have extended the mineralisation in the primary zone beyond 200m down-dip.

  • Drill-hole CDX0013 (26m at 2.3% TREO) was drilled 50m to the west of CDX0012 and is the westernmost hole drilled at the best orientation to test the deposit. This suggests that the primary mineralisation remains open to the NW.

  • Two holes contain exceptional silver grades of up to 138g/t Ag.

  • Assays awaited for a further six diamond holes, including a number of visually strong intercepts down-dip of the recently reported results. These are expected to be received in the coming weeks.

  • Interpretation of results for Primary Exploration Target underway.

Management Comment Managing Director - Jeremy Robinson “We are really excited to have picked up where we left off in 2021 with some further outstanding high-grade results which have further reinforced the potential of the primary zone at Cummins Range. The results reported in this announcement have not only extended the mineralization beyond 200m down-dip, they have also confirmed the presence of stacked mineralized zones – which bodes well for the potential to increase the tonnage as we drill the mineralization down-dip and along strike." “The primary zone continues to shape up as a game-changer for Cummins Range, and we are looking forward to receiving the balance of the assays from the 2021 drilling program and mapping out our development and growth strategy for this high-quality deposit in 2022." “With interest in the rare earths sector continuing to increase amid rising prices and concerns over supply shortages, we are looking forward to what we anticipate will be a breakthrough year for RareX.”