- iTech Minerals (ITM) identifies rare earth element (REE) mineralisation at the Salt Creek prospect within the Eyre Peninsula project in South Australia
- The company has reviewed historical data from drilling undertaken by Archer Materials (AXE) which highlighted rare earth oxides enriched with neodymium and praesidium
- Of the 19 drill holes reportedly drilled, 15 holes had high levels of REE mineralisation consistent with ion adsorption clay style mineralisation.
- iTech says samples are being sent to a lab in Sydney for specialised metallurgical testing
- iTech’s shares are trading steady at 24.5 cents
iTech Minerals (ITM) has identified rare element mineralisation (REE) at the Salt Creek prospect which is part of the Eyre Peninsula project in South Australia.
The company claims over 3000 parts per million (ppm) of rare earth oxides are enriched with neodymium and praesidium, used in the production of magnets for electric cars and wind turbines. iTech said the minerals also display enrichment in desirable heavy rare earth element oxides it believes command a premium price.
Drilling was undertaken by Archer Materials (AXE) in 2011 to explore for manganese mineralisation. After iTech conducted a review of the historical data, it identified thick intervals of up to 32 metres of REE-rich, clay dominant material, over a one-kilometre strike in a north-south direction.
Of the 19 drill holes reportedly drilled, 15 holes had high levels of REE mineralisation
consistent with ion...
Read Full Story: https://themarketherald.com.au/itech-minerals-asxitm-finds-ree-mineralisation-at-salt-creek-2021-11-29/
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