ChemX Materials sees evidence of rare earths at SA acreage

ChemX Materials (ASX:CMX), a company searching for critical minerals required in the increasing decarbonisation and electrification markets, has today announced the discovery of evidence indicating REE mineralisation on-site the company’s Eyre Peninsula acreage in South Australia.

Assay results returned to the company included 17m @ 1,519 parts per million TREO from 16m depth including 4m @ 2,614ppm TREO from 29m depth and 4m @ 1,833ppm TREO at 25m depth. 

The remainder of samples collected in the company’s maiden drilling campaign will be further analysed to better define the scope of REE mineralisation in the coming weeks and months. 

(Source: ChemX) A table of TREO results from the company's maiden drill run

REEs detected in over 120 samples

ChemX’s tenements cover the Kimba Kaolin-Halloysite Project and Jamieson Tank, both areas which have seen high levels of manganese exploration. High REE results were returned from both targets. 

The company states materials assayed were from “raw, unprocessed samples consisting of kaolin clay associated with silica as quartz sand…with generally low quantities of iron oxides.” 

The company also claims that all 129 samples sent for assay returned evidence of possible REE mineralisation. 

Clay-rich areas now priority targets for ChemX

ChemX will now move ahead with the analysis of clay-rich target areas where REEs are expected to be concentrated and bonded to easily-processed geological substrates. 

If proven to be economically feasible, the company notes its Kimba prospect will form the part of revised mining operations on-site. 

The company continues to progress its separate operations towards the production of high purity alumina in Western Australia. 

A look at ChemX's three month charts versus the materials index (XMJ)