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2 August 2021 LYNAS EXPANDS KNOWLEDGE OF THE MT WELD ORE BODY WITH 1KM DEEP EXPLORATION
DRILLHOLE
Lynas Rare Earths Limited (ASX:LYC, OTC:LYSDY) is pleased to announce the successful completion of
1020m deep core drilling into fresh carbonatite below the current Rare Earth Elements (REE) open pit mine. The exploration drilling program was designed to expand the ore body knowledge of Mt Weld by
understanding the primary Rare Earth Elements mineralisation and the geology and structure of the
carbonatite host rock. The program was partially funded by WA government under the Exploration Incentive
Scheme (EIS), 2020-2021. The following report provides information about the exploration drill program which was completed ahead of
schedule in June 2021. Key highlights:
Successfully completed 1020m deep exploration drillhole MWEX10270 by diamond core drilling
method.
The drillhole is collared from the current mine pit floor, designed at -55 degree inclination and drilled
in a due west direction below the 2018 design of Life of Mine (LOM) future expansion in saprolite
zone.
Geological and structural core logging as well as core photography is complete (photos on following
pages). Half splitting and quarter splitting the core using a diamond saw is in progress.
The entire drillhole remained in the Mt Weld Carbonatite. Core logging has identified four domains
of carbonatite: dolomite, ankerite, calcite and phoscorite.
Varying concentrations of coarse grained and fine grained REE mineralisation was observed in
multiple domains during core logging. REE mineralisation is not always visible during geological
logging. Previous drill holes (LWB025 and LWB026 Lynas ASX update 26 November 2020) in which
REE mineralisation was not visible, assayed up to 2.5% average REE mineralisation and identified
coarse grained aggregates of REE minerals upon microscopic mineralogical study. REE content
will be quantified once geochemical assay data and mineralogical results are received.
The current exploration drillhole has ended in visible coarse grained REE mineralisation.
First pass geochemical assay results, microscopic petrology and mineralogical study reports are
expected by November 2021 and the drilling report is expected to be completed in December 2021.
Further detailed analytical work including metallurgical test work will be conducted on the drillhole
samples and follow-up geological work will be conducted. Lynas Rare Earths CEO and Managing Director, Amanda Lacaze commented, We are excited about this
deep exploration drillhole into the Mt Weld carbonatite. The world will need increasing supplies of Rare
Earths for many years to come. The Mt Weld orebody is recognised as one of the richest known deposits in
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the world. Expanding our knowledge of this ore body is an essential part of ensuring Lynas continues to grow
as a reliable supplier to global markets. This is the first time we have conducted a one kilometre deep exploration drilling at Mt Weld. The results will
expand the ore body knowledge of the Mt Weld REE deposit and will assist planning for future resource
expansion drilling into the fresh carbonatite. As well as understanding the primary Rare Earth Elements mineralisation, drilling to these depths has
revealed the presence of the magnetic host rock which was the reason the Mt Weld deposit was identified
in the 1960s via aerial magnetic surveys. Further details of the latest drilling campaign are set out in the following pages.
If you have any queries in relation to this announcement, please contact:
Jennifer Parker or Lauren Stutchbury E: jparker@lynasre.com E: lstutchbury@lynasre.com P: +61 8 6241 3800
Authorized by:
Sarah Leonard Company Secretary |
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