Heavy rare earths producer Northern Minerals (ASX: NTU) today announced it had returned further encouraging results from its 2020 exploration and resource definition drilling program at the Browns Range project in WA.
HIGHLIGHTS:
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All results now received from 2020 exploration and resource definition drilling campaign at Browns Range.
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Remaining assay results received indicate potential for resource growth near Banshee and Area 5 deposits.
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Infill and extension drilling at Dazzler confirm existing resource and further growth potential.
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Best results from Dazzler of 14m @ 0.76% TREO and 6m @ 1.41% TREO.
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Intersections near Banshee and Area 5 deposits and at new Toad prospect warrant further investigation and follow-up in second phase drilling in 2021.
The assay results from the remaining 72 holes drilled in the 2020 program have now been received, following the announcement of the first batch of assay results from 45 drill holes on 18 January 2021 (“First drilling results indicate potential for Mineral Resource growth at Browns Range”).
The latest results are from Area 5 (18 holes), Banshee South (11 holes), Banshee West (8 holes), Dazzler/Iceman (25 holes), Toad (3 holes) and regional exploration (7 holes).
Infill and extension drilling results from Dazzler (14m @ 0.76% TREO from 25m and 6m @ 1.41% TREO from 12m) have confirmed the mineralisation to the southeast of the main high-grade zone at Dazzler and indicated the potential to increase the existing Dazzler Mineral Resource.
In the Banshee area, widespread low-grade mineralisation intersected at Banshee West (13m @ 0.43% TREO from 23m) and Banshee South (19m @ 0.33% TREO from 11m) suggest a significant mineralised system in this area.
Similarly, at Area 5 widespread low-grade mineralisation was intersected (6m @ 0.44% TREO from 7m and 2m @ 0.69% TREO from 48m).
Three holes drilled as follow-up to the first five drill holes at the new Toad prospect returned a best intersection of 6m @ 0.78% TREO from 49m.
Northern Minerals announced on 2 November 2020 that it had commenced a $5 million exploration program that would include up to 16,500 metres of drilling before the end of June 2021.
The Company completed 8,500 metres of reverse circulation (RC) drilling in late 2020 and the significant results will be followed-up in the second phase of drilling being planned at Browns Range in 2021, following the end of the wet season in the Kimberley region.
Northern Minerals CEO Mark Tory said:
“With final assay results now received for the remaining holes drilled at the end of 2020, we can now finalise our planning for the second phase of drilling we have committed to before the end of June.”
“I look forward to further drilling to follow-up the encouraging results at Banshee, Area 5 and the new Toad prospect as well as several exciting new untested targets, to potentially contribute to future resource growth.”
