Scout Drillholes Discover New Rare Earth Province

The trade policies of China are creating supply risks for rare earths to much of the world. And the Executive Orders of the USA highlight the unique opportunity for ABx, because we have an ionic adsorption clay deposit in Australia with particularly high heavy rare earth content

A couple of weeks ago, we announced that we had commenced scout drilling on one of our large, unexplored tenements about 30 km south of Launceston in northern Tasmania. We are now delighted to report that we have identified another province of rare earth mineralisation

We drilled eight scout holes in locations identified by our rare earth exploration method.

• Three of these intersected rare earth mineralisation that exceeded the cut-off grade used to estimate the existing 89 Mt Deep Leads resources

• The highest grade intercept was over 5,300 ppm TREO

• All samples had a high percentage of Dy and Tb, as per previous exploration results in other ABx tenements

Because the tenement is large, an easily transported trailer-mounted geotechnical auger rig was used, which could not always penetrate the full depth of the rare earth clay horizon. A more powerful drill rig may be deployed in future and ABx has several more targets to test in this tenement

These developments put ABx at the forefront of Australia's rare earths sector at a time of escalating global demand