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- Voltaic Strategic Resources (VSR) confirms the scale potential of Neo Prospect at the Paddy’s Well project in Western Australia
- Multiple drill holes reveal extremely wide rare earth element (REE) mineralised intercepts from surface
- Assays show high-grade values and the presence of a large alumina-rich REE clay system, suggesting a substantial near-surface deposit
- Metallurgical testing on the clays is now underway to determine its preliminary economic viability and ion-absorption potential
- VSR is down 10.5 per cent, trading at 9.4 cents at market close
Voltaic Strategic Resources (VSR) has confirmed the scale potential of the Neo Prospect after encountering a series of wide rare earth element (REE) mineralised intercepts from the surface at its Paddy Well project in Western Australia’s Gascoyne region.
The drilling revealed nearly 80 metres of mineralisation from the surface across multiple holes. The mineralisation remains open at depth and along the strike, indicating the potential for further expansion.
Individual metre values in the drilling results reached up to one per cent total rare earth oxide (TREO), with high tenor “magnet” REE percentages up to 30 per cent. These assay results highlighted the substantial concentration of valuable rare earth elements within the deposit.
“We now have unequivocal evidence for the presence of a large alumina-rich, kaolinitic REE clay system at Neo, which has the potential for hosting a near-surface “open-pittable” REE clay deposit of substantial scale,” Voltaic CEO Michael Walshe said.
The extensive REE mineralisation from surface, high-grade assay results, and the presence of a large alumina-rich REE clay system suggest a substantial near-surface deposit.
The company now has metallurgical testing on the clays underway to determine its preliminary economic viability and ion-absorption (IAD) potential.
VSR was down 10.5 per cent, trading at 9.4 cents at market close.
